10/6/2026, 9:46:02 pm

HDFC Bank, peers hike FCNR deposit rates to 6% following RBI

Domestic banks, including SBI, HDFC Bank, and Central Bank of India, have raised Foreign Currency Non-Resident (FCNR(B)) deposit rates by over 250 basis points, with some banks offering up to 7%. SBI, the country's largest lender, offers a special scheme with a peak rate of 6% for deposits over $1 million for 5-year deposits.