IndusInd Bk to up 3- to 5-year FCNR(B) deposit rates to 6.60-6.75% from Mon
This story was originally published at 19:06 IST on 12 June 2026
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--IndusInd Bank to up 3-5 yr FCNR(B) deposit rates by up to 315 bps from Mon
--IndusInd Bank to raise 3-5 yr FCNR(B) deposit rates to 6.60-6.75% from Mon
NEW DELHI – IndusInd Bank Friday raised interest rates on dollar-denominated foreign currency non-resident bank deposits by 290-315 basis points to 6.60-6.75% for three- to five-year tenors. At the same time, it cut the rates offered for sub-two-year deposits across sizes. According to the bank's website, the changes will be effective Monday.
Several banks have revised FCNR(B) deposit rates since Tuesday, after the Reserve Bank of India last week announced a US dollar-rupee swap facility for fresh FCNR(B) deposits, mobilised for a minimum tenor of three years and a maximum of five years. The central bank has allowed banks to price these deposits according to their internal policies, but within the overall regulatory ceiling. Regulations suggest 7.13% is the highest rate banks can offer on dollar-denominated deposits, based on the Secured Overnight Financing Rate.
Friday, the bank's shares closed 3.2% higher at INR 917.35 on the National Stock Exchange. For the March quarter, IndusInd Bank reported a net profit of INR 5.33 billion against a loss in the year-ago period, with total income rising 12% on year to INR 127.12 billion.
IndusInd Bank's FCNR(B) deposit rates for dollars for various tenures are as follows:
| Tenure | Revised rate (%) | Previous rate (%) | ||||||
| Less than $1 mln | Between $1 mln -$10 mln | Between $10 mln-$25 mln | $25 mln and above | Less than $1 mln | Between $1 mln -$10 mln | Between $10 mln-$25 mln | $25 mln and above | |
| One year to less than two years | 3.90 | 3.90 | 3.90 | 3.90 | 4.50 | 4.60 | 4.60 | 4.60 |
| Two years to less than three years | 3.90 | 3.90 | 3.90 | 3.90 | 3.90 | 3.90 | 3.90 | 3.90 |
| Three years to less than four years | 6.60 | 6.60 | 6.60 | 6.60 | 3.70 | 3.70 | 3.70 | 3.70 |
| Four years to less than five years | 6.65 | 6.65 | 6.65 | 6.65 | 3.60 | 3.60 | 3.60 | 3.60 |
| Five years | 6.75 | 6.75 | 6.75 | 6.75 | 3.60 | 3.60 | 3.60 | 3.60 |
End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Aaryan Khanna
Edited by Deepshikha Bhardwaj
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