DCB Bank FCNR Rates

Understanding DCB Bank FCNR Deposits

An FCNR deposit with DCB Bank is a fixed deposit held in foreign currency such as USD, GBP, EUR, AUD, or CAD. It offers NRIs an opportunity to invest in foreign currency deposits with tenures ranging from 1 year up to 5 years. Interest earned is exempt from Indian income tax and principal and interest are both fully repatriable, allowing easy transfer of funds abroad.

Current DCB Bank FCNR Interest Rates

Below are the current interest rates for the NRI account providing FCNR deposits: 

(with effect from 1st August, 2025)

Benefits of Choosing DCB Bank FCNR Deposits

• Competitive Interest Rates: Particularly strong rates in USD and CAD currencies.
• Tenure Flexibility: Options available from 1 year to a maximum of 5 years.
• Tax Efficiency: Interest earned on FCNR deposits is exempt from Indian income tax.
• Repatriability: Both principal and interest amounts can be freely repatriated without restrictions.
• Currency Risk Mitigation: As deposits are in foreign currency, exposure to INR currency risk is minimized.

How to Open a DCB Bank FCNR Account?

NRIs can open an FCNR (Foreign Currency Non-Resident) deposit account by submitting KYC documents along with the prescribed application forms at DCB Bank branches or via authorized NRI banking channels. Deposits can be made through inward remittances from abroad in the applicable foreign currency.

Documents Required for Opening a DCB Bank FCNR Account

To open an FCNR account with DCB Bank, NRIs and other eligible customers need to submit specific KYC (Know Your Customer) documents. Below is a detailed list of documents required as per DCB Bank's guidelines:

1. Common Documents for All Applicants

   • Application Form (AOF) + Customer Identification Data (CIDD) + FATCA Declaration
   • Valid Passport Copy (pages containing customer details and address)
   • PAN Card or Form 60 (for tax purposes)
   • Valid Visa (if passport is in a foreign language, a translated version may be required)
   • Proof of Current Address (if different from the passport address) through documents such as:
     • Aadhaar card, Driving Licence, Voter ID card, or other accepted official address proofs

2. Additional Documents for Specific Applicant Types

   • NRIs (Non-Resident Indians)
     • Submit the common documents mentioned above.
     • If the overseas communication address differs from passport and other proofs, submit communication address proof such as a recent bank statement, utility bill, or employment letter.
   • PIO (Persons of Indian Origin)
     • Common documents as above.
     • Documentary proof to establish Indian lineage, such as:
       • OCI/PIO card, cancelled Indian passport or parents’/grandparents’ Indian passport with relationship proof
       • Birth certificate showing Indian lineage
       • Certificate of Renunciation of Indian Citizenship
       • Registered land ownership documents proving Indian lineage
   • Seafarers
     • Common documents as above.
     • Valid Mariners Visa (if in a foreign language, translated version) or CDC booklet with a valid contract/employer confirmation or recent disembarkation stamps (not older than 6 months).

3. Proof of Address (If Different from Passport Address)

   The bank accepts multiple proofs, including:

   • Aadhaar card
   • Valid Driving Licence
   • Voter ID card
   • Job card issued by NREGA (Indian address only)
   • Letter issued by NPR (Indian address only)
   • Documents issued by the Government departments of foreign jurisdictions
   • Letter issued by the Foreign Embassy or Mission in India

4. Communication Address Proof (Overseas Address Only)

   If the communication address is different from the Passport or other address proofs, the following documents can be submitted:

   • Recent bank account statement (not older than 3 months)
   • Utility bills such as electricity, telephone, post-paid mobile, gas, water bills (not older than 3 months)
   • Employment appointment or offer letter with supporting Employee ID card
   • Property or municipal tax receipt (not older than 1 year)
   • Credit card statement (not older than 3 months)
   • PIO/OCI card
   • Address proof in the name of spouse, parents, or children with relationship proof

5. Attestation of Documents for Non-Face-to-Face Accounts

   For accounts opened without face-to-face interaction, external attestation of KYC documents is mandatory. Acceptable attestors include:

   • Authorized officials of overseas branches of scheduled commercial banks registered in India
   • Branches of overseas banks with a relationship with the Indian bank, provided the customer has an account there (supported by a recent bank statement)
   • Notary Public / Justice of Peace (in applicable countries)
   • Court Magistrate or Judge
   • Indian Embassy or Consulate General in the country of residence

Note: Where Aadhaar eKYC is done, the electronic KYC reference number is to be captured on the application form, and the address received from UIDAI is considered the Indian address.

Conclusion

DCB Bank FCNR deposits provide NRIs a secure and attractive avenue to invest foreign currency savings with competitive interest rates, tax benefits, and easy repatriability. The bank offers flexible tenure options and caters to multiple major currencies, making it a preferred choice for NRIs looking for long-term foreign currency fixed deposits.