ESAF Small Fin Bk raises 3- to 5-year FCNR (B) deposit rates by 300-313 bps
This story was originally published at 22:18 IST on 15 June 2026
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MUMBAI – ESAF Small Finance Bank Ltd. Monday raised interest rates on dollar-denominated foreign currency non-resident bank deposits by 300-313 basis points to 7.00-7.13% for three- to five-year tenures. The lender reduced interest rates for FCNR (B) deposits for two- to three-year tenure by 40-50 bps.
Regulations suggest FCNR (B) deposits with a value above $500,000 in the tenure bucket less than three years are eligible for additional interest of 0.10%, while those in the three- to five-year bucket are eligible for an additional interest of 0.13%, the bank said.
The Reserve Bank of India's dollar-rupee swap facility for fresh deposits allows banks to hedge inflows from FCNR(B) deposits at no cost and is applicable on a minimum tenure of three years and maximum tenure of five years. The central bank has allowed banks to price these deposits as per their internal policy, but within the overall regulatory ceiling.
On Monday, shares of ESAF Small Finance Bank ended at INR 29.10 apiece on the National Stock Exchange, up over 2%. For the March quarter, the bank had reported net profit of INR 235.10 million and total income of INR 11.96 billion.
ESAF Small Finance Bank's FCNR(B) deposit rates for dollars for various tenures are as follows:
| Period | Rates effective from Jun. 15 (%p.a.) (For less than $500,000) | Rates effective from Jun. 15 (% p.a.) (For $500,000 & above) | Existing Rates |
| 365 days | 5.00 | 5.10 | 5.00 |
| 366 days | 5.10 | 5.20 | 5.10 |
| 367 days to 729 days | 5.00 | 5.10 | 5.00 |
| 730 days to 1095 days | 4.00 | 4.10 | 4.50 |
| 1096 days to 1460 days | 7.00 | 7.13 | 4.00 |
| 1461 days to 1826 days | 7.00 | 7.13 | 4.00 |
End
Reported by Meera Nair
Edited by Deepshikha Bhardwaj
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