Union Bank raises 3- to 5-yr FCNR(B) deposit rates to 6.10-6.60% from Tue
This story was originally published at 12:30 IST on 24 June 2026
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MUMBAI – Union Bank of India raised its interest rates on foreign currency non-resident dollar-denominated bank deposits for three- to five-year tenors effective Tuesday. The revision comes after the Reserve Bank of India announced a concessional dollar-rupee swap facility for fresh FCNR(B) deposits earlier in June. The state-owned lender had last revised the rates on May 30.
Union Bank's revised interest rates on FCNR(B) deposits for three to five years range from 6.10% to 6.45% for deposits of less than $1 million, while rates across the same tenure for deposits of more than $1 million range from 6.20% to 6.60%, as per the bank's website.
At 1220 IST, shares of Union Bank were traded marginally lower at INR 175.01 apiece on the National Stock Exchange. For the March quarter, the bank had reported a net profit of INR 53.16 billion on total income of INR 318.51 billion.
Union Bank of India's FCNR(B) deposit rates for various tenures are as follows:
| Tenure | Revised rate (%) | Previous rate (%) | ||
| Deposits of less than $1 million | Deposits of $1 million and above | Deposits of less than $2 million | Deposits of $2 million and above | |
| Three-less than four year | 6.10 | 6.20 | 3.35 | 3.40 |
| Four-less than five year | 6.25 | 6.40 | 3.00 | 3.05 |
| Five year | 6.45 | 6.60 | 3.05 | 3.10 |
End
US$1 = INR 94.65
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Diksha Tripathy
Edited by Avishek Dutta
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