Equitas SFB hikes USD FCNR (B) deposit rate to 7.13% p.a

Equitas Small Finance Bank Limited has increased the interest rates on its FCNR (B) deposits.

Non‑Resident Indians (NRIs) can now obtain an annual return of 7.13 percent on US‑dollar FCNR (B) deposits held for periods between three and five years. This rate hike comes after the Reserve Bank of India introduced a special FCNR (B) swap facility designed to boost NRI inflows into the country.

For NRIs seeking to safeguard and enhance their overseas earnings despite global interest‑rate swings, the Equitas FCNR (B) Deposit presents an attractive way to make the most of their US dollars. “By keeping funds in foreign currency, NRIs enjoy competitive yields, tax‑free interest income in India, and full repatriation of principal and interest upon maturity (subject to prevailing rules), while being shielded from exchange‑rate movements,” the bank stated.

The deposit carries a one‑year lock‑in, and early withdrawals are allowed only after that period, in line with the bank’s policy.

“Today’s NRIs are looking for options that protect the value of their foreign earnings, mitigate currency volatility, and deliver assured returns—a combination that works best. Hedging has traditionally added cost in this segment, and the RBI’s recent FCNR (B) regulation is a timely move that strengthens the appeal of these deposits,” said Murali Vaidyanathan, Country Head – Liabilities, Equitas Small Finance Bank Limited.

Published on June 18, 2026