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Back to Top of Index Question-41: Are the interest rates on FCNR deposits liable for periodical revision ?

April 26, 2017deposits FCNR index interest rates liable periodical revision

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Back to Top of Index Question-41: Are the interest rates on FCNR deposits liable for periodical revision ?

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Yes. The rates are based on the rates prevailing in international markets for the currencies concerned for deposits of comparable maturi- ties and are, therefore, liable for change. But deposits will continue to earn the contracted rates till maturity. Interest rates on FCNR deposits are fixed by Reserve Bank from to time.