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    FCNR Rates

    A Foreign Currency Non-Repatriable (FCNR) account is a type of fixed deposit account that is held in foreign currencies by Non-Resident Indians (NRI). There are several Indian banks that offer FCNR accounts at attractive interest rates.

    FCNRs are a great option for NRIs because the interest earned on these are exempt from tax in India. Also, FCNRs in India offer a much higher rate of interest when compared to other countries.

    Top Interest Rates on FCNR Accounts

    Below is the list of banks that provide the best interest rates on FCNR Accounts:

    South Indian Bank

    South Indian Bank offers various NRI services including FCNR accounts. In the case of premature withdrawal, there is no need to pay penalty. They offer a high interest rate of 3.62% on FCNR accounts in Australian dollars.

    Tenure CAD JPY CHF AUD EURO GBP USD
    12 months to less than 24 months 3.11% 1.10% 0.46% 2.93% 0.81% 1.76% 3.14%
    24 months to less than 36 months 3.20% 1.08% 0.55% 3.06% 0.88% 1.93% 3.31%
    36 months to less than 48 months 3.34% 1.09% 0.74% 3.23% 1.08% 2.09% 3.44%
    48 months to less than 60 months 3.41% 1.12% 0.88% 3.51% 1.29% 2.20% 3.51%
    60 months 3.45% 1.15% 1.02% 3.62% 1.47% 2.29% 3.57%

    Maharashtra Bank

    Maharashtra Bank provides competitive interest rates on FCNR deposits. They offer deposits in a wide range of currencies such as US Dollar, British Pound, Euro, Australian Dollar, Canadian Dollar, and Singapore Dollar. The minimum period for a deposit is 12 months. They offer an interest rate of 2.50% on US Dollar deposits for 5 years. The interest offered on Australian dollar deposits are much higher, at 3.12% for the same tenure.

    Tenure SGD CAD AUD EURO GBP USD
    5 years 2.50% 2.95% 3.12% 0.72% 1.79% 3.32%
    48 to 57 months 2.40% 2.91% 3.01% 0.54% 1.70% 3.26%
    36 to 45 months 2.00% 2.59% 2.48% 0.58% 1.34% 2.94%
    24 to 33 months 1.82% 2.45% 2.31% 0.38% 1.18% 2.81%
    12 to 21 months 1.56% 2.31% 2.13% 0.26% 0.96% 2.59%

    Indian Overseas Bank

    Indian Overseas Bank offers good interest rates on FCNR accounts and they also deal in a wide range of currencies. They deal in an extensive range of currencies. All deposits can be made for a tenure ranging from 1 to 5 years.

    Tenure SGD NZD CHF AUD CAD JPY EURO GBP USD
    1 year to 23 months 1.31% 2.50% 0.00% 2.63% 3.06% 1.05% 1.01% 1.71% 3.34%
    2 years to 35 months 1.57% 2.68% 0.00% 2.81% 3.20% 1.08% 1.13% 1.93% 3.56%
    3 years to 47 months 1.75% 2.89% 0.00% 2.98% 3.34% 1.09% 1.58% 2.09% 3.94%
    4 years to 59 months 1.90% 3.07% 0.00% 3.26% 3.41% 1.12% 1.79% 2.20% 4.01%
    5 years 2.00% 3.23% 0.00% 3.37% 3.45% 1.15% 1.97% 2.29% 4.07%

    Tamilnad Mercantile Bank

    Tamilnad Mercantile Bank provides a competitive interest rate on all currency FCNR deposits. At present, they are offering a rate of 4.32% on 5-year deposits in Australian dollars, the highest compared to other currency interests on FCNRs.

    Tenure CHF JPY AUD CAD EUR GBP USD
    1 year to less than 2 years 0.65% 1.30% 3.13% 3.31% 1.01% 1.96% 3.34%
    2 years to less than 3 years 0.80% 1.33% 3.31% 3.45% 1.13% 2.18% 3.56%
    3 years to less than 4 years 1.24% 1.59% 3.73% 3.84% 1.58% 2.59% 3.94%
    4 years to less than 5 years 1.59% 1.82% 4.21% 4.11% 1.99% 2.90% 4.21%
    5 years 1.72% 1.85% 4.32% 4.15% 2.17% 2.99% 4.27%

    Vijaya Bank

    Vijaya Bank offers a variety of international banking services and products specifically catered to NRIs. FCNR is one of their financial products. At present, the highest rate offered by the bank are on FCNR deposits in US dollars, which pays interest at the rate of 3.32% for 5 years. The second best rate is offered on deposits in Australian dollars.

    Tenure CAD AUD EUR USD GBP
    1 year to 23 months 2.56% 2.38% 0.26% 2.84% 0.96%
    2 years to 35 months 2.70% 2.56% 0.38% 3.06% 1.43%
    3 years to 47 months 2.84% 2.73% 0.58% 3.19% 1.59%
    4 years to 59 months 2.91% 3.01% 0.79% 3.26% 1.70%
    5 years 2.95% 3.12% 0.97% 3.32% 1.79%

    Yes Bank

    Yes Bank provides a wide range of financial services that cater to NRIs. Their highest rate of interest is 3.10% on FCNRs in US dollars for a tenure that ranges from 2 years and 35 months.

    Tenure HKD SGD AUD CAD JPY EURO GBP USD
    1 year to 23 months 1.65% 2.00% 2.40% 2.20% 0.40% 0.05% 1.00% 3.05%
    2 years to 35 months 2.00% 2.10% 2.60% 2.40% 0.10% 0.10% 1.40% 3.10%
    3 years to 47 months 1.90% 2.10% 2.75% 2.40% 0.10% 0.10% 1.40% 3.00%
    4 years to 59 months 2.00% 2.10% 2.50% 2.40% 0.10% 0.20% 1.40% 3.00%
    5 years 1.85% 2.10% 2.50% 2.40% 0.00% 0.20% 1.40% 3.00%

    RBL Bank

    RBL Bank offers FCNR accounts in all major currencies. The interest earned on these FCNR deposits are paid on a half-yearly basis and deposits are renewed automatically. They offer a high yielding rate on Australian dollar deposits, which is 2.68%.

    Tenure CHF CAD JPY SGD AUD EURO GBP USD
    1 year to 23 months 0.10% 2.25% 0.43% 1.95% 2.25% 0.05% 1.22% 2.80%
    2 years to 35 months 0.10% 2.45% 0.42% 2.05% 2.45% 0.10% 1.44% 2.82%
    3 years to 47 months 0.15% 2.45% 0.31% 2.05% 2.60% 0.10% 1.44% 2.80%
    4 years to 59 months 0.15% 2.50% 0.25% 2.05% 2.57% 0.30% 1.51% 2.80%
    5 years 0.15% 2.60% 0.25% 2.05% 2.68% 0.35% 1.60% 2.85%

    IDBI Bank

    IDBI is a well-reputed bank that offers FCNR facilities in major foreign currencies. Their USD deposits pay 3.32% for 5 years and AUD deposits pay 3.37%, the highest when compared to other currencies.

    Tenure CHF HKD SGD JPY CAD AUD EUR GBP USD
    1 year to 23 months 0.00% 2.17% 1.92% 0.20% 2.44% 2.63% 0.07% 1.31% 2.84%
    2 years to 35 months 0.00% 2.55% 2.20% 0.20% 2.71% 2.81% 0.21% 1.51% 3.06%
    3 years to 47 months 0.00% 2.78% 2.34% 0.20% 2.88% 2.98% 0.42% 1.68% 3.19%
    4 years to 59 months 0.00% 2.90% 2.43% 0.20% 2.98% 3.26% 0.61% 1.78% 3.26%
    5 years 0.00% 3.00% 2.52% 0.20% 3.07% 3.37% 0.80% 1.88% 3.32%

    DCB Bank

    DCB Bank provides a range of flexible deposit options for NRIs. At present they are offering the highest interest on US, Australian and Canadian dollar currency deposits.

    Tenure USD GBP EUR CAD AUD
    1 year to 23 months 3.00% 1.25% 0.20% 2.40% 2.70%
    2 years to 35 months 3.00% 1.40% 0.20% 2.40% 2.70%
    3 years 3.30% 1.50% 0.25% 2.45% 3.30%
    4 years 3.30% 1.60% 0.25% 2.45% 3.30%
    5 years 3.30% 1.60% 0.25% 2.45% 3.30%

    Disclaimer: All interest rates are subject to change at regular intervals based on the discretion of the bank

    FCNR Rates Reviews

    • SBI Fixed Deposit
      "Good FD account"
      0.5 5.0/5 "Blown Away!"
      I have invested the fixed deposit with State bank of India. Since the branch is nearest by my home and they have given me a locker facility hence i have chosen the fixed deposit with SBI. Overall, I'm very much satisfied with the services with SBI.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 18, 2019
    • YES Bank Fixed Deposit
      "Fraud by Yes Bank"
      0.5 1.0/5 "Really Bad"
      Yes Bank has not credited Interest for my Fixed Deposit. On enquiring they gave me a story that the interest amount has been adjusted towards TDS. They have not provided credit entry for the interest and the debit entry for the TDS respectively.
      Was this review helpful? 2
      , bhopal
      Reviewed on Jan 11, 2019
    • ICICI Bank Fixed Deposit
      "Smart Investment"
      0.5 5.0/5 "Blown Away!"
      In ICICI fixed deposit interest rate is around 6.75% per annum, I opened the FD through online. I have invested Rs. 1 lakh they wont take any charges for the pre matured fixed interest. I believe the interest rate is good compared to the government bank.
      Was this review helpful? 2
      , yamuna nagar
      Reviewed on Jan 10, 2019
    • Kotak Fixed Deposit
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I am having a Fixed Deposit account with Kotak Mahindra bank, they provide good services when compared to other banks. I get good interest rate in returns after the maturity period which is after 3 years. Customer support is average with Kotak Mahindra bank.
      Was this review helpful? 1
      , chennai
      Reviewed on Jan 10, 2019
    • HDFC Bank Fixed Deposit
      "Hassle free"
      0.5 5.0/5 "Blown Away!"
      I also have a fixed deposit account with HDFC Bank. The process to open this account is easy. I can do it online. They also offer a good rate of interest on the account. The bank has always been up to the mark to ban with. It is very convenient and easy.
      Was this review helpful? 3
      , noida
      Reviewed on Jan 09, 2019
    • IOB Fixed Deposit
      "Better Banking Experience"
      0.5 4.0/5 "Great!"
      I have invested a fixed deposit with Indian Overseas Bank. My wife has recommended me about this bank since she is working over there. I invested the money of Rs. 50000. I don't remember about the tenure period. Before 1 years, i have invested the money with them.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on Jan 09, 2019
    • ICICI Bank Fixed Deposit
      "Good Deposit"
      0.5 5.0/5 "Blown Away!"
      I have invested a fixed deposit with ICICI. There is no reason for selected this bank. They have offered me a interest rate of 6.5% and there is no processing fee. I have invested the money 8 months before. This is a one year plan. I'm happy about the services provided by the ICICI for this account
      Was this review helpful? 1
      , thane
      Reviewed on Jan 04, 2019
    • Corporation Bank Fixed Deposit
      "Average"
      0.5 4.0/5 "Great!"
      I had account with Corporation Bank and its very old one. I put fixed deposit before 3 to 4 years. The interest rate was around 7% which was minimum compared to others but am satisfied. I have deposited for 5 years. Actually have not taken any benefits, just have invested. The customer service was okay.
      Was this review helpful? 3
      , pune
      Reviewed on Jan 04, 2019
    • HDFC Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I do have a fixed deposit account with HDFC Bank. They are giving good interest. I can manage this account on line. I have chosen HDFC because of bank financial is good. I have just started long time, The process was very quick and it was done through on line.
      Was this review helpful? 4
      , thane
      Reviewed on Jan 02, 2019
    • SBI Fixed Deposit
      "Best Investment plan"
      0.5 5.0/5 "Blown Away!"
      I have taken fixed deposit account in State Bank Of India . They are not charging any charges for the account . I used to get income tax benefits . Am satisfied with the customer service and response.They are giving good rate of interest . Overall am happy with my account .
      Was this review helpful? 5
      , ahmedabad
      Reviewed on Dec 29, 2018
    • review Fixed Deposit
      "Good online features on FD"
      0.5 5.0/5 "Blown Away!"
      In Saraswat bank they are providing the interest around 7% per annum, the minimum amount Rs. 5000 to max, still my FD is running with this bank. The online options are excellent without visiting I can track the interest and deposit amount through online.
      Was this review helpful? 1
      , pune
      Reviewed on Dec 17, 2018
    • HDFC Bank Fixed Deposit
      "Convenient FD with HDFC"
      0.5 5.0/5 "Blown Away!"
      In HDFC I can deposit for minimum of Rs. 5000 to max amount. I done the investment of one time payment around Rs.6 lakhs. I can chose the tenure period based on the convenient, it gives the interest of 7% its maximum. I can open and close the account through online.
      Was this review helpful? 6
      , pune
      Reviewed on Dec 17, 2018
    • SBI Fixed Deposit
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had made this investment pretty long time back and the services which they had provided so far has been good. The interest rate with them has been good and the growth with the investment has also been good. Their customer support has been helpful in guiding with everything.
      Was this review helpful? 9
      , bangalore
      Reviewed on Dec 14, 2018
    • YES Bank Fixed Deposit
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a good service which they had been providing so far and i had started this investment a log time back. Their customer support has been helpful in guiding me in the investment plans and explaining with the growth of the investment. The interest rate with them has also been good.
      Was this review helpful? 4
      , bangalore
      Reviewed on Dec 14, 2018
    • Citibank Fixed Deposit
      "Not satisfied with the service"
      0.5 1.0/5 "Really Bad"
      I had started this investment a pretty long time back and they had been providing a good service. Their customer support has not been responsive and i do not suggest any one to make an investment through them. There has not been a good growth with the investment.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 14, 2018
    • SBI Fixed Deposit
      "Good Investment Plan"
      0.5 4.0/5 "Great!"
      I have taken fixed deposit account in STATE BANK OF INDIA . They are not charging any charges for the account . I used to get income tax benefits . Am satisfied with the customer service and response.They are giving good rate of interest . Overall am happy with my account .
      Was this review helpful? 4
      , mumbai
      Reviewed on Dec 12, 2018
    • Post Office Fixed Deposit
      "Good investment plan"
      0.5 5.0/5 "Blown Away!"
      I have started investing in the fixed deposit almost more than 5 years. I have invested a variable amount in different times. They have offered me a interest rate of 7.5%. The response was good. I have chosen the post office because of the safe and security.
      Was this review helpful? 14
      , guwahati
      Reviewed on Dec 12, 2018
    • YES Bank Fixed Deposit
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have the fixed deposit account with the Yes bank and the interest rate they have given me is good, also the customer service is good too they have co-ordinated with me well they time to time update me about there date of pay my next fixed deposit date.On line banking services are fine one too and am really happy with them.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Dec 11, 2018
    • Axis Bank Fixed Deposit
      "Average bank to avail fixed deposit"
      0.5 4.5/5 "Excellent!"
      I have chosen the Axis bank for my fixed deposit. I have deposited around of Rs. 50000. Since they are providing very good services in their branch. They have offered me a interest rate of 6.5%. I put the money in 2015. I have visited their branch many times and the service is very much prompt. I had no issues with them.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Dec 11, 2018
    • ICICI Bank Fixed Deposit
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      My fixed deposit is with ICICI Bank. I had to go to the bank and meet the executive and open the account. I can close the account online. There is a lock in period for 12 to 13 months. The interest I earn is satisfactory. I have a deposit of 70K. Overall good.
      Was this review helpful? 1
      , new delhi
      Reviewed on Dec 07, 2018
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