Canara Bank has announced its FCNR (B) Special Deposit Scheme, designed to help Non-Resident Indians (NRIs) grow their savings while investing in India.

Canara Bank introduces FCNR(B) Special Deposit Scheme for NRIs, offering up to 6.50% interest on USD deposits with tax benefits.

Indian banks attract NRIs with FCNR(B) deposits offering up to 14% returns and significant leverage on investments.

The Reserve Bank of India has eased interest rate rules for overseas deposits. This allows banks to offer better returns on FCNR(B) and NRE accounts. The changes aim to attract…