Axis Bank raises 3-5 year FCNR(B) deposit rates by up to 305 bps to 6%
This story was originally published at 13:29 IST on 11 June 2026
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--Axis Bank raises 3-5 year FCNR(B) deposit rates by up to 305 bps to 6.00%
MUMBAI – Axis Bank Ltd. has raised its interest rates on foreign currency non-resident dollar-denominated bank deposits for three to five-year tenures by up to 305 basis points to 6.00%, effective Thursday, according to an update on the bank's website. The private sector lender has left the one-year to less than three-year FCNR(B) deposit rates unchanged.
Several banks have revised FCNR(B) deposit rates after the Reserve Bank of India introduced a concessional swap facility with an aim to attract foreign currency deposits.
For the March quarter, Axis Bank had reported net profit of INR 70.71 billion and total income of INR 387.47 billion. At 1321 IST, shares of the bank traded nearly 1% higher at INR 1,325.20 apiece on the National Stock Exchange.
Axis Bank's FCNR(B) deposit rates for various tenures are as follows:
| Tenure | Below $1 mln | Above $1 mln | ||
| Revised Rate (%) | Previous Rate (%) | Revised Rate (%) | Previous Rate (%) | |
| One- up to two year | 4.00 | 4.00 | 4.00 | 4.00 |
| Two- up to three year | 3.50 | 3.50 | 3.50 | 3.50 |
| Three- up to four year | 6.00 | 3.25 | 6.00 | 3.25 |
| Four- up to five year | 6.00 | 2.95 | 6.00 | 2.95 |
| Five year | 6.00 | 2.95 | 6.00 | 2.95 |
End
US$1 = INR 95.70
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Nandini Sinha
Edited by Akul Nishant Akhoury
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