Central Bk of India ups 3-5 yr FCNR(B) deposit rates by up to 253 bps to 6%
This story was originally published at 16:51 IST on 10 June 2026
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--Central Bank of India raises 3-5 yr FCNR(B) deposit rates by up to 253 bps
--Central Bank of India raises 3-5 year FCNR(B) deposit rates to 6.00%
MUMBAI – Central Bank of India raised its interest rates on foreign currency non-resident dollar-denominated bank deposits for tenures ranging from three to five years by up to 253 basis points to 6% effective Wednesday, according to an update on the bank's website. The bank has reduced the one-year to less than two-year FCNR(B) deposit rate by 10 bps to 5%.
The Reserve Bank of India's dollar-rupee swap facility for fresh deposits 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. As per a median of estimates from 16 market participants polled by Informist, this swap facility is expected to attract inflows of about $43 billion.
The bank revised interest rates on FCNR(B) deposits range from 5% to 6% across tenures. Central Bank of India reported a consolidated net profit of INR 7.24 billion for the March quarter on a total income of INR 108.10 billion. Wednesday, shares of the lender ended at INR 30.76 on the National Stock Exchange, down 1% from Tuesday.
Central Bank of India's FCNR(B) deposit rates for various tenures are as follows:
| Tenure | Revised rate (%) | Previous Rate (%) |
| One- up to two year | 5 | 5.10 |
| Two- up to three year | 4 | 3.97 |
| Three- up to four year | 6 | 3.62 |
| Four- up to five year | 6 | 3.47 |
| Five year | 6 | 3.47 |
End
Reported by J. Navya Sruthi
Edited by Avishek Dutta
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