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  #2  
10th August 2015, 09:36 AM
Super Moderator
 
Join Date: May 2012
Re: FCNR State Bank of India

As you want to get the details of Foreign Currency Non Resident (Bank) [FCNR (B)] Account of State Bank of India so here is the information of the same for you:

Eligibility Criteria:





Permissible Credits:

Transfer from another NRE / FCNR (B) account
Transfer from another NRO account (subject to limit)
Fresh remittance from overseas through banking channel
Personal cheques drawn on foreign account
Proceeds of Foreign Currency Notes / Travelers cheques tendered by NRI / PIO / OCI, while visiting India. Amounts in excess of USD 5000 (or equivalent) in currency or USD 10,000/- (or equivalent) in Travelers cheques should be accompanied by a Currency Declaration Form

Types of FCNR (B) Account:

Term Deposits (TDR)
Special Term Deposits (STDR)

Tenure of Deposits (TDR / STDR):

Minimum period of 1 year
Maximum period of 5 years

Interest Rates:

FOREIGNCURRENCY
NON-RESIDENT DEPOSITS (FCNR(B)) (% P.A.)
w.e.f. 01st July 2015
CURRENCY USD GBP EURO CAD AUD JPY
PERIOD OF THE DEPOSIT RATE YIELD* RATE YIELD* RATE YIELD* RATE YIELD* RATE YIELD* RATE YIELD*
1 year to less than 2 years 1.26 1.29 1.49 1.53 0.83 0.85 1.85 1.9 2.88 2.99 0.9 0.92
2 years to less than 3 years 1.9 1.97 2.13 2.22 1.12 1.15 2.01 2.09 3.22 3.4 1.16 1.19
3 years to less than 4 years 2.26 2.39 2.39 2.53 1.24 1.29 2.13 2.24 3.35 3.61 1.19 1.23
4 years to less than 5 years 2.54 2.73 2.58 2.78 1.37 1.43 2.27 2.42 3.62 3.99 1.24 1.29
5 years 2.78 3 2.72 2.94 1.52 1.6 2.44 2.62 3.79 4.19 1.3 1.36
* Annualised yield at the end of the period.
Premature withdrawals of FCNR (B) Deposits:
No interest is payable, if the deposit is withdrawn before one year.
If the deposit is withdrawn after completion of one year, the interest paid shall be 1.00 % below the rate applicable for the period deposit has remained with the Bank or 1.00 % below the contracted rate, whichever is lower.
Premature Withdrawals:

No interest is payable, if the deposit is withdrawn before one year
If the deposit is withdrawn after completion of one year, the interest paid shall be 1.00% below the rate applicable for the period deposit has remained with the Bank or 1.00% below the contracted rate, whichever is lower

FCNR (B) account opening form:













Contact Details:
State Bank of India
Sansad Marg
Police Colony,
Connaught Place
New Delhi,
Delhi 110001
India

Map Location:
[MAP]State Bank of India Police Colony Connaught Place New Delhi[/MAP]

Last edited by Shaleen; 10th August 2015 at 09:39 AM.
  #3  
30th December 2015, 03:47 PM
Unregistered
Guest
 
Re: FCNR State Bank of India

Hello buddy , I want to know information about Interest Rate of Foreign Currency Non-Resident Deposits of State Bank of India ?
  #4  
30th December 2015, 03:47 PM
Super Moderator
 
Join Date: Apr 2013
Re: FCNR State Bank of India

Deposit is denominated in foreign currency and can be opened in USD, GBP, EURO, CAD, JPY, or AUD

Deposit can be opened either individually or jointly with other NRIs / PIOs / OCIs

Both principal and interest are payable in foreign currency. Hence, there is no exchange loss on principal and interest
Account types permissible:
Term Deposit
Special Term Deposit

Interest Rate
:

State Bank of India

1st Year
1.45% 2.00%

2nd Year
2.26%

3rd Year
2.45%

4th Year
2.59%


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