NRI Foreign Currency Non-Resident account deposits (FCNR)

CUB's NRI customers can enjoy highly flexible and rewarding FCNR Fixed deposits

  • Deposit can be held in foreign currency - AUD, CAD, EUR, GBP, JPY, USD, SGD
  • Deposit can be placed for a minimum period of one year and upto a maximum period of 5 years
  • Deposit can be opened as Cumulative or Non - Cumulative
  • Deposit can be opened jointly with a Non - Resident on Either or Survivor/Former or Survivor basis
  • Deposit can also be opened jointly with a Resident close relative on Former or Survivor basis
  • Interest earned on the deposit is TAX FREE
  • In case of Non Cumulative deposit, you can receive interest half - yearly in foreign currency or Indian Rupee
  • Principal together with interest is fully repatriable
  • NO SERVICE CHARGES for inward remittances from abroad
  • Funds can be transferred from FCNR Account or NRE Account (at the ongoing exchange rate)
  • You can fix the exchange rate for the maturity value by booking forward contract for converting the maturity value into foreign currency (AUD, CAD, EUR, GBP, JPY, SGD, USD) or Indian Rupees (for maturity period of one year or less)
  • No interest is payable if deposit is preclosed before one year
  • Preclosure of deposit after one year but before maturity will attract penalty as per the Bank’s policy from time to time
  • Conversion of foreign currency into Indian Rupees or vice versa will attract service tax as per GoI notification
  • Loan against the security of deposit can be obtained subject to RBI guidelines and Bank’s policy in force
  • Attractive interest rates
  • Click here to download opening form
  • Click here to know current interest rate
  • Click here for Modes of remittances to remit funds
  • For queries, contact us -