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FCNR RATE

Interest Rates FCNR(B)/RFC

The details of revised rates of interest on FCNR (B) & RFC term deposits in the permitted currencies w.e.f. 23.05.2024 are given below:

FCNR (B) Deposits:

Maturity Period	USD < 200,000		USD >= 200,000		GBP
	Existing	Revised	Existing	Revised	Existing	Revised
1 YR<2YRS	5.35	5.70	5.60	5.80	5.05	5.05
2YRS<3YRS	4.30	4.30	4.30	4.30	3.00	3.00
3YRS<4YRS	4.05	4.05	4.05	4.05	2.50	2.50
4YRS<5YRS	3.80	3.80	3.80	3.80	2.50	2.50
5YRS ONLY	3.80	3.80	3.80	3.80	2.50	2.50

Maturity Period	JPY		EUR		CAD		AUD
	Existing	Revised	Existing	Revised	Existing	Revised	Existing	Revised
1 YR<2YRS	0.01	0.01	3.00	3.00	4.55	4.55	3.75	3.75
2YRS<3YRS	0.01	0.01	2.05	2.05	3.61	3.61	3.50	3.50
3YRS<4YRS	0.01	0.01	1.55	1.55	3.31	3.31	3.00	3.00
4YRS<5YRS	0.01	0.01	1.55	1.55	3.26	3.26	3.00	3.00
5YRS ONLY	0.01	0.01	1.55	1.55	3.26	3.26	3.00	3.00

RFC Deposits:

PERIOD	USD < 200,000		USD >= 200,000		GBP		JPY		EUR		CAD		AUD
PERIOD	Existing	Revised	Existing	Revised	Existing	Revised	Existing	Revised	Existing	Revised	Existing	Revised	Existing	Revised
TERM DEPOSITS
6 M to <1 YR	5.35	5.70	5.60	5.80	5.05	5.05	0.01	0.01	3.00	3.00	4.55	4.55	3.75	3.75
1 YR to <2 YRS	5.35	5.70	5.60	5.80	5.05	5.05	0.01	0.01	3.00	3.00	4.55	4.55	3.75	3.75
2 YRS to <3 YRS	4.30	4.30	4.30	4.30	3.00	3.00	0.01	0.01	2.05	2.05	3.61	3.61	3.50	3.50
3 YRS	4.05	4.05	4.05	4.05	2.50	2.50	0.01	0.01	1.55	1.55	3.31	3.31	3.00	3.00

Notes:

1. Interest rate for term deposits upto 3yrs are in line with FCNR (B) Term Deposits.
2. Staff RFC interest rates will be paid with addition of 0.25% on above mentioned rates.
3. The Rate of Interest offered by our bank for RFC saving deposits are as under:-

Currency	USD	GBP	EUR	JPY	CAD	AUD
Rate of Interest (%)	0.50	0.50	0.01	0.07	0.50	0.50

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