Mumbai, 2 July 2026 (BFN Bureau): DBS Bank India has increased the interest rates on its Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits, now offering up to 5.6% per annum for Non-Resident Indians (NRIs). This change, effective from 1 July 2026, allows NRIs to earn competitive returns while holding their savings in USD.
Flexible Tenures and Benefits
The revised rates apply to tenures ranging from three to five years. This structure not only provides attractive returns but also ensures that both the principal and interest are payable in USD, minimizing risks associated with currency fluctuations.
“Our enhanced FCNR(B) offering allows NRIs to manage their finances effectively while enjoying the benefits of foreign currency savings,” said a spokesperson from DBS Bank India.
Seamless Digital Onboarding
NRIs can also take advantage of seamless digital onboarding, making it easier to open accounts from abroad. This feature aligns with DBS Bank India’s commitment to providing integrated banking solutions that cater to the diverse needs of its clients.
This news is significant for the business community as it highlights the growing competition among banks to attract NRI deposits, which can play a crucial role in strengthening foreign currency reserves.
What This Means For You
For NRIs, this increase in interest rates on FCNR(B) deposits presents an opportunity to maximize returns on their savings while mitigating risks from currency exchange rates. It’s a strategic move for those looking to secure their investments in a stable foreign currency.
Key Takeaways
- DBS Bank India offers up to 5.6% per annum on USD FCNR(B) deposits.
- Deposits are available for tenures of three to five years and are fully repatriable.
- Seamless digital onboarding allows NRIs to open accounts easily from abroad.
