Indian Overseas Bank FCNR Rates

Indian Overseas Bank (IOB) offers competitive Foreign Currency Non-Resident (FCNR) deposits for NRIs to maintain their foreign currencies. NRIs looking to maintain their wealth while benefiting from high yields and tax advantages in India, with interest rates ranging up to 5.00% for USD 1 year.

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Latest Indian Overseas Bank FCNR Rates 2026

Latest FCNR interest rates of Indian Overseas Bank 2026 for 9 different currencies like: USD, GBP, EUR, JPY, CAD, AUD, CHF, NZD and SGD

IOB Interest Rates for USD FCNR(B) Deposits

Currency 1 Year >1 Year <2 Years 2 Years <3 Years 3 Years <4 Years 4 Years <5 Years
USD 5.00% 4.50% 3.20% 3.15% 3.15%

IOB Interest Rates for Other Currencies for FCNR(B) Deposits

Currency > 1 Year < 2 Years 2 Years < 3 Years 3 Years < 4 Years 4 Years < 5 Years 5 Years
GBP 4.50% 2.10% 2.15% 2.20% 2.25%
EUR 2.50% 0.15% 0.15% 0.15% 0.15%
JPY 0.03% 0.05% 0.05% 0.05% 0.05%
CAD 0.50% 1.60% 1.80% 1.90% 1.95%
AUD 0.70% 1.00% 1.25% 1.55% 1.85%
CHF 0.00% 0.00% 0.02% 0.02% 0.02%
NZD 1.00% 1.20% 1.40% 1.50% 1.60%
SGD 0.42% 0.89% 1.09% 1.23% 1.39%

Indian Overseas Bank FCNR Rates w.e.f 06.10.2025

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Benefits of Indian Overseas Bank FCNR Rates

  1. Tax-Free Growth:

    The interest earned is completely exempt from income tax in India.

  2. Full Repatriability:

    You can transfer both the principal and the FCNR Deposit Interest Rates back to your country of residence at any time in the same foreign currency.

  3. Zero Exchange Risk:

    Since the deposit is held in a foreign currency (e.g., USD), you are protected from fluctuations in the value of the Indian Rupee.

  4. Diverse Currency Choice:

    Beyond the major five, IOB accepts deposits in currencies such as USD, GBP, EUR, JPY, CAD, AUD, CHF, NZD and SGD

  5. Minimum Tenure:

    You must hold the deposit for at least one year to earn any interest. No interest is paid for premature withdrawals before the 1-year mark.

  6. Repatriation:

    Funds can be freely moved between your FCNR accounts and NRE accounts without any conversion costs.

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Wrapping Up

Indian Overseas Bank’s FCNR(B) Account deposits present a high-yield, low-risk investment avenue for NRIs. By offering competitive rates up to 5.00% p.a. on USD with 8 other major currencies and total tax exemption on interest. Whether you are looking for short-term gains in USD or long-term stability in diverse currencies like CAD or NZD. These accounts offer the dual benefit of full repatriability and zero exchange risk, making them an essential component for an NRI financial portfolio.

FAQs

  • What are the interest rates of the Indian Overseas Bank FCNR Account?

    The IOB FCNR Account offers its interest rates starting from 0.02% to 5.00% p.a. on USD.

  • What is the tenure for the Indian Overseas Bank FCNR?

    The tenure is from 1 year to 5 years for the IOB FCNR Accounts.

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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

*Past 10 Year annualised returns as on 01-09-2026
*All savings plans are provided by the insurer as per the IRDAI approved insurance plan. Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
**Returns are based on past 10 years' fund performance data (Fund Data Source: Value Research).
^Returns as on 10th Jan'25. 18% returns for Tata AIA Life Top 200 for the last 10 years.The past performance is not necessarily indicative of future performance. Source: Morningstar

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