New FCNR USD deposits offering up to 6.5% rate
Synopsis 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
Synopsis 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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