FCNR- B FCNRB accounts can also be opened by NRIs. The conditions of NRE
accounts deposits as explained above are also applicable on FCNR-B deposits with
the following additional features: Only FD 1-5 years tenure can be opened. The amount is kept in Foreign Currency and repaid in the Foreign
Currency. 6 currencies i.e. GBP, USD, Euro, JPY, CAD. AUD are eligible
currencies for opening the account. No exchange risk for the customer. The bank bears the risk. Interest on the basis of 360 days in a year Half yearly intervals of 180 days
Interest exemptions from I.T. Operating by P/A not permitted. The amount of Principle and Interest is freely repatriable
Interest Rate on 1-3 years FD is LIBOR + 200 bps and that of 3-5
years FD is LIBOR + 400 bps.(Previously, it was LIBOR + 300 bps)
accounts deposits as explained above are also applicable on FCNR-B deposits with
the following additional features: Only FD 1-5 years tenure can be opened. The amount is kept in Foreign Currency and repaid in the Foreign
Currency. 6 currencies i.e. GBP, USD, Euro, JPY, CAD. AUD are eligible
currencies for opening the account. No exchange risk for the customer. The bank bears the risk. Interest on the basis of 360 days in a year Half yearly intervals of 180 days
Interest exemptions from I.T. Operating by P/A not permitted. The amount of Principle and Interest is freely repatriable
Interest Rate on 1-3 years FD is LIBOR + 200 bps and that of 3-5
years FD is LIBOR + 400 bps.(Previously, it was LIBOR + 300 bps)
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