IDBI Bank Introduces FCNR(B) Special Opportunity Deposit in USD with Attractive Returns for NRIs on Foreign Currency Deposits
India, 2026: IDBI Bank has introduced FCNR(B) Special Opportunity Deposit in USD, offering enhanced returns to Non-Resident Indian (NRI) customers seeking secure and attractive foreign currency investment opportunities. The Special Rates will be for limited period effective June 11, 2026 till September 30, 2026.
Under this scheme, for deposits up to USD 1 Million, the interest rate is 6.00% for maturity of 3 years to less than 4 years, 6.05% for 4 years to less than 5 years, and 6.10% for 5 years. For deposits more than USD 1 Million and up to USD 5 Million, the rates are 6.05% for 3 years to less than 4 years, 6.10% for 4 years to less than 5 years, and 6.15% for 5 years. For deposits above USD 5 Million, the interest rates are 6.10% for 3 years to less than 4 years, 6.15% for 4 years to less than 5 years, and 6.20% for 5 years.
The key features of this deposit include that principal and interest are fully repatriable, there is protection against exchange rate fluctuations as deposits are maintained in USD only, interest earned is exempt from income tax in India subject to prevailing regulations, and there is a minimum lock-in period of 1 year.
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