The Economic Times

SBI revises FCNR(B) interest rates up to 5.75%: NRIs, OCIs & POIs can earn more on these deposits

FCNR(B) interest rates: The Reserve Bank of India's announcement to bear hedging costs for FCNR(B) deposits has prompted SBI to revise its interest rates. NRIs can now earn up to 6% per annum on US dollar-denominated FCNR(B) deposits, with rates varying by amount and tenure.