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South Indian Bank raises FCNR deposit rate to 6.5 pc after RBI swap window
South Indian Bank has boosted interest rates on US dollar deposits for Non-Resident Indians to 6.5% per annum for 3-5 year tenures. This move follows the RBI's new USD/INR forex swap facility, enabling banks to secure stable foreign currency while managing exchange risks. The attractive returns offer NRIs a chance to grow their savings securely, with the RBI facility available until September 2026.
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thehindubusinessline.com
Canara Bank launches new FCNR(B) Special Deposit Scheme for NRIs
Canara Bank introduces FCNR(B) Special Deposit Scheme for NRIs, offering up to 6.50% interest on USD deposits with tax benefits.
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Banks dangle mega returns to lure NRIs to FCNR(B) deposits
Indian banks attract NRIs with FCNR(B) deposits offering up to 14% returns and significant leverage on investments.
