ESAF Small Finance – FCNR Rates
This bank last updated its deposit rates on 30-Jun-26.
Maturity Period | USD | ||
|---|---|---|---|
Under $500K | $500K to $1M | $1M+ | |
| 12 Months | 5.00% | 5.10% | 5.10% |
| 12 Months | 5.10% | 5.20% | 5.20% |
| 12 Months to 24 Months | 5.00% | 5.10% | 5.10% |
| 24 Months to 36 Months | 4.00% | 4.10% | 4.10% |
| 36 Months to 48 Months | 7.13% | 7.13% | 7.13% |
| 48 Months to 60 Months | 7.13% | 7.13% | 7.13% |
| 60 Months | 7.50% | 7.50% | 7.75% |
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Frequently Asked Questions
As of July 2026, ESAF Small Finance offers a highest FCNR interest rate of 7.75% for USD. 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.
ESAF Small Finance supports FCNR deposits in major global currencies, including US Dollar (USD).
Yes, ESAF Small Finance 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 However, under RBI regulations, no interest is paid if the deposit is withdrawn before completing the minimum tenure of 1 year. If withdrawn after 1 year, premature penalty charges may apply as per the bank's policy.