State Bank of India launches SBI Advantage FCNR(B) Deposit scheme
This story was originally published at 18:44 IST on 10 June 2026
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--State Bk of India ups 3- to under-4-yr FCNR(B) rate by upto 215 bps
--State Bk of India ups 4- to under-5-yr FCNR(B) rate by upto 280 bps
--State Bk of India ups 5-yr FCNR(B) deposit rate by upto 295 bps
--State Bank of India raises 3-5 year FCNR(B) deposit rates to 5.25-6.00%
MUMBAI – State Bank of India has launched SBI Advantage FCNR(B) Deposit scheme after the Reserve Bank of India's dollar-rupee swap facility for fresh deposits, according to the bank's website. The lender's foreign currency non-resident dollar-denominated bank deposits of up to $1 million for three year to four year tenures are at 5.25-5.75%.
Under the scheme, the lender's FCNR(B) deposits of above $1 million for three-year to four-year tenures are at 5.50-6.00%. The RBI has announced a concessional dollar-rupee swap facility for fresh deposits on a minimum tenure of three years and a maximum tenure of five years till Sept. 30.
SBI reported a net profit of INR 196.84 billion and total income of INR 1.4 trillion for the March quarter. On Wednesday, its shares ended 0.1% higher at INR 1,003.25 apiece on the National Stock Exchange. End
US$1 = INR 95.27
Reported by Nandini Sinha
Edited by Avishek Dutta
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