Karnataka Bank FCNR Rates

Karnataka Bank FCNR Rates

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

* Interest rates are applicable from August, 2025. Rates are subject to change. 

Features of Karnataka Bank FCNR Account

The FCNR account Karnataka Bank offers the following features:

• Multiple Currency Options: FCNR deposits can be opened in several foreign currencies, including USD, GBP, JPY, AUD, EUR and CAD. 
• Flexible Tenure: The funds can be deposited for a tenure ranging from 1 year to 5 years. 
• Tax Exemption: Interest earned on FCNR deposits is exempt from Indian income tax for NRIs. 
• Fully Repatriable: Both principal and interest are freely repatriable without restrictions.
• Fixed Deposit Nature: FCNR accounts are offered as term deposits (fixed deposits) for specific tenures, providing stable returns.

Note: You may also know about Karnataka Bank NRE FD Rates

Eligibility to Open Karnataka Bank FCNR Account

To open an FCNR account at Karnataka Bank, the following candidates are eligible: 

• Non-Resident Indians (NRIs)
• Indian students studying overseas
• Seafarers of Indian origin working for overseas shipping companies
• Person of Indian Origin (PIOs) and Overseas Citizen of India (OCIs)
• Individuals holding a foreign passport (excluding Bangladesh and Pakistan) with Indian lineage, or spouses of Indian citizens.

How to Open Karnataka Bank FCNR Account? 

Online Method: 

Step1: Go to the official website of Karanarak Bank

Step 2: Go to the 'NRI Priority Banking' section

Step 3: Select 'Deposits'

Step 4: Select 'Non Resident (Ordinary) Fixed Deposit 

Step 5: Under 'Foreign Currency Non-Resident (FCNR) Deposit click on 'Apply Now'

Step 6: Fill in the complete details shown in the form

Step 8: Follow the procedure instructed by the bank, submit the KYC documents, and your FCNR account will be opened

Offline Method: 

Step1: Visit your nearest Karnataka Bank Branch

Step 2: Fill the application form

Step 3: Submit the duly filled form along with relevant documents

Step 4: The bank personnel will open your bank account

Documents Required to Open Karnataka Bank FCNR Account

The following documents are to be submitted while opening FCNR Account at Karnataka Bank:

• PAN card or Form 60
• Resident card or foreign passport
• Visa of overseas country
• Proof of overseas residential address
• Document photocopies attested by officials from overseas Indian banks, notaries, magistrates, or Indian embassies/consulates

Conclusion

Karnataka Bank FCNR deposits provide NRIs with a secure and profitable way to invest foreign currency earnings while enjoying tax-free interest and protection against exchange rate risks. With flexible tenure options and competitive Karnataka Bank FCNR Rates, it serves as a trusted investment tool for NRIs, PIOs, and OCIs looking for stability and returns.