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Union Bank of India FCNR Rates

The Union Bank of India FCNR Rates start from 0.01% and go up to USD 4.50%. The FCNR (B) deposits are available in six major global currencies, USD, GBP, EUR, AUD, CAD, and JPY, with flexible tenures ranging from 1 to 5 years. It has tax-free interest rates, ensuring your global wealth remains fully repatriable and secure.

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Latest Union Bank of India FCNR Rates 2026

Both tables show the current Union Bank of India FCNR rates for the 6 different currencies:

FCNR (B) Deposits (in USD & GBP currencies):

Maturity Period	USD < 200,000		USD >= 200,000		GBP
	Existing	Revised	Existing	Revised	Existing	Revised
1YR<2YRS	5.00	4.40	5.05	4.50	4.05	4.05
2YRS<3YRS	3.90	3.55	3.90	3.60	3.00	3.00
3YRS<4YRS	3.70	3.35	3.70	3.40	2.50	2.50
4YRS<5YRS	3.30	3.00	3.30	3.05	2.50	2.50
5YRS ONLY	3.40	3.05	3.40	3.10	2.50	2.50

Union Bank of India FCNR Rates w.e.f. 30.05.2026

FCNR (B) Deposits (for all other currencies except USD & GBP):

Maturity Period	JPY		EUR		CAD		AUD
	Existing	Revised	Existing	Revised	Existing	Revised	Existing	Revised
1YR<2YRS	0.20	0.20	2.75	2.75	3.00	3.00	3.75	3.75
2YRS<3YRS	0.01	0.01	2.05	2.05	2.75	2.75	3.50	3.50
3YRS<4YRS	0.01	0.01	1.55	1.55	2.50	2.50	3.00	3.00
4YRS<5YRS	0.01	0.01	1.55	1.55	2.50	2.50	3.00	3.00
5YRS ONLY	0.01	0.01	1.55	1.55	2.50	2.50	3.00	3.00

Union Bank of India FCNR Rates w.e.f. 30.05.2026

Key Features & Strategic Benefits of Union Bank of India FCNR Rates

Currency Hedging:

Since your deposits are held in 6 foreign currencies (USD, GBP, EUR, AUD, CAD, or JPY), you are fully insulated from Rupee depreciation. You receive your maturity proceeds in the same currency you invested.
100% Tax-Free Returns:

Interest earned on FCNR (B) accounts is exempt from Indian Income Tax. There is no TDS on the interest credited, maximising your actual take-home yield.
Full Repatriability:

You can freely transfer both the principal and the interest back to your overseas account or use them for payments in India without any regulatory hurdles.
Flexible Funding:

You can open an account using inward remittances from abroad, foreign currency traveller’s cheques, or by transferring funds from your existing NRE or FCNR accounts within India.
Premature Withdrawal:

Union Bank generally does not charge a penalty for premature closure of FCNR (B) deposits, provided the funds have stayed with the bank for at least 12 months. However, the interest rate paid will be the one applicable for the actual period the deposit was held, not the original contracted rate.
Liquidity Via Loan Against FD:

If you need funds but don't want to break your FD, Union Bank allows you to take a loan against your FCNR (B) balance:
- Loan Amount: Up to 90% of the deposit value.
- Currency Options: You can take the loan in Indian Rupees (INR) for local needs or in Foreign Currency for overseas requirements.
- Benefit: Your deposit continues to earn interest even while you utilise the loan facility.

Conclusion

The Union Bank of India FCNR rates range from 0.01% up to 4.50% p.a. with strong, guaranteed returns across six major global currencies while protecting your wealth from Rupee depreciation. Coupled with full repatriability and flexible liquidity options, it stands as a highly effective tool for managing international wealth. Additionally, all interest earned on any FCNR account is completely tax-free in India and can be fully transferred back to your overseas account without any restrictions.

FAQs

What are the latest Union Bank of India FCNR Rates?

The latest interest rates start from 0.01% and go up to 4.50% on USD for 1 year to less than 2 years.
What are the currencies in which I can invest under Union Bank FCNR Rates?
There are a total of 6 currencies under the Union Bank FCNR account, namely:
- USD
- GBP
- JYP
- EUR
- CAD
- AUD

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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 01-06-2026
*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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Union Bank of India FCNR Rates

Latest Union Bank of India FCNR Rates 2026

FCNR (B) Deposits (in USD & GBP currencies):

FCNR (B) Deposits (for all other currencies except USD & GBP):

Key Features & Strategic Benefits of Union Bank of India FCNR Rates

Currency Hedging:

100% Tax-Free Returns:

Full Repatriability:

Flexible Funding:

Premature Withdrawal:

Liquidity Via Loan Against FD:

Conclusion

Explore More Under FCNR Rates

FAQs

What are the latest Union Bank of India FCNR Rates?

What are the currencies in which I can invest under Union Bank FCNR Rates?

Explore More Under Union Bank Fixed Deposits

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