What is the ICICI FCNr interest rate?

The ICICI FCNr rates start at 1.20% p.a. and go up to 6.25% p.a.

What are the factors that can affect the ICICI FCNR interest rates?

Some of the factors that might affect the ICICI FCNR interest rates are: RBI’s Guidelines Tenure Effects Currency Impacts, etc.

What is FCNR (B) Account?

An FCNR (B) account is a fixed deposit for NRIs in a freely convertible foreign currency (not INR) held in India for 1 to 5 years, which protects your funds from currency fluctuations.

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ICICI Bank FCNR Rates

ICICI FCNR (B) rates have been updated, which go up to 3.75% on the tenure of 12 months to 24 months on United States Dollar (USD) w.e.f. 1st September 2026. The FCNR deposit is available in 5 currencies, USD, SGD, GBP, AUD, and CAD, specially designed for NRIs, helping them grow their foreign currency holdings in India without incurring any tax.

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Latest ICICI Bank FCNR Rates 2026

The table contains updated ICICI FCNR(B) rates effective from September 01st, 2026:

Tenure	USD	SGD	GBP	AUD	CAD
12 months to < 24 months	3.75%	1.15%	3.80%	4.25%	2.25%
>= 24 months to < 36 months	3.50%	1.00%	3.65%	3.90%	2.20%
>= 36 months to < 48 months	3.25%	-	-	-	-
>= 48 months to < 60 months	3.25%	-	-	-	-
60 months	3.25%	-	-	-	-

ICICI FCNR interest rates w.e.f. from September 01st, 2026

Factors Affecting ICICI FCNR Rates

As FCNR rates are denominated in foreign currencies and managed by the Central Banks of their corresponding foreign countries, the linked rates can be influenced. Here are some more factors that can affect the FCNR rates of ICICI Bank:

Currency Impacts:

The difference between the rates of each currency is different from each other. For example, USD has more rates compared to the rest of the currencies. Permitted currencies include USD, GBP, SGD, AUD, and CAD under ICICI FCNR Account.
Tenure Effects:

The shorter tenures contain the lower rates, like USD, with 3.85% and longer tenures with higher interest rates up to 60 months at 6.00%.
RBI’s Guidelines:

The Reserve Bank of India (RBI) regulates the maximum interest rates that Indian banks, including ICICI Bank, can offer on FCNR deposits. Changes in RBI's regulations can directly affect the maximum possible rate offered by ICICI Bank.
Bank-Specific Factors

The bank adjusts FCNR rates, within RBI limits, based on its internal financial needs. This includes raising rates to quickly attract more foreign currency funds (liquidity) or to fund the demand for foreign currency loans.

Conclusion

The interest earned on the ICICI FCNR deposit is fully exempt from Income Tax in India for NRIs which goes up to 3.75% p.a. While FCNR deposits protect your savings from currency fluctuations, it is helpful to weigh the pros and cons of an FCNR account before choosing your deposit tenure and currency.

FAQs

What is the ICICI FCNr interest rate?

The ICICI FCNr rates start at 1.20% p.a. and go up to 6.25% p.a.
What are the factors that can affect the ICICI FCNR interest rates?
Some of the factors that might affect the ICICI FCNR interest rates are:
- RBI’s Guidelines
- Tenure Effects
- Currency Impacts, etc.
What is FCNR (B) Account?

An FCNR (B) account is a fixed deposit for NRIs in a freely convertible foreign currency (not INR) held in India for 1 to 5 years, which protects your funds from currency fluctuations.

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ICICI Bank FCNR Rates

Latest ICICI Bank FCNR Rates 2026

Factors Affecting ICICI FCNR Rates

Currency Impacts:

Tenure Effects:

RBI’s Guidelines:

Bank-Specific Factors