Bank of Baroda rolls out Special FCNR(B) Deposit: Get up to 6% interest on 5-year maturity

Bank of Baroda has rolled out a new FCNR(B) Deposit Scheme with higher interest rate for non-resident Indians (NRIs). The move is in support of the RBI’s measures taken to boost foreign inflows into the country.

On the launch of the new scheme, Beena Vaheed, Executive Director, Bank of Baroda said, “The Reserve Bank of India’s recent measures to encourage foreign currency inflows into the banking system have created an enabling environment for banks to strengthen their FCNR (B) offerings for the NRI community. The move is a well-calibrated and multi-pronged measure aimed at attracting FCNR(B) deposits and strengthening the Indian Rupee. Bank of Baroda’s new deposit scheme provides NRIs with an attractive opportunity to earn enhanced returns on their foreign currency deposits.”

The special FCNR(B) deposit scheme will also enable the Bank to access foreign currency funding at competitive costs, supporting business growth and meeting the financing needs of the Indian economy, the bank said.

Features of the new BOB FCNR(B) Deposit Scheme

Under the new FCNR (B) Deposit Scheme, Bank of Baroda is offering higher interest rates for deposits in the 3 to 5 year maturity bucket across major foreign currencies including the US Dollar (USD), British Pound Sterling (GBP), Euro, Australian Dollar (AUD) and Canadian Dollar (CAD). Customers can now earn up to 6% on USD deposits, 4.75% on GBP and AUD deposits, 5.15% on CAD deposits and 3.75% on Euro deposits.

The new scheme is applicable with effect from June 11, 2026.