FCNR(B) DEPOSITS Interest rate per annum on FCNR(B) Deposits with effect from 1st April 2021
Maturity period/Currency USD
GBP
EUR
AUD
CHF
JPY
CAD
1 Year to less than 2 Year 0.88% 0.78% 0.14% 0.78% 0.00% 0.62% 1.27%
2 Year to less than 3 Year  0.90% 0.89% 0.11% 0.79% 0.00% 0.59% 1.23%
3 Year to less than 4 Year 1.12% 1.03% 0.16% 0.96% 0.02% 0.59% 1.53%
4 Year to less than 5 Year 1.38% 1.17% 0.22% 1.26% 0.11% 0.61% 1.81%
5 Year  1.63% 1.29% 0.30% 1.52% 0.21% 0.63% 2.03%

Ø There is no pre closure penalty for FCNR(B) deposits.

Ø No interest will be paid if closed within one year and one day (366days).