Last Updated:
DBS Bank India revised FCNR(B) deposit rates for NRIs, offering up to 5.6% p.a. on USD deposits for 3-5 years, effective July 1, 2026.
Under the new rates, the bank is offering up to 5.6 per cent per annum on USD FCNR(B) deposits with tenures ranging from three to five years.
DBS Bank India has revised the interest rates on its Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits for Non-Resident Indians (NRIs), following the Reserve Bank of India’s (RBI) recent changes. The revised rates came into effect on July 1, 2026.
Under the new rates, the bank is offering up to 5.6 per cent per annum on USD FCNR(B) deposits with tenures ranging from three to five years. The offering is aimed at helping NRIs earn higher returns while keeping their savings in foreign currency.
According to the bank, FCNR(B) deposits are fully repatriable, with both the principal and interest payable in the designated foreign currency. This helps depositors reduce exposure to exchange rate fluctuations when the deposit matures.
The revised offering is part of DBS Treasures, the bank’s NRI banking and wealth management platform, which provides banking, investment and wealth management solutions for customers managing finances across multiple countries.
DBS Bank India also said eligible NRIs can complete the account opening process digitally from overseas, making it easier to open FCNR(B) deposits without visiting a branch. The bank said its integrated banking, investment and financing services are designed to help customers manage remittances, grow investments and plan long-term wealth creation.
The key features of the revised FCNR(B) deposits include interest rates of up to 5.6 per cent per annum on USD deposits, flexible tenures between three and five years, full repatriation of principal and interest, payment in foreign currency, and protection against exchange rate risks at maturity.
About the Author
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the I…Read More
Read More
Source link
[ad_3]
