| FCNR (B) Term Deposit Interest RatesPer Annum(with effect from 13thNov, 2023) | |||||
|---|---|---|---|---|---|
| Currency | 1 year and above but less than 2 years | 2 years and above but less than 3 years | 3 years to less than 4 years | 4 years to less than 5 years | 5 years |
| USD | 6.10% | 5.35% | 3.50% | 3.50% | 3.50% |
| GBP | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% |
| EUR | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
| AUD | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% |
| CAD | 3.00% | 3.00% | 3.00% | 3.00% | 2.80% |
*Subject to ceiling of ARR rates relevant for the period
Note:DCB RFC Deposit is available from 1 to 3 years duration in the permitted foreign currencies USD, GBP, EUR, AUD and CAD . Interest rates on DCB RFC deposits are similar to FCNR deposits of equivalent duration/ tenor and currency.
| Important Terms and Conditions | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Any deposit for USD, GBP, EUR, CAD or AUD amount equivalent to or more than INR 2 Crore will considered as bulk deposit and the interest rates mentioned above are applicable to deposit amount less than INR 2 Crore equivalent in USD, GBP, EUR, CAD or AUD. For bulk deposit interest rates please contact nri@dcbbank.com . | ||||||||||||||
| There is no additional benefit to NR Senior Citizen | ||||||||||||||
| Referring to the subsections (1) and (5) of Section 26(A) of the Banking Regulation Act, 1949 and Foreign Exchange Management (Crystallization of Inoperative Foreign Currency Deposits) Regulations, 2014 dated 21-03-2014, RBI has advised AD - Banks to convert the credit balances in any inoperative foreign currency denominated deposit into Indian Rupee, in the manner indicated below : | ||||||||||||||
| In case a foreign currency denominated deposit with a fixed maturity date remains inoperative for a period of three years from the date of maturity of the deposit, at the end of the third year, the authorised bank shall convert the balances lying in the foreign currency denominated deposit into Indian Rupee at the exchange rate prevailing as on that date. Thereafter, the depositor shall be entitled to claim either the said Indian Rupee proceeds and interest thereon, if any, or the foreign currency equivalent (calculated at the rate prevalent as on the date of payment) of the Indian Rupee proceeds of the original deposit and interest, if any, on such Indian Rupee proceeds. | ||||||||||||||
| In case of foreign currency denominated deposit with no fixed maturity period, if the deposit remains inoperative for a period of three years (debit of bank charges not to be reckoned as operation), the authorised bank shall, after giving a three month notice to the depositor at his last known address as available with it, convert the deposit from the foreign currency in which it is denominated to Indian Rupee at the end of the notice period at the prevailing exchange rate. Thereafter, the depositor shall be entitled to claim either the said Indian Rupee proceeds and interest thereon, if any, or the foreign currency equivalent (calculated at the rate prevalent as on the date of payment) of the Indian Rupee proceeds of the original deposit and interest, if any, on such Indian Rupee proceeds. | ||||||||||||||
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| Penal interest and premature withdrawal charges for RFC Deposits shall be similar to FCNR deposit of equivalent tenor and currency. | ||||||||||||||
| FCNR Deposit interest rates are compounded half yearly. | ||||||||||||||
| The FCNR (B) deposit interest rates are subject to change and the interest rate prevailing on the day of processing the FCNR deposit booking will be applied. | ||||||||||||||
