There is good news for Non-Resident Indians (NRIs) looking to earn better returns on their foreign currency savings.
DBS Bank India has revised the interest rates on its Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits.
The new rates came into effect on July 1, 2026, following the Reserve Bank of India’s (RBI) recent policy changes.
Under the revised rates, the bank is offering up to 5.6% interest per year on US Dollar (USD) FCNR(B) deposits with tenures of three to five years.
What Are the Benefits of FCNR(B) Deposits?
FCNR(B) deposits allow NRIs to keep their savings in foreign currency while earning interest.
One of the biggest advantages is that both the deposited amount and the interest are paid back in the same foreign currency.
This helps investors avoid losses caused by exchange rate fluctuations when the deposit matures.
Another major benefit is that these deposits are fully repatriable, meaning both the principal amount and the interest can be transferred abroad without restrictions.
Digital Account Opening for NRIs
DBS Bank India has also made it easier for eligible NRIs to invest in FCNR(B) deposits.
Customers can complete the account opening process online from overseas, without having to visit a bank branch in India.
The FCNR(B) deposits are offered through DBS Treasures, the bank’s NRI banking and wealth management platform, which provides banking, investment, and wealth management services for customers managing finances across different countries.
Key Features of the Revised FCNR(B) Deposits
The updated FCNR(B) deposits offer several benefits for NRIs:
Interest rates of up to 5.6% per annum on USD deposits.
Deposit tenures ranging from three to five years.
Full repatriation of both the principal amount and interest.
Maturity proceeds paid in the original foreign currency.
Protection from exchange rate fluctuations at the time of maturity.
For NRIs looking for stable returns while keeping their savings in foreign currency, the revised FCNR(B) deposit rates provide another attractive investment option.
