HDFC Bank raises 3-5 year FCNR(B) deposit rates to 6.25% from 6% earlier
This story was originally published at 16:27 IST on 1 August 2026
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--HDFC Bank raises 3-5 year FCNR(B) deposit rates to 6.25% from 6% earlier
NEW DELHI – HDFC Bank Ltd. raised its interest rates on foreign currency non-resident dollar-denominated bank deposits for tenures ranging from three to five years to 6.25% effective Saturday, according to an update on the bank's website. The largest private sector bank raised its dollar deposit rate by 25 basis points.
Deposits maturing in one year to less than two years will continue to get interest at 3.50% while those maturing between two and less than three years will continue to get a rate of 3.25%.
In a bid to boost inflows, the Reserve Bank of India's in June announced a swap window where it will bear the hedging costs of banks converting capital raised through mobilising three- to five-year FCNR(B) deposits. The central bank has allowed banks to price these deposits as per their internal policy, but within the overall regulatory ceiling.
The central bank's measures to boost foreign capital inflows attracted $40.82 billion through foreign currency non-resident bank deposits, overseas foreign currency borrowings, and external commercial borrowings from Jun. 8 till Friday, the central bank said earlier in the day. A major portion of these inflows came from FCNR(B) deposits at $36.73 billion. This was over 85% of the market expectation of $43 billion to be raised through these deposits by Sept. 30, the last day of the RBI's zero-cost swap facility.
For June quarter, HDFC Bank had reported a net profit of INR 190.60 billion, compared to INR 181.55 billion a year ago. Total income of the lender fell over 7% to INR 921.84 billion in the June quarter. Friday, shares of the bank closed nearly 1% lower at INR 748.15 on National Stock Exchange. End
| Tenor | Revised rates (%) on deposits | Previous rate (%) |
| One year to less than two years | 3.50 | 3.95 |
| Two years and less than three years | 3.25 | 3.60 |
| Three years and less than four years | 6.25 | 6.00 |
| Four years and less than five years | 6.25 | 6.00 |
| Five years | 6.25 | 6.00 |
End
US$1 = INR 95.38
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Vaishali Tyagi
Edited by Deepshikha Bhardwaj
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