Bandhan Bank revises FCNR(B) deposit rates; NRIs can get up to 7.1% on US dollar deposits

After a slew of banks revised interest rates on Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits, Bandhan Bank also followed suit and increased rates on its FCNR(B) deposits on Friday (June 19, 2026). The NRI community can now earn up to 7.1% on US dollar-denominated FCNR(B) deposits of USD 1 million and above for tenures ranging from 3 to 5 years, according to a release issued by the bank.

"We are pleased to introduce this attractive FCNR(B) deposit offering for our NRI customers at a time when they are seeking stability and value in their overseas investments. This offering allows them to lock in competitive returns for a longer duration while effectively mitigating currency-related risks," said Rajinder Kumar Babbar, executive director and chief business officer of Bandhan Bank.

The recent hike in rates follows measures announced by the RBI aimed at attracting foreign currency inflows into the country.

Earlier this week, the RBI temporarily removed the interest rate ceiling on fresh FCNR(B) and NRE deposits until September 30, 2026.

Equitas Small Finance Bank also revised its FCNR(B) deposit rates upwards on Thursday (June 18, 2026). NRIs can now earn up to 7.13% per annum on US dollar-denominated FCNR(B) deposits for tenures ranging from 3 to 5 years.