The State Bank of India offers competitive FCNR (Foreign Currency Non-Resident) deposit rates for Non-Resident Indians (NRIs) looking to maintain their savings in foreign currency. Generally, the FCNR SBI rates vary from 0.05 to 6.04.
What are the State Bank of India FCNR Rates?
For USD, the rates are 5.70% up to 2 years, 4.55% for 2 to 3 years, 4.33% for 3 to 4 years, 3.85% for 4 to 5 years and 3.90% over 5 years.
For GBP, the rates are 5.10% up to 2 years, 5% for 2 to 3 years, 4% for 3 to 4 years, 4% for 4 to 5 years and 3.90% over 5 years.
For Euro, the rates are 4% up to 2 years and more than 2 years, it is 1.5%.
For CAD, the rate ranges from 3.65% to 4.26%.
For AUD, the SBI FCNR interest rates range from 4.10% to 4.72%.
The SBI FCNR deposits are advantageous because they are not subject to Indian currency fluctuations, and the interest earned is tax-free in India. Additionally, the principal and interest amounts are fully repatriable, offering NRIs flexibility in managing their international funds.
This is all about SBI FCNR interest rates.
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What is State Bank of India FCNR Rates?
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2024-09-30T20:47:25+00:00 2024-10-01T15:47:43+00:00Comment
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