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Deposit in major currencies* and get healthy yield with FCNR (B) Fixed Deposit account. Your deposits are protected from exchange rate fluctuations

FCNR Deposits

Deposit in major currencies* and get healthy yield with FCNR (B) Fixed Deposit account. Your deposits are protected from exchange rate fluctuations

Assured returns on your foreign currency deposits with FCNR Deposit

Deposit in 6 major foreign currencies with SC’s FCNR (B) Fixed Deposit account. Your deposits are shielded from foreign exchange fluctuations as you get assured returns that are tax-free and freely repatriable.

FAQs

  • FCNR(B) deposit is a fixed deposit which is maintained in foreign currency hence protects your investment from any exchange rate fluctuation. Interest earned on your FCNR(B) deposit will be in same respective foreign currency and will be tax free in India.

  • The expansion of FCNR(B) is Foreign Currency Non-Resident (Bank) Deposit.

  • An FCNR(B) Deposit can be opened with the assistance of your Relationship manager else please walk into any of our branches in India to have a seamless experience. The deposit can be funded by way of a fresh Inward Remittance from abroad / Transfer from an existing NRE A/C or existing funds available in his/her NRE A/C. (In case funds are currently in INR, it will be converted to the currency which the FCNR(B) is intended to be booked.

  • An FCNR(B) Deposit can be booked by any Standard Chartered NRI Customer who a/c is operative.

  • Interest earned on FCNR(B) Deposit are completely tax free in India.