IDBI Bank Introduces FCNR(B) Special Opportunity Deposit in USD with Attractive Returns for NRIs on Foreign Currency Deposits
BusinessWire India
Mumbai (Maharashtra) [India], June 19: IDBI Bank has introduced FCNR(B) Special Opportunity Deposit in USD, offering enhanced returns to Non-Resident Indian (NRI) customers seeking secure and attractive foreign currency investment opportunities.
The Special Rates will be for limited period effective June 11, 2026 till September 30, 2026.
Key Features
- Principal and interest are fully repatriable.
- Protection against exchange rate fluctuations, as deposits are maintained in USD only.
- Interest earned is exempt from income tax in India, subject to prevailing regulations.
- Minimum lock-in period of 1 year.
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