Banking
FCNR(B) FDs: NRIs and OCIs offered up to 7.50% on select tenures by multiple banks
Government backing for FCNR(B) deposits has unlocked higher rates for Non-Resident Indians, Overseas Citizens of India and Persons of Indian Origin. Banks are now advertising elevated returns on 3- to 5-year FD tenures in foreign currencies, led by USD deposits and backed by a guarantee that hedging costs will be borne until September 30, 2026.