Skip to content
May 16, 2025
  • About
  • Advertise
  • Contact Us
  • Privacy Policy & Terms

TheSpuzz

The FinTech Hub

Explore News

Trending News

Wooting’s 60HE v2 upgrades the best gaming keyboard with improved speed and sound
Tech
Wooting’s 60HE v2 upgrades the best gaming keyboard with improved speed and sound 01
1 minute ago
02
Crypto
China-linked consumer brand DayDayCook plans to acquire 5,000 Bitcoin

Category Collection

  • AI
  • Crypto
  • Finance
  • Market
  • Personal Finance
  • SME
  • Tech
  • Home
  • Finance
  • AU Small Finance Bank offers up to 6.30% on FCNR (B) deposits for NRIs
  • Finance

AU Small Finance Bank offers up to 6.30% on FCNR (B) deposits for NRIs

TheSpuzz Desk8 months ago02 mins
AU Small Finance Bank offers up to 6.30% on FCNR (B) deposits for NRIs

Source: Business Standard

2 min read Last Updated : Sep 25 2024 | 5:39 PM IST


AU Small Finance Bank (AU SFB) has introduced new interest rates on Foreign Currency Non-Resident (FCNR) [B] deposits for Non-Resident Indians (NRIs). The bank is offering up to 6.30% per annum on US dollar (USD) deposits for tenures of 1 year to less than 2 years. Competitive rates are also available for the British pound (GBP), euro (EUR), and Canadian dollar (CAD).


The FCNR (B) scheme allows NRIs to keep their savings in India in foreign currency while earning returns on deposits.


What are the current rates?


AU Small Finance Bank’s interest rates on FCNR (B) deposits include:

 


USD: 6.30% for 1 year to less than 2 years


GBP: 5.85% for 1 year to less than 2 years


EUR: 4.30% for 1 year to less than 2 years


CAD: 5% for 1 year to less than 2 years


For longer tenures, the bank offers:


2 years to less than 3 years


USD: 5.25%


GBP: 5%


EUR: 3.25%


CAD: 4.60%


3 years to less than 4 years


USD: 4.75%


GBP: 4.25%


EUR: 2.55%


CAD: 3.85%


4 years to less than 5 years


USD: 4.55%


GBP: 3.85%


EUR: 2%


CAD: 3.30%


5 years


USD: 4.15%


GBP: 3.55%


EUR: 2%


CAD: 3%


What benefits do FCNR (B) accounts offer?


According to AU SFB, NRIs can benefit from:


Tax-free interest: The interest earned on these deposits is exempt from Indian income tax.


Easy repatriation: Funds can be transferred in the foreign currency of the account.


Joint account facility: NRIs can open joint FCNR (B) accounts with other NRIs.

First Published: Sep 25 2024 | 5:39 PM IST



Read Full Article

Tagged: AU Small Finance Bank BS Business Standard Canadian Dollar rates Euro deposit rates FCNR B deposits GBP deposit rates joint account FCNR NRI deposit rates repatriation benefits tax-free interest USD interest rates

Post navigation

Previous: How do you save money with credit cards? Discover 10 effective methods | Mint
Next: Why did Caroline Ellison do it?

Leave a Reply

Your email address will not be published. Required fields are marked *

Related News

Ministers’ group discusses merger of GST compensation cess into taxes

Ministers’ group discusses merger of GST compensation cess into taxes

TheSpuzz Desk7 months ago 0
Adani Energy stock rises over 3% on acquiring two electric utility firms

Adani Energy stock rises over 3% on acquiring two electric utility firms

TheSpuzz Desk7 months ago 1
New portal for filing I-T returns aims to simplify work for taxpayers

New portal for filing I-T returns aims to simplify work for taxpayers

TheSpuzz Desk7 months ago 2
AMCs, broking stocks rally up to 15%; Aditya Birla, UTI, CAMS at new peak

AMCs, broking stocks rally up to 15%; Aditya Birla, UTI, CAMS at new peak

TheSpuzz Desk7 months ago 0

Trending News

Tariffs, tantrums & Trump: What should investors do amid new rules of global trade? | Stock Market News
Market
Tariffs, tantrums & Trump: What should investors do amid new rules of global trade? | Stock Market News
windfall ahead for government as RBI reviews changes to capital framework? | Stock Market News
Market
windfall ahead for government as RBI reviews changes to capital framework? | Stock Market News
Stock market today: Sensex today slips 200 points, Nifty ends near 25,000 on pullback in IT stocks | Stock Market News
Market
Stock market today: Sensex today slips 200 points, Nifty ends near 25,000 on pullback in IT stocks | Stock Market News
TheSpuzz - The Fintech Hub 2025. Powered By BlazeThemes.
  • About
  • Advertise
  • Terms
  • Contact Us