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April 9th, 2017, 08:54 AM
Super Moderator
 
Join Date: Mar 2012
Re: SBI FCNR Rates

The State bank of India is provides detail of Foreign Currency Non-Resident account.
The Deposit is denominated in foreign currency and can be opened in USD, GBP, EURO, CAD, JPY, or AUD.

Deposit can be opened either individually or jointly with other NRIs / PIOs / OCIs
Both principal and interest are payable in foreign currency.

There is no exchange loss on principal and interest

Account types permissible:
Term Deposit
Special Term Deposit

Foreign Currency Non-Resident Deposits (FCNR)
Foreign Currency Non-Resident Deposits (FCNR(B)) (% P.A.) w.e.f. 01.03.2017

CURRENCY USD GBP EURO CAD AUD JPY
Period Of The Deposit Rate Yield Rate Yield Rate Yield Rate Yield Rate Yield Rate Yield

1 year to less than 2 years 2.08 2.14 1.16 1.19 0.15 0.15 1.94 2.00 2.59 2.68 0.05 0.05

2 years to less than 3 years 2.57 2.69 1.58 1.63 0.30 0.31 2.11 2.20 2.94 3.09 0.05 0.05

3 years to less than 4 years 2.73 2.91 1.64 1.71 0.30 0.31 2.23 2.35 3.10 3.32 0.05 0.05

4 years to less than 5 years 2.87 3.11 1.72 1.81 0.30 0.31 2.34 2.50 3.45 3.79 0.05 0.05

5 years only 3.00 3.26 1.79 1.89 0.40 0.41 2.44 2.62 3.57 3.93 0.05 0.05

FCNB Premium Account

FCNR (B) deposit tenor: 1 year and up to 5 years
Forward contract tenor: 1 year and up to 5 years
Minimum deposit:
For tenor of 1 year: USD 2000, GBP 2000, EUR 2000, CAD 2000, AUD 2000, or JPY 200,000
For tenor of above 1 year and up to 5 years: USD 2,50,000 or equivalent


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