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Frequently Asked Questions

In which currency is my FCNR (B) deposit maintained?

Your FCNR deposit will be maintained in the following currency as specified / choose at the time of booking deposit. These are; USD, GBP, EURO and JPY currencies.

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Are these accounts taxable in India?

As per current guidelines, the principal amount as well as interest earned on FCNR deposit is exempted form Income tax in India.

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Can I repatriate funds invested in my FCNR (B) deposit?

Yes, the funds held in your FCNR (B) deposit are fully and freely repatriable (both principal and Interest).

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What should be the minimum tenure to earn any interest on FCNR (B) deposit?

In order to earn interest on your FCNR (B) fixed deposit, it needs to be kept for minimum of 1 year.

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What is the maximum tenure of FCNR (B) deposits?

The FCNR (B) deposit can be kept for maximum of 5 years.

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