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Standard Chartered Bank – FCNR Deposit Rates
Rates last updated by the bank on 10-Jul-26. Visit bank site
Rates last updated by the bank on 10-Jul-26.
₹5l DICGC insuredDICGC insured up to ₹5L
•Ranked #40 of 43 banks for FCNR-USD rates
Maturity | USD | ||
|---|---|---|---|
| Deposit Amount | Under $100K | $100K to $1M | $1M+ |
| 365 days | 3.00% | 4.05% | 4.05% |
| 366 to 375 days | 3.00% | 4.00% | 4.00% |
| 376 to 394 days | 3.00% | 4.00% | 4.00% |
| 395 to 400 days | 3.00% | 4.00% | 4.00% |
| 401 days to <1.5 years | 3.00% | 4.00% | 4.00% |
| 1.5 to <2 years | 3.00% | 4.00% | 4.00% |
| 2 years to <740 days | 3.00% | 4.00% | 4.00% |
| 740 days | 3.00% | 4.00% | 4.00% |
| 741 days to <3 years | 3.00% | 4.00% | 4.00% |
| 36 months | 5.30%BEST | 5.30%BEST | 5.50%BEST |
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Bank Overview
Type
ForeignHeadquarters
MumbaiFounded
1858Branches
100DICGC Coverage
₹5 LakhsFrequently Asked Questions
As of August 2026, Standard Chartered Bank offers a highest FCNR interest rate of 5.50% for USD, 0.01% for GBP, 0.01% for EUR, 0.01% for CAD, 0.01% for AUD, and 0.01% for JPY. 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.
Standard Chartered Bank supports FCNR deposits in major global currencies, including US Dollar (USD), British Pound (GBP), Euro (EUR), Canadian Dollar (CAD), Australian Dollar (AUD), and Japanese Yen (JPY).
Yes, Standard Chartered Bank 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 However, under RBI regulations, no interest is paid if the deposit is withdrawn before completing the minimum tenure of 1 year. If withdrawn after 1 year, premature penalty charges may apply as per the bank's policy.