FCNR (B) FD interest rates up to 6.50%: SBI, HDFC Bank, PNB and others- which bank offers highest rate?

FCNR(B) fixed deposits continue to attract non-resident Indians looking for a way to keep money in foreign currency while earning a fixed return with Indian banks. A fresh comparison of rates shows renewed interest in this segment as several banks offer higher returns for longer deposit periods.

The latest update indicates that Punjab National Bank is currently offering the highest FCNR(B) fixed deposit interest rate among the banks mentioned, at 6.50%. That puts PNB ahead of peers such as SBI, HDFC Bank and others in the comparison highlighted for NRIs.

The rise in FCNR(B) FD interest rates is especially notable for tenures between three and five years. That maturity range is often important for depositors who want to lock in returns for a medium-term period without moving out of foreign currency holdings.

For NRIs comparing banks, the key takeaway is that FCNR(B) deposit rates are seeing an uptick, and the gap between lenders can make a difference in final returns. Based on the latest snapshot, PNB appears to be leading the pack, while SBI, HDFC Bank and other lenders remain part of the broader rate comparison in this popular NRI investment category.