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INTEREST RATES ON FCNR DEPOSITS
FCNR scheme: Withholding tax fear haunts US, Singapore NRIsNon-resident Indians residing in Singapore and the United States are expressing significant concerns over withholding taxes. These taxes th...21 Jul, 2026, 12.40 AM IST- How NRIs, OCIs can get 45% annual return on $1 lakh FCNR (B) deposit as this bank in India offers 19X leverage; Should you go for it?HSBC Bank's IFSC unit offers Non-Resident Indians significant leverage on FCNR(B) deposits. This strategy allows investors to borrow up to ...20 Jul, 2026, 04.50 PM IST
- Lagging on FCNR(B) deposit collections, banks pin hopes on September-end rushBanks anticipate a surge in FCNR-B deposits before the September deadline. Initial inflows have been below expectations, but partnerships a...20 Jul, 2026, 04.20 PM IST
- Regional conflict-driven curbs weigh on flow: FCNR(B) inflows may miss initial estimates, says HDFC Bank CEOExpected FCNR(B) deposit inflows are now projected at fifty to fifty-five billion dollars. Taxation complexities for nonresidents and tight...20 Jul, 2026, 12.48 AM IST
- IDBI Bank ups FCNR ante with 16% on offerThe scheme allows customers to borrow up to 12 times their deposit amount and offers indicative effective annual returns of up to 16.2%, de...18 Jul, 2026, 01.08 AM IST
- NRIs can bring USD 70-80 bn into India through FCNR deposits: ExpertNon-Resident Indians can bring seventy to eighty billion US dollars into India. This inflow is possible through the ongoing FCNR initiative...17 Jul, 2026, 11.53 AM IST
- HSBC Offers 19x FCNR(B) Leverage in GIFT CityHSBC's GIFT City unit offers NRIs significant leverage on FCNR deposits. An NRI can borrow up to nineteen times their own funds for deposit...17 Jul, 2026, 05.56 AM IST
- FCNR(B) FD interest rates for NRIs: HDFC Bank, SBI, PNB, ICICI Bank and Axis Bank- which offers highest maturity on USD depositsGovernment support for FCNR(B) deposits until September 2026 has sparked renewed investor interest. Banks are now offering higher interest ...16 Jul, 2026, 01.31 PM IST
- Union Bank Q1 Results: Profit rises over 27% to Rs 5,641 croreUnion Bank of India achieved a remarkable 27.5% surge in its net profit for the June quarter. The bank experienced a subtle rise in net int...15 Jul, 2026, 06.46 PM IST
- RBI governor meets bank CEOs to discuss AI, geopolitics and ECL guidelinesCentral bank governor Sanjay Malhotra met bank chief executives on Tuesday. Geopolitical complexities and artificial intelligence were key ...15 Jul, 2026, 05.39 AM IST
- Nirmala Sitharaman calls for greater NRI outreach to boost foreign currency inflowsFinance Minister Nirmala Sitharaman urged banks to intensify outreach to non-resident Indians. Innovative deposit products and foreign curr...14 Jul, 2026, 12.53 AM IST
- FM Nirmala Sitharaman calls for enhanced NRI outreach to sustain foreign currency mobilisation momentumFinance Minister Nirmala Sitharaman urged banks to enhance outreach to Non Resident Indians. Banks are offering attractive returns on forei...13 Jul, 2026, 06.42 PM IST
- Indian Bank aims to recover Rs 5,500 from bad loans during FY27: MD Binod KumarIndian Bank aims for Rs 5,500 crore bad loan recovery this financial year. The bank has already collected USD 140 million in foreign curren...12 Jul, 2026, 10.56 AM IST
- FM Sitharaman to meet PSB chiefs to review foreign currency deposit driveFinance Minister Nirmala Sitharaman will meet public sector bank chiefs Monday. They will review efforts to attract foreign currency deposi...12 Jul, 2026, 10.45 AM IST
- UK tax rule weakens FCNR deposit appeal for wealthy NRIsA steep UK tax on 'global earnings' and the bar on treating interest on certain loans as 'deductible' have reduced the appeal of foreign cu...11 Jul, 2026, 01.05 AM IST
- As West Asia boils again, RBI likely to assess FCNR flowsThe Reserve Bank of India will review foreign currency deposit inflows next week. This meeting follows rising Middle East tensions and pote...10 Jul, 2026, 06.32 AM IST
- FCNR(B) FD vs NRE FD: Where can NRIs earn more on $50,000 investment? Compare returns, currency risk and tax benefitsNon-resident Indians (NRIs) and overseas citizens of India (OCIs) can consider investing in FCNR(B) and NRE fixed deposits to achieve relia...08 Jul, 2026, 01.12 PM IST
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