Business EconomyPosted at: Jun 17 2026 12:33PM


Federal Bank launches special FCNR deposits with 6.25 pc interest

Kochi, June 17 (UNI) Federal Bank has introduced a special Foreign Currency Non-Resident (FCNR) deposit in US Dollars, branded as the 'FCNR Max Deposit Scheme', offering an interest rate of 6.25 per cent per annum for tenures ranging from three to five years.
The bank said the new scheme has been launched to meet the growing demand among Non-Resident Indian (NRI) customers for high-yield and secure foreign currency investment options, while providing stable and competitive returns.
Joy P. V. said the bank remains committed to offering customer-centric financial solutions for its NRI clientele and that the FCNR Max Deposit Scheme reflects Federal Bank's focus on delivering both value and reliability in foreign currency investments.
The scheme carries a lock-in period of one year from the date of opening. In case of premature closure after the lock-in period, interest will be paid at a rate one percentage point lower than
the applicable rate for the actual period the deposit remained with the bank.
UNI DS BM
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