New FCNR USD deposits offering up to 6.5% interest rate: Bank of Baroda, Indian Overseas Bank and others launch schemes for NRIs, OCIs - The Economic Times

Following RBI's measures to boost foreign currency inflows, several banks like Canara Bank, Federal Bank, Bank of Baroda, and IOB have launched FCNR(B) schemes with attractive US dollar deposit rates. These schemes, effective from June 2026, offer interest rates up to 6.50% p.a. for tenures of 3 to 5 years, with a one-year lock-in period.

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