Indian Bank FCNR (B) Interest Rates
The highest Indian Bank FCNR(B) interest rate is 5.50% on USD deposits for the tenure of 1 year to <2 years, effective from 06 April 2026 (last verified in October 2026):
| Currency |
From 1 year <2 years |
2 years and above < 3 years |
3 years and above < 4 years |
4 years and above < 5 years |
Fixed 5 years |
| USD |
5.50% |
3.80% |
3.50% |
3.40% |
3.40% |
| GBP |
4.50% |
3.00% |
3.00% |
2.50% |
2.70% |
| EUR |
1.50% |
1.80% |
1.50% |
1.25% |
1.50% |
| JPY |
0.10% |
0.13% |
0.12% |
0.13% |
0.14% |
| CAD |
3.50% |
3.30% |
3.00% |
3.00% |
3.00% |
| AUD |
3.60% |
3.50% |
2.05% |
2.30% |
2.45% |
| CHF |
0.01% |
0.01% |
0.02% |
0.03% |
0.05% |
| SGD |
3.00% |
0.40% |
0.49% |
0.55% |
0.61% |
*Indian Bank FCNR rates w.e.f. 06 April 2026.
How Are Indian Bank FCNR FD Rates Decided?
Several factors affect how Indian Bank determines the final FCNR rates. These are:
-
Ceiling of FCNR Rate by RBI: The ceiling of interest rates on FCNR(B) accounts is laid down by the RBI. FCNR deposit rates are determined based on the currency and tenure chosen by each bank, as well as Indian Bank.
-
Foreign Interest Rates: Indian Bank FCNR rates vary depending on the interest rates in the respective foreign market where the currency originates.
-
Cost of Hedging: The cost of hedging foreign exchange risks may affect IB FCNR(B) rates.
-
Bank’s Funding Needs: Funding needs of the bank for foreign currencies may have an effect on Indian Bank FCNR(B) rates.
-
Foreign Currency Demand: Demand and market conditions prevailing for different foreign currencies may affect Indian Bank FCNR(B) rates.
Key Features of Indian Bank FCNR(B) Deposit
Indian Bank FCNR(B) deposits provide NRIs/OCIs with an option to make deposits in designated foreign currency. The salient features are as follows:
-
No Interest on Early Withdrawal: No interest is paid by Indian Bank if the depositor withdraws the money before 12 months.
-
Compounding of Interest: In an Indian Bank FCNR(B) account, interest is compounded after every 180 days and thereafter for the remaining number of days.
-
Tax Benefits: The interest accrued from the FCNR(B) account is non-taxable in India for eligible NRI depositors, subject to applicable provisions.
-
Repatriability: The principal and interest may be repatriated out of India subject to RBI rules/regulations.
-
Several Foreign Currencies: Eligible NRIs and OCIs can open the FCNR(B) account in 8 different foreign currencies such as USD, GBP, EUR, AUD, CAD, JPY, CHF and SGD.
Indian Bank Fixed Deposit Interest Calculator
You can use the Indian Bank Fixed Deposit Interest Calculator to calculate the interest you will get on your deposit and the maturity amount. The calculator computes results on the basis of deposit amount, tenure and applicable rate of interest. It also helps customers compare the returns expected on different amounts and tenures before committing to an FCNR(B) deposit.
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