Yes Bank hikes FX deposit rates to attract non-resident inflows

Yes Bank Ltd. has lifted the rates on foreign‑currency non‑resident deposits by up to 335 basis points, positioning itself among the first Indian banks to launch a scheme designed to pull in capital inflows and support the weakened rupee.

The private‑sector bank will pay 7 % on three‑year FCNR(B) deposits, 7.05 % on four‑year deposits and 7.10 % on five‑year deposits, according to a bank spokesperson. Earlier, the bank’s rates on comparable deposits topped out at 4 %.

The new rates represent a significant jump from previous levels and follow the central bank’s recent regulatory relaxations, announced just days ago, to motivate banks to gather more foreign‑currency deposits from June through September.

The regulator also rolled out a dollar‑rupee swap facility for banks that raise such deposits, lowering the expense of sourcing overseas funds.

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Published on June 10, 2026