Let's make FCNR Deposit booking easier for you:
- Hold an NRE Account with us?
Book via NetBanking - Funding from abroad?
Follow inward remittance steps - New NRI/PIO? Open Now
Let's make FCNR Deposit booking easier for you:
- Hold an NRE Account with us?
Book via NetBanking - Funding from abroad?
Follow inward remittance steps - New NRI/PIO?
Email fcnrswap@hdfc.bank.in Know more
The Foreign Currency Non-Resident (FCNR) Fixed Deposit offered by HDFC Bank allows NRIs to invest their foreign earnings in a fixed deposit account in India, denominated in foreign currencies. It provides attractive interest rates and ensures both principal and interest are fully repatriable. The deposits are available in major currencies like USD, GBP, EUR, and others, offering a secure and convenient way to grow foreign income with tax benefits.
FCNR Deposit Rates
Period
|
GBP
|
USD
|
EURO
|
JPY
|
AUD
|
CAD
|
SGD
|
Effective Date
|
|---|---|---|---|---|---|---|---|---|
| 1 Year- less than 2 years | 3.75% | 3.80% | 2.15% | 0.80% | 4.15% | 2.15% | 1.05% | September 1, 2026 |
| 2 years - less than 3 years | 3.60% | 3.55% | 1.90% | N/A | 3.90% | 2.05% | 1.10% | September 1, 2026 |
| 3 year to less than 4 years | 3.50% | 3.50% | 1.80% | N/A | 3.85% | 2.00% | 1.25% | September 1, 2026 |
| 4 years to less than 5 years | 3.40% | 3.15% | 1.65% | N/A | 3.80% | 1.95% | 1.35% | September 1, 2026 |
| 5 years only | 3.40% | 3.15% | 1.65% | N/A | 3.80% | 1.95% | 1.35% | September 1, 2026 |
Foreign Currency Non Resident (FCNR) deposit booked for 3 to 5 years tenure will have a lockin period of 1 year. This will be applicable to deposit booked between June 10, 2026 to August 31, 2026.
New Customers: Click here to talk to our Executive!! EXISTING Customers: Click here to book a deposit online through NetBanking!!
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IMPORTANT NOTES:
FCNR Deposits: Existing FCNR deposits booked under GBP, EURO & JPY currencies for the tenor 1 year 1 day to 5 year and which are due for auto renewal will be auto renewed for 1 year tenor by default.
No interest will be paid if the FCNR Deposit is prematurely withdrawn before 1 year. No Penalty will be levied on premature closure of FCNR Fixed Deposit.
With effect from July 22nd, 2023, the interest rate applicable for premature withdrawal including Partial Withdrawal on FCNR Deposits will be the rate on the date of deposit booked for the period for which deposit remained with the bank and not at the contracted rate.
Prior to July 22nd, 2023, For Premature Closure (for all amounts, and for including Sweep In / Partial Withdrawal), the final rate applicable will be lower of either: a) the rate for the original /contracted tenor for which deposit has been booked or b) the base rate applicable for the tenor for which the deposit has been in force with the bank.
The base rate is the rate applicable to deposits as on the date of booking the deposit. The paid interest amount (in case of half yearly pay out mode) will be adjusted against Principal Balance of the Deposit in case of Premature withdrawal of the FCNR Deposit before 1 year. The interest is calculated on a half yearly basis. Interest for re-investment deposit is calculated every six months and the Principal is increased to include interest earned during the previous six months. Deposit will be booked upon availability of clear funds with the bank and applicable interest rate will be given as on the date of receipt of the funds by the bank.
The interest rates are applicable for fresh and renewal fixed deposits and are subject to change from time to time. Kindly check the rates before booking the FCNR Fixed Deposit. The FCNR Deposit booking request through Netbanking will be processed within 2 working days except Saturday, Sunday, Indian public holidays, International currency holidays. The actual interest rate and forex rate being applied will be the one which is prevailing at the time of processing the deposit and not at the time of receiving the request.
Know More About FCNR Deposits!
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How to book FCNR ?
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Investment amount
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Repatriation
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Taxation
FAQs
A FCNR (Foreign Currency Non-Resident) Fixed Deposit is a Term Deposit Account for NRIs. It enables them to invest in foreign currencies like USD, GBP, or EUR. It offers tax-free interest, full repatriability of principal and interest and protection against foreign exchange rate fluctuations.
The advantages of an FCNR Fixed Deposit in India include tax-free interest earnings, full repatriability of both principal and interest, and protection against currency exchange rate fluctuations. These deposits are held in foreign currencies, offering NRIs a secure way to save. Additionally, they can be opened jointly with other NRIs, and the interest rates are often competitive, providing a stable and beneficial investment option.
You can open an FCNR Deposit with HDFC Bank for a minimum tenure of 1 year and a maximum of 5 years. No interest is paid if the FCNR Deposit is cancelled before 1 year, and there is no penalty for premature closure after 1 year.
More About FCNR Fixed Deposits
The FCNR Fixed Deposit Account with HDFC Bank offers the following features:
Hold your deposit in any of the following foreign currencies: US Dollars, Pounds Sterling, Euro, Japanese Yen, Australian Dollars, Canadian Dollars
For Wells Fargo’s Express Send, sign up with Wells Fargo Bank and follow their enrolment steps for the service.
Remitly offers a fast and secure transfer service. Register at: https://www.remitly.com/us/en/india to start sending money with delivery promises and tracking.
With TRANSFAST, enjoy instant Bank Deposits by registering at https://transfast.com and completing your transaction.
FCNR Fixed Deposits offer many benefits to global investors. Here are some of them:
Deposits held in foreign currencies minimize exchange rate risks
Principal and interest are fully repatriable in foreign currency
You get the opportunity to diversify savings across global currencies
To open an FCNR Fixed Deposit Account with HDFC Bank, you can:
Book an FCNR Deposit by giving written instructions and submitting an FCNR booking form to your branch.
Book a FCNR FD via NetBanking by following these steps: Accounts > Transact > Open FCNR FD > Fill in the required details > Confirm.
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currency deposits