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Informist, Tuesday, Jun. 16, 2026

 

--Bank of Baroda raises 3-5 year FCNR(B) deposit rates by 25-50 bps 
--Bank of Baroda raises 3-5 year FCNR(B) deposit rates to 6.00-6.25% 
--Bank of Baroda raises 3-5 yr FCNR(B) deposit rates for 2nd time in a week 
 

NEW DELHI – Bank of Baroda Tuesday raised interest rates on foreign currency non-resident dollar-denominated bank deposits for the second time in a week by launching the ‘bob Legend FCNR(B) Deposit Scheme,' it said in a press release. On Thursday, the state-owned bank had launched a Special FCNR(B) Deposit scheme, under which the interest rates on FCNR(B) deposits for a three- to five-year tenure were raised to 5.50% to 6.00%.

 

Under the latest scheme, the public sector bank has further increased rates on dollar-denominated FCNR(B) deposits for three- to five-year tenures by 25-50 basis points to 6.00-6.25%. "Further, NRIs (Non-Resident Indians) can benefit from the dual advantages of wealth creation and liquidity by availing of the hassle-free overdraft/loan facility against FCNR(B) deposits, providing enhanced financial flexibility while enabling them to maximise their returns," the bank said. 

 

Several banks have revised FCNR(B) deposit rates after the Reserve Bank of India announced a US dollar-rupee swap facility for fresh FCNR(B) deposits, mobilised for three to five years. The central bank has allowed banks to price these deposits according to their internal policies, but within the overall regulatory ceiling.

 

On Tuesday, Bank of Baroda's shares closed at INR 275.35 on the National Stock Exchange, down 0.3% from the previous close. For the March quarter, the bank reported a net profit of INR 56.16 billion on total income of INR 366.09 billion. 

 

Bank of Baroda's FCNR(B) deposit rates for dollars for various tenures are as follows:

 

Tenure	Previous Rate (%)	Revised Rate (%)
Three- up to four year	5.50	6.00
Four- up to five year	5.75	6.10
Five year	6.00	6.25

 

End

 

Reported by Pratiksha

Edited by Saji George Titus

 

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