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South Indian Bank FCNR Rates

FCNR accounts are customised and introduced specially for the NRIs to invest their currencies in India tax-free. South Indian Bank FCNR Rates are competitive in nature, that are up to 4.80% for USD, depending on the currency and tenure. There is no pre-closure penalty for FCNR(B) deposits, and no interest will be paid if closed within one year.

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Latest South Indian Bank FCNR Rates 2026

Here are the latest 2026 interest rates under the South India Bank FCNR Account:

Maturity period	USD		GBP	EUR	AUD	CHF	JPY	CAD
Amount	Up to & including 5L	Above 5L
1 year to 2 years	4.80%	4.50%	4.00%	3.00%	4.20%	0.05%	0.20%	3.50%
2 years to 3 years	4.25%	4.25%	3.75%	2.00%	3.50%	0.00%	0.20%	3.50%
3 years to 4 years	4.00%	4.00%	2.45%	1.00%	3.00%	0.00%	0.05%	3.15%
4 years to 5 years	3.75%	3.75%	2.45%	1.00%	3.20%	NA	0.05%	3.20%
5 years	3.90%	3.90%	2.45%	1.00%	3.45%	NA	0.05%	3.25%

*South Indian Bank FCNR Rates with effect from 19th January 2026

South Indian FCNR Important Rate Rules

Below are the rules for the FCNR rates offered by South Indian Bank:

The "One-Year" Rule:

If you close the deposit before completing 1 full year, the bank pays 0% interest.
No Penalty:

There is no premature closure penalty for FCNR(B) deposits at South Indian Bank (unlike regular domestic FDs).
Compounding:

Interest on tenures of 1 year and above is compounded half-yearly.
Taxation:

The FCNR rates are the actual take-home yield, as the interest earned is 100% tax-free in India.
Full Repatriability:

You can transfer both the principal and interest back to your country of residence without any restrictions.

Wrapping Up

South Indian Bank FCNR rates 2026 are for NRIs that go up to 4.80% to grow their foreign currency while maintaining a high financial flexibility. By offering tax-free earnings, full repatriability, and the advantage of no premature withdrawal penalty. Whether you are looking for short-term liquidity or a long-term secure investment in major currencies like USD or GBP, the FCNR accounts ensure your overseas income is protected from Indian taxes.

FAQs

What are the current USD rates for South Indian Bank FCNR 2026?
As of January 2026, the rates for South Indian Bank FCNR account USD deposits are tiered based on the amount:
- Up to $5 Lakh: 4.80% (1–2 years).
- Above $5 Lakh: 4.50% (1–2 years).
Is there a penalty for premature withdrawal under the South Indian Bank FCNR Account?

No. Unlike domestic fixed deposits, South Indian Bank does not charge a premature closure penalty for FCNR(B) deposits.
Which currencies are supported by South Indian Bank?
You can open an FCNR account in 8 major currencies:
- USD (US Dollar)
- GBP (Pound Sterling)
- EUR (Euro)
- AUD (Australian Dollar)
- CAD (Canadian Dollar)
- JPY (Japanese Yen)
- CHF (Swiss Franc)
- SGD (Singapore Dollar)
What happens if I close my South Indian Bank FCNR account before 1 year?

If you close the account before the completion of one full year, the bank will pay 0% interest. Only the principal amount will be returned to you.

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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 01-03-2026
*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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South Indian Bank FCNR Rates

Latest South Indian Bank FCNR Rates 2026

South Indian FCNR Important Rate Rules

The "One-Year" Rule:

No Penalty:

Compounding:

Taxation:

Full Repatriability:

Wrapping Up

Explore More Under FCNR Rates

FAQs

What are the current USD rates for South Indian Bank FCNR 2026?

Is there a penalty for premature withdrawal under the South Indian Bank FCNR Account?

Which currencies are supported by South Indian Bank?

What happens if I close my South Indian Bank FCNR account before 1 year?

Explore More Under South Indian Bank Fixed Deposits

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