1 / 5HDFC Bank: Higher NRI Returns: HDFC Bank has raised FCNR(B) deposit rates for the 3-5 year maturity bucket by up to 260 basis points to 6%, following the RBI’s decision to absorb hedging costs under its forex swap facility aimed at attracting foreign currency inflows.
2 / 5PNB: Dollar Inflow Push: Punjab National Bank has revised FCNR(B) deposit rates to 6%-6.10% for deposits with maturities of three to five years and expects to mobilise around USD 2.5 billion through the scheme.
3 / 5Central Bank of India: Rates revised upward: Central Bank of India has increased FCNR(B) deposit rates for the 3-5 year maturity segment to 6.00% after the RBI announced measures to encourage foreign currency deposits.
4 / 5Karur Vysya Bank: Biggest rate hike: Karur Vysya Bank has raised its FCNR(B) USD deposit rates for 3-5 year maturities by 437 basis points to 7%, citing the RBI’s at-par USD/INR swap facility and regulatory relaxations.
5 / 5AU Small Finance Bank: Highest rate offer: AU Small Finance Bank has increased its USD deposit rate from 5.15% to 7.10% per annum, making it one of the highest FCNR(B) deposit rate offerings in the banking sector.
