FCNR fixed deposits are one the safe and high returns yielding investments for NRIs living in United Kingdom. Returns of FCNR fixed deposits are way higher than the fixed deposit investment options provided by local banks of United Kingdom. As on June 21st 2014, Fixed Term Deposit accounts offered by top banks of United Kingdom are giving returns close to 1.8% whereas an FCNR Fixed deposit returns are at 4.99%! So FCNR offers 2.7x more returns compared to local bank deposits.
FCNR fixed deposits are an unique opportunity for NRIs provided by Indian banks to attract more investments. This investment medium provides a win-win opportunity for the investors as well as the banks. Investors get high returns and banks get foreign investments, which are key for expanding their international business.
One of the other major benefits of FCNR fixed deposits is it enables investors to invest in India without converting their money to Indian Rupees. You can invest your earning in UK Pounds and get the returns in UK Pounds. This gives a major relief to investors from exchange rate fluctuations.
In order to help the NRIs living in United Kingdom to find the best FCNR fixed deposit account, we curated this information on interest rates offered by major Indian banks in an easy to understand manner. You can quickly glance at this page and find out which Indian bank offers highest interest rate. Hope you like our work.
The interest rates were last updated on February 2018
|Bank||1 Year||2 Years||3 Years||4 Years||5 Years||Bank Website|
|ICICI Bank||1.21%||1.43%||1.59%||1.70%||1.79%||Visit bank|
|Andhra Bank||1.63%||1.80%||1.89%||1.97%||2.03%||Visit bank|
|Bank of Maharastra||0.96%||1.18%||1.34%||1.70%||1.79%||Visit bank|
|Catholic Syrian Bank||1.21%||1.43%||1.59%||1.70%||1.79%||Visit bank|
|DBS Bank||0.96%||1.18%||1.34%||1.45%||1.54%||Visit bank|
|Dena Bank||1.43%||1.58%||1.70%||1.78%||Visit bank|
|HDFC Bank||2.06%||2.59%||2.74%||0.47%||2.94%||Visit bank|
|IDBI Bank||1.31%||1.51%||1.68%||1.78%||1.88%||Visit bank|
|IndusInd Bank||0.76%||0.98%||1.14%||1.25%||1.34%||Visit bank|
|Karnataka Bank||1.86%||2.08%||2.34%||2.45%||2.54%||Visit bank|
|Karur Vysya Bank||1.46%||1.68%||1.59%||1.70%||1.79%||Visit bank|
|Kotak Mahindra Bank||0.94%||0.99%||1.10%||Visit bank|
|State Bank of India||2.94%||2.95%||3.14%||3.27%||Visit bank|
|Syndicate Bank||1.26%||1.48%||1.64%||1.75%||1.84%||Visit bank|
|Tamilnad Mercantile Bank||1.96%||2.18%||2.59%||2.90%||2.99%||Visit bank|