New Delhi : Punjab National Bank (PNB), one of India’s leading public sector banks, has enhanced interest rates of up to 6.10% per annum on FCNR(B) USD Deposits, providing Non-Resident Indians (NRIs) with an opportunity to grow their overseas earnings while safeguarding them against foreign exchange fluctuations.
Under the special FCNR(B) deposit offering, customers can earn competitive returns on their foreign currency savings as per below tenures:
| Tenure | Interest Rate (USD) |
| 3 years to less than 4 years | 6.00% p.a. |
| 4 years to less than 5 years | 6.05% p.a. |
| 5 years | 6.10% p.a. |
*terms & conditions apply
The FCNR(B) deposit scheme allows NRIs to maintain deposits in designated foreign currencies, helping protect their savings from exchange rate volatility while earning attractive returns. For deposits of USD 1 million and above (or equivalent), preferential rates may be offered on a negotiated basis.
Key features of the PNB FCNR(B) Deposit Scheme include:
- Protection from exchange rate fluctuations by maintaining deposits in foreign currency.
- Tax-free interest income in India, subject to prevailing tax regulations.
- Availability in all major foreign currencies.
The FCNR(B) deposit scheme is designed to help NRIs secure higher returns on their overseas earnings while maintaining liquidity and flexibility through globally accepted foreign currency deposit options.