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The Economic Times
The Economic Times
Sneha Kulkarni

FCNR (B) FD premature withdrawal rules: Check penalty and interest rate rules of HDFC Bank, SBI, ICICI Bank, Axis Bank, Kotak Mahindra Bank

B’ FCNR HDFC Bank Axis Bank ICICI Bank Kotak Mahindra Bank SBI India

Foreign Currency Non-Resident (Bank) deposits, or FCNR (B) deposits, is a popular investment option among Non-resident Indians (NRIs) who want to keep their foreign earnings in a foreign currency in India while earning stable returns. FCNR (B) has been under the spotlight ever since the government said that it would bear the hedging costs on 3 to 5-year deposits till September 30, 2026. However, if an investor withdraws their deposit prematurely, there may be penalties.

Premature withdrawal of FCNR (B) deposits

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