The Bank of Baroda FCNR rates allows Non-Resident Indians (NRIs) to hold fixed deposits in foreign currency. As per my knowledge, it offers protection against exchange rate fluctuations. This deposit can be maintained in major currencies like USD, GBP, EUR, AUD, CAD, and JPY, offering flexibility to the account holders. Generally, in BOB the FCNR rates start at 1.50. Read on to get the latest rate.
What are Bank of Baroda FCNR Interest Rates 2024?
Bank of Baroda provides competitive interest rates on FCNR deposits, which vary depending on the currency and tenure of the deposit. Typically, the interest rates for USD deposits range from 1.50% to 5.8% per annum, depending on the deposit period. Rates for GBP and EUR deposits tend to be slightly lower, often ranging between 1.5% to 2.5%, while AUD and CAD deposits offer rates around 3% to 4.5%.
These rates are updated periodically based on market conditions and regulatory changes.
| Maturity Period | LESS THAN USD 2 LACS | 2 LACS TO 10 LACS | ABOVE USD 10 LACS | GBP | EUR | AUD | CAD |
1 Year |
5.50 |
5.80 |
5.80 |
5.00 |
- |
- |
- |
Above 1 Yr. to less than 2 yrs. |
5.50 |
5.50 |
5.50 |
4.75 |
1.50 |
3.60 |
4.50 |
2 Yrs. to less than 3 yrs. |
3.95 |
3.95 |
3.95 |
2.35 |
1.50 |
3.50 |
4.10 |
3 Yrs. to less than 4 yrs. |
3.80 |
3.80 |
3.80 |
2.45 |
1.50 |
3.00 |
3.85 |
4 Yrs. to less than 5 yrs. |
3.85 |
3.85 |
3.85 |
2.45 |
1.50 |
3.00 |
3.90 |
5 Years |
3.90 |
3.90 |
3.90 |
2.45 |
1.50 |
3.00 |
3.95 |
FCNR accounts can be opened for a minimum tenure of one year and up to a maximum of five years. The interest earned on these deposits is tax-free in India, and the principal, along with interest, is fully repatriable, providing significant financial convenience to NRIs.
Additionally, the deposits are risk-free as they are insured and backed by the Indian banking system.I hope you get an idea of Bank of Baroda FCNR Deposit Rates.
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What is Bank of Baroda FCNR Rates?
sia
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53 days
2024-09-22T09:02:36+00:00 2024-09-22T09:02:37+00:00Comment
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