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Bank of Maharashtra – FCNR Deposit Rates
Rates last updated by the bank on 26-Jun-26. Visit bank site
Rates last updated by the bank on 26-Jun-26.
₹5l DICGC insuredDICGC insured up to ₹5L
•Ranked #21 of 43 banks for FCNR-USD rates
Maturity | USD |
|---|---|
| 1 to <2 years | 5.00% |
| 2 to <3 years | 3.50% |
| 3 to <4 years | 6.15% |
| 4 to <5 years | 6.25% |
| 5 years | 6.60%BEST |
Compare FCNR rates
Bank Overview
Type
PublicHeadquarters
PuneFounded
1935Branches
2785DICGC Coverage
₹5 LakhsFinancial Health Indicators(FY 2026)
NNPA
0.13%Strong
CAR
18.36%Strong
PCR
91.43%Strong
LCR
118.49%Fair
CASA
52.51%Strong
Frequently Asked Questions
As of August 2026, Bank of Maharashtra offers a highest FCNR interest rate of 6.60% for USD, 3.65% for GBP, 1.50% for EUR, 2.39% for CAD, and 2.00% for AUD. These rates vary based on the maturity period.
No, interest earned on FCNR (Foreign Currency Non-Resident) deposits is completely exempt from income tax in India for NRIs (Non-Resident Indians). There is also no TDS deducted on FCNR interest in India.
Bank of Maharashtra supports FCNR deposits in major global currencies, including US Dollar (USD), British Pound (GBP), Euro (EUR), Canadian Dollar (CAD), and Australian Dollar (AUD).
Yes, Bank of Maharashtra is a scheduled commercial bank regulated by the Reserve Bank of India (RBI). It follows strict banking guidelines, making it a reliable and safe institution for NRI deposits.
Yes, premature withdrawal of FCNR deposits is allowed. However, under RBI regulations, no interest is paid if the deposit is withdrawn before completing the minimum tenure of 1 year. If withdrawn after 1 year, premature penalty charges may apply as per the bank's policy.