Interest rates on FCNR account
Friday, May 5, 2017, 11:22 AM
The interest rates vary between terms and from currency to currency. Also, different banks offer different rates. The interest rate for a one-year FCNR deposit in US dollar would be different from the same for deposit in the Australian dollar. Interest rates on FCNR term deposit accounts should be set by the board of directors of particular bank, under the broad mandate of RBI-regulations.