Canara Bank raises 3-year to 5-year FCNR(B) deposit rates to 6.50%
This story was originally published at 10:22 IST on 12 June 2026
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MUMBAI – Canara Bank raised its interest rates on foreign currency non-resident dollar-denominated bank deposits for tenures three years and above but less than four years by up to 280 basis points to 6.50%, according to an update on the bank's website. 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 bank has also raised interest rates on FCNR(B) deposits by 100 bps to 6.50% for four-year but less than five-year and for five-year tenures. The scheme will be open till Sept. 30.
For the March quarter, Canara Bank reported net profit of INR 45.06 billion on total income of INR 366.62 billion. At 0947 IST, shares of the lender were at INR 129.93 on the National Stock Exchange, up over 2%.
Canara Bank's FCNR(B) deposit rates for various tenures are as follows:
| Tenure | Revised rate (%) | Previous Rate (%) |
| Three- up to four year | 6.50 | 3.70 |
| Four- up to five year | 6.50 | 3.50 |
| Five year | 6.50 | 3.50 |
End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Shumaila Firoz
Edited by Akul Nishant Akhoury
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