FCNR (B) Interest Rates

TMB has been very popular since long for being the bank offering the highest rates of interest for NRI accounts for the benefit of its depositors. No wonder a major part of our deposits are from NRI citizens abroad. The rates are split for different types of NRI Account to offer the highest rate of interest possible.

Currency 1y - <2y 2y -<3y 3y - <4y 4y - <5y 5y
USD 1.22 1.26 1.39 1.80 2.02
GBP 1.10 1.25 1.33 1.65 1.76
EUR 0.51 0.53 0.53 0.79 0.86
CAD 1.12 1.18 1.42 1.68 1.90
AUD 0.65 0.72 0.87 1.15 1.42
JPY 0.47 0.48 0.50 0.52 0.54
CHF 0.00 0.00 0.00 0.00 0.00
  • The above revised interest rate structure is effective from 01.03.2021 to 31.03.2021.


  • Interest for FCNR (B) / FCNR Plus / RFC deposits is compounded at half yearly rests.
  • Penalty for premature closure for FCNR (B) / FCNR Plus and RFC deposits has been introduced with effect from 01.09.2016. Please refer to Circular No. HO.DGM.IBD.INS.59.Cir.1022/2016-17 dated August 31, 2016.
  • As per the Reserve Bank of India‚Äôs guidelines in respect of FCNR(B) Deposit.

No bank should:

  1. accept or renew a deposit over a period of five years.
  2. discriminate in the matter of rate of interest paid on the deposits, between one deposit and another accepted on the same date and for the same maturity, whether such deposits are accepted at the same office or at different offices of the bank, except on the size group basis. The permission to offer varying rates of interest based on size of the deposits will be subject to the following conditions:
    1. Banks should, at their discretion, decide the currency-wise minimum quantum on which differential rates of interest may be offered. For term deposits below the prescribed quantum with the same maturity, the same rate should apply.
    2. The differential rates of interest so offered should be subject to the overall ceiling prescribed.
    3. Interest rates paid by the bank should be as per the schedule and not subject to negotiation between the depositor and the bank.
  3. pay brokerage, commission or incentives on deposits mobilized under FCNR (B) Scheme in any form to any individual, firm, company, association, institution or any other person.
  4. employ / engage any individual, firm, company, association, institution or any other person for collection of deposit or for selling any other deposit linked products on payment of remuneration or fees or commission in any form or manner.
  5. accept interest-free deposit or pay compensation indirectly.