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Are the interest rates on FCNR deposits liable for periodic revision?

April 26, 2017deposits FCNR interest rates liable periodic revision

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Are the interest rates on FCNR deposits liable for periodic revision?

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The rates are based on the rates prevailing in international markets for the currencies concerned for deposits of comparable maturities and are, therefore, liable for change. But deposits will continue to earn the contracted rates till maturity. Interest rate on FCNR deposits are fixed by the bank from time to time which are very competitive.