Ujjivan Small Finance Bank revises USD FCNR(B) Deposit Rate to 7.50% p.a. for a tenure of 3-5yrs

  In line with the Reserve Bank of India’s recent policy measures to encourage higher foreign currency inflows through Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits, Ujjivan Small Finance Bank has revised the interest rate on its USD FCNR(B) deposits for the 3 to 5-year tenure to 7.50% p.a. This revision reinforces the Bank’s commitment to offering competitive, customer-centric banking solutions for the Non-Resident Indian (NRI) community while supporting India’s efforts to strengthen its foreign exchange reserves and external sector.

Commenting on the development, Mr. Hitendra Jha, Head – Retail Liabilities, TASC & TPP, Ujjivan Small Finance Bank, said:

“The RBI’s policy initiative is a significant step towards attracting stable foreign currency inflows into the banking system while reinforcing confidence among Non-Resident Indians. In alignment with this vision, Ujjivan SFB has enhanced the interest rate on USD FCNR(B) Deposits for the 3 to 5-year tenure from the earlier offering to 7.50% p.a., making it one of the most competitive rates available in the industry. This enhancement reflects our commitment to providing attractive investment opportunities for NRIs while contributing to India’s foreign exchange reserves and long-term financial stability.”

With this enhanced offering, Ujjivan SFB aims to strengthen NRI participation, mobilize long-term foreign currency deposits, and support the nation’s broader objective of sustainable economic growth and external sector resilience.