CSB Bank hikes 3-5 year FCNR(B) deposit rates by up to 305 bps
This story was originally published at 15:34 IST on 11 June 2026
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--CSB Bank raises 3-5 year FCNR(B) deposit rates by up to 305 bps
--CSB Bank raises 3-5 year FCNR(B) deposit rates to 6.95-7.05%
MUMBAI – CSB Bank Ltd. raised its interest rates on foreign currency non-resident dollar-denominated bank deposits for three to five-year tenures by up to 305 basis points to 6.95-7.05%, effective Wednesday, the lender said in a press release Thursday.
Multiple banks have revised FCNR(B) deposit rates after the Reserve Bank of India Friday announced a US dollar-rupee swap facility for fresh FCNR(B) deposits, mobilised for a minimum tenor of three years and maximum tenor of five years. The central bank has allowed banks to price these deposits as per their internal policy, but within the overall regulatory ceiling.
At 1505 IST, shares of CSB Bank were at INR 353.30 apiece on the National Stock Exchange, down over 2%. For the March quarter, the bank had reported a net profit of INR 2.02 billion and total income of INR 15.07 billion.
CSB Bank's FCNR(B) deposit rates for various tenures are as follows:
| Tenure | Revised rate (%) | Previous rate (%) |
| Three-less than four year | 6.95 | 4.05 |
| Four-less than five year | 7.00 | 4.00 |
| Five year | 7.05 | 4.00 |
End
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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