IndiaBanks.org · independent research

Fixed & recurring deposits

(B) Account

A 1–5 year foreign-currency / in six currencies, with exact amount-tiered / rates and full current rates for , , and .

Current FCNR(B) deposit interest ratesEffective 8 October 2026: USD 2.95%–5.00% p.a. by amount band and tenor; GBP 2.80%–4.00% where the schedule publishes a value; CAD 2.58%–3.08%; AUD 3.85%–4.25%; EUR 1.50%–3.00%; JPY 0.55%–0.65%. See the full amount/tenor tables.Available tenorsMinimum 1 year; maximum 5 yearsMinimum FCNR(B) depositUSD 1,000; GBP 1,000; EUR 1,000; CAD 1,000; AUD 1,000; JPY 100,000. The same minimums apply to TDR and STDR.
Official product page ↗Compare category

Quick eligibility check

(B) Account

0 of 5 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Do you meet this requirement: FCNR(B) is permitted for NRIs, PIOs and OCIs?

Published source: Eligibility

2Do you meet this requirement: not for foreign employees in India, foreign students or short-visit tourists?

Published source: Eligibility

3Do you meet this requirement: Pakistani nationals need prior RBI approval?

Published source: Eligibility

4Do you meet this requirement: Bangladeshi nationals need a valid visa and FRO/FRRO residential permit?

Published source: Eligibility

5Do you meet this requirement: An OCI intending to stay in India indefinitely and staying over 182 days must redesignate/convert the account under SBI's stated rules?

Published source: Eligibility
0 of 5 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 8 Oct 2026 · active
Offered byState Bank of India

banking in India, subject to residential-status, funding and requirements

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Deposit typeForeign Currency Non-Resident (Bank) term deposit or special term depositView source
The Features tab lists term deposit and special term deposit as the permissible account types.
Source
(B) Account
Page / section
Features
Accessed
11 Aug 2026
Confidence
high
Open official source ↗
Available currenciesUSD, GBP, EUR, CAD, JPY and AUDView source
states that deposits may be denominated in , , euro, , or .
Source
(B) Account
Page / section
Features
Accessed
11 Aug 2026
Confidence
high
Open official source ↗
Available tenorsMinimum 1 year; maximum 5 yearsView source
The Features tab publishes a minimum period of one year and a maximum period of five years.
Source
(B) Account
Page / section
Features — Tenor of Deposits
Accessed
11 Aug 2026
Confidence
high
Open official source ↗
Current FCNR(B) deposit interest ratesEffective 8 October 2026: USD 2.95%–5.00% p.a. by amount band and tenor; GBP 2.80%–4.00% where the schedule publishes a value; CAD 2.58%–3.08%; AUD 3.85%–4.25%; EUR 1.50%–3.00%; JPY 0.55%–0.65%. See the full amount/tenor tables.Effective 8 Oct 2026View source
The official page lists five maturity columns. and have balance bands; for balance bands at GBP 300,000 and above, only the first maturity column is populated in the source. Blank source cells remain blank in the preserved table.
Source
Services — Deposit Interest Rate
Page / section
Complete , and other-currency rate tables; effective 8 October 2026
Accessed
8 Oct 2026
Confidence
high
Open official source ↗
Minimum FCNR(B) depositUSD 1,000; GBP 1,000; EUR 1,000; CAD 1,000; AUD 1,000; JPY 100,000. The same minimums apply to TDR and STDR.View source
The official page lists the six exact currency minimums under both and ; the previous generic minimum-deposit value was not a monetary amount and is replaced.
Source
(B) Account — product page
Page / section
Term Deposits () and Special Term Deposits (): minimum deposit
Accessed
8 Oct 2026
Confidence
high
Open official source ↗
Premature withdrawalBefore 1 year: no interest. After 1 year: no premature penalty; SBI's 8 October rate page says interest for the actual holding period uses the rate available when the deposit was opened. The FCNR account page (last updated 5 April 2025) additionally applies the lowest of the contracted rate, original-period rate and current-period rate; SBI's two pages conflict on the calculation.Effective 8 Oct 2026View source
The newer rate page states no interest before one year, no penalty after one year, payment only for the period held and the opening-date rate. The 5 April 2025 account page says the lowest of three rate bases applies. The no-penalty and pre-one-year terms agree; the after-one-year rate formula does not.
Source
Services — Deposit Interest Rate
Page / section
Premature withdrawals; compared with (B) Account page, Premature Withdrawals section and example
Accessed
8 Oct 2026
Confidence
high
Open official source ↗
Interest frequencyTDR: interest is paid every 180 days. STDR: interest compounds every 180 days. Both are fixed-tenor deposits and renew for the same period at the rate then prevailing unless instructions differ.View source
The official page distinguishes 180-day interest payment from interest compounding and states same-period automatic renewal at the rate then prevailing.
Source
(B) Account — product page
Page / section
Term Deposits () and Special Term Deposits ()
Accessed
8 Oct 2026
Confidence
high
Open official source ↗
Account holdersOpen individually or jointly with other NRIs, PIOs or OCIs. A resident relative may be the second holder on a “Former or Survivor” basis, with the NRI/PIO/OCI as the former; eligible relationships are listed in the product table.View source
The page separately allows individual/joint , or holdings and specified resident relatives on the stated former-or-survivor operation basis.
Source
(B) Account — product page
Page / section
Features and benefits; Joint account of Non-Residents with Residents
Accessed
8 Oct 2026
Confidence
high
Open official source ↗
EligibilityFCNR(B) is permitted for NRIs, PIOs and OCIs; not for foreign employees in India, foreign students or short-visit tourists. Pakistani nationals need prior RBI approval; Bangladeshi nationals need a valid visa and FRO/FRRO residential permit. An OCI intending to stay in India indefinitely and staying over 182 days must redesignate/convert the account under SBI's stated rules.View source
The (B) table permits // and marks foreign workers, foreign students and short-visit tourists as not permitted; applicable footnotes add nationality and residence-change conditions.
Source
Eligibility for Account Opening — account matrix
Page / section
(B) column and applicable footnotes 1.1–3
Accessed
8 Oct 2026
Confidence
high
Open official source ↗
Permitted creditsFresh overseas bank remittance; transfer from another NRE or FCNR(B) account; NRO-account transfer subject to the applicable limit; personal cheque drawn on a foreign account; or foreign-currency notes/traveller's cheques tendered by an NRI/PIO/OCI visiting India. Currency Declaration Form is required when cash exceeds USD 5,000 equivalent or traveller's cheques exceed USD 10,000 equivalent.View source
The official page lists the five credit routes and says a Currency Declaration Form accompanies cash above USD 5,000 equivalent or traveller's cheques above USD 10,000 equivalent.
Source
(B) Account — product page
Page / section
Permissible Credits
Accessed
8 Oct 2026
Confidence
high
Open official source ↗
Loan or overdraft against depositSBI permits rupee or foreign-currency borrowing against FCNR(B) TDR/STDR without closing the deposit; apply at the deposit-holding branch as an overdraft or demand loan. For a loan in Indian rupees, the published maximum is 90% of deposit face value plus accrued interest and the rate is linked to SBI's prevailing base rate. The page gives no foreign-currency loan ceiling or rate in this section.View source
The page permits borrowing in or foreign currency, states the 90% maximum and base-rate linkage specifically for an Indian-rupee loan, and does not state a foreign-currency ceiling here.
Source
(B) Account — product page
Page / section
Loans against (B) Account
Accessed
8 Oct 2026
Confidence
high
Open official source ↗
RepatriabilityPrincipal and interest are fully repatriable and payable in the deposit currency.View source
The page states principal and interest are payable in foreign currency and fully repatriable.
Source
(B) Account — product page
Page / section
Features and benefits; / features
Accessed
8 Oct 2026
Confidence
high
Open official source ↗
Tax treatmentSBI states FCNR(B) interest is exempt from Indian income tax while the customer remains eligible as a non-resident; after relocation to India, tax depends on the person's tax status.View source
product page says interest income is exempt from Indian income tax and says post-relocation taxation depends on the person's status.
Source
(B) Account — product page
Page / section
Tax Implications
Accessed
8 Oct 2026
Confidence
high
Open official source ↗
Outward remittance and foreign-exchange chargesOutward remittance from an FCNR(B) account: free of charge, with applicable out-of-pocket expenses. The same schedule separately lists ₹500 per outward SWIFT message (not applicable to P-segment customers) but does not say whether it is charged in addition for FCNR(B) remittances. A 0.10% non-conversion charge is expressly not applicable when using foreign currency already held in an SBI account.Effective 1 Oct 2026View source
The (B)/ outward-remittance row explicitly says free of charge plus applicable out-of-pocket expenses. A distinct row says ₹500 per outward message, with a P-segment exception; the schedule does not specify how these two lines interact for this account.
Source
Schedule of Foreign Exchange Transaction Related Service Charges — Consolidated with Instructions
Page / section
page 8, outward remittance rows and charge; page 9, non-conversion charge
Accessed
8 Oct 2026
Confidence
high
Open official source ↗

Benefits and features

  • Principal and interest are payable in the deposit currency, limiting exchange exposure on those amounts
  • Six published deposit currencies and tenors from one to five years
  • Foreign-currency and rupee loan facilities against the deposit

Eligibility

  • The official eligibility table permits (B) accounts for , and .
  • A close resident relative may be the second holder only on the stated former-or-survivor basis, with the non-resident as first holder.
  • The account is not permitted for the foreign-national categories marked ineligible in reviewed table.

Passing a listed condition does not mean the bank will approve an application.

Related official documents

SBI NRE/NRO/FCNR(B)/RFC Account Opening Application for NRIs/PIOs/OCIsofficial-account-opening-form-pdf · blocked-unreadable-pdf · accessed 8 Oct 2026
↗
SBI FCNR(B) Account — NRI product pageofficial-product-page · current-page-reviewed · accessed 8 Oct 2026
↗
SBI Power of Attorney request format for NRE/NRO/FCNR(B) accountsofficial-power-of-attorney-form-pdf · complete-text-review-visual-pending · accessed 8 Oct 2026
↗
SBI NRI 5.1 — FCNR(B) deposit creation request formofficial-service-request-form-pdf · complete-text-review-visual-pending · accessed 8 Oct 2026
↗
SBI FCNR(B) Deposit Interest Rateofficial-rate-table · current · accessed 11 Aug 2026
↗
SBI NRI 6 — deposit closure request formofficial-service-request-form-pdf · complete-text-review-visual-pending · accessed 8 Oct 2026
↗
SBI NRI Services — FCNR Deposit Interest Rateofficial-interest-rate-page · current · accessed 8 Oct 2026
↗
SBI Schedule of Foreign Exchange Transaction Related Service Charges — Consolidated with Instructionsofficial-service-charge-pdf · complete-text-review-visual-pending · accessed 8 Oct 2026
↗
SBI Eligibility for Account Opening — NRI account matrixofficial-eligibility-page · relevant-matrix-and-footnotes-reviewed · accessed 8 Oct 2026
↗
SBI NRI Accounts — official catalogue indexofficial-product-catalogue · current-catalogue-listing-reviewed · accessed 8 Oct 2026
↗
SBI NRI Download Forms — official forms catalogueofficial-forms-index · relevant-form-listings-reviewed · accessed 8 Oct 2026
↗
SBI NRI Service Charges — superseded 2018 referenceofficial-service-charge-pdf-historical · stale-not-used-for-current-charges · accessed 8 Oct 2026
↗
SBI NRI 21 — declaration for returning NRI continuing FCNR/RFC depositsofficial-self-declaration-form-pdf · complete-text-review-visual-pending · accessed 8 Oct 2026
↗
SBI Revised Service Charges — official link indexofficial-service-charge-index · current-linked-document-index-reviewed · accessed 8 Oct 2026
↗

Plan before applying

Try the numbers

Private, instant and based on the values you enter.

Try your numbers

Deposit maturity estimate

See how much the deposit may be worth at the end. You can change the bank's published rate to test another case.

Money at maturity₹1,15,831one lakh fifteen thousand eight hundred thirty-one rupees
Money you put in₹1,00,000one lakh rupees
Interest earned₹15,831fifteen thousand eight hundred thirty-one rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

Use the published table

Find the exact published value

Choose a table, then pick its row and column. This shows the exact entry published by the bank or insurer without making you scan every cell.

Less than 375,000 · 1 year to <2 years4.40%

This value is copied from (B) deposit rates by balance and tenor. Check the table notes before relying on it.

Source: Services — Deposit Interest Rate · FOREIGN CURRENCY NON-RESIDENT (BANKS) A/Cs — amount table Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 6 rows · 6 columnsSBI FCNR(B) USD deposit rates by balance and tenorCurrent SBI USD FCNR(B) interest rates; the amount bands apply to the USD table, not the other-currency rows.View tableHide table

Scroll sideways to view every column

SBI FCNR(B) USD deposit rates by balance and tenor
deposit amount1 year to <2 years2 years to <3 years3 years to <4 years4 years to <5 years5 years only
Less than USD 375,0004.40%3.55%3.35%2.95%3.05%
USD 375,000 to less than USD 1 million4.40%3.55%3.35%2.95%3.05%
USD 1 million to less than USD 2.5 million4.60%3.55%3.35%2.95%3.05%
USD 2.5 million to less than USD 5 million4.80%3.55%3.35%2.95%3.05%
USD 5 million to less than USD 10 million4.40%3.55%3.35%2.95%3.05%
USD 10 million and above5.00%3.55%3.35%2.95%3.05%
  • Effective 8 October 2026. Rates are copied from the official amount-band table; no annualised yield is added.
  • The source contains five tenor columns; a separate one-year rate is not split from the 1-to-under-2-year band.
Services — Deposit Interest Rate · FOREIGN CURRENCY NON-RESIDENT (BANKS) A/Cs — amount table · effective 8 Oct 2026 · accessed 8 Oct 2026Open official source ↗
Table 2 · 6 rows · 6 columnsSBI FCNR(B) GBP deposit rates by balance and tenorOnly cells displayed by SBI are populated. Empty cells in the official live page remain blank; no tenor rate is carried across amount bands.View tableHide table

Scroll sideways to view every column

SBI FCNR(B) GBP deposit rates by balance and tenor
deposit amount1 year to <2 years2 years to <3 years3 years to <4 years4 years to <5 years5 years only
Less than GBP 300,0004.00%3.95%3.00%2.90%2.80%
GBP 300,000 to less than GBP 750,0004.00%
GBP 750,000 to less than GBP 1.85 million4.00%
GBP 1.85 million to less than GBP 3.70 million4.00%
GBP 3.70 million to less than GBP 7.50 million4.00%
GBP 7.50 million and above4.00%
  • Effective 8 October 2026. displays only the 1-to-under-2-year cell for the five bands at GBP 300,000 and above; the other cells are blank in the official table.
Services — Deposit Interest Rate · FOREIGN CURRENCY NON-RESIDENT (BANKS) A/Cs — amount table · effective 8 Oct 2026 · accessed 8 Oct 2026Open official source ↗
Table 3 · 4 rows · 6 columnsSBI FCNR(B) CAD, AUD, EUR and JPY rates by tenorThe official other-currency table has no amount bands; one rate per currency and tenor is shown.View tableHide table

Scroll sideways to view every column

SBI FCNR(B) CAD, AUD, EUR and JPY rates by tenor
Deposit currency1 year to <2 years2 years to <3 years3 years to <4 years4 years to <5 years5 years only
3.08%2.83%2.58%2.63%2.68%
4.25%4.15%4.05%3.95%3.85%
3.00%1.50%1.50%1.50%1.50%
0.65%0.65%0.65%0.55%0.55%
  • Effective 8 October 2026. These four rows are the complete ‘other currencies’ table; and are published separately with amount bands.
Services — Deposit Interest Rate · FOREIGN CURRENCY NON-RESIDENT (BANKS) A/Cs — OTHER CURRENCIES table · effective 8 Oct 2026 · accessed 8 Oct 2026Open official source ↗
Table 4 · 13 rows · 2 columnsSBI FCNR(B) Account — deposit, credit, withdrawal and loan termsView tableHide table

Scroll sideways to view every column

SBI FCNR(B) Account — deposit, credit, withdrawal and loan terms
TopicPublished terms
Deposit types and tenor or ; minimum 1 year and maximum 5 years.
Available currencies, , , , and ; principal and interest are payable in the deposit currency.
Minimum depositUSD 1,000; GBP 1,000; EUR 1,000; CAD 1,000; AUD 1,000; JPY 100,000. Same amounts for and .
interest and maturityInterest paid every 180 days; nomination available; premature withdrawal permitted; automatic renewal for same period at then-prevailing rate.
interest and maturityInterest compounds every 180 days; nomination available; premature withdrawal permitted; automatic renewal for same period at then-prevailing rate.
Permitted creditsFresh overseas bank remittance; transfer from another /(B); transfer subject to applicable limit; foreign-account personal cheque; qualifying foreign-currency notes or traveller's cheques tendered by a visiting //.
Currency declarationCurrency Declaration Form for cash exceeding USD 5,000 equivalent or traveller's cheques exceeding USD 10,000 equivalent.
Loan / overdraftAgainst (B) / at the deposit-holding branch, as overdraft or demand loan without closing the deposit. loan maximum 90% of deposit face value plus accrued interest, rate linked to prevailing base rate. The page gives no foreign-currency loan ceiling here.
Tax says interest is exempt from Indian income tax while eligible as non-resident; after relocation, tax depends on the customer's tax status.
RepatriationPrincipal and interest fully repatriable; the page says both are payable in foreign currency.
Opening routesFresh overseas remittance with currency, amount and tenor instructions; debit an or account using Internet Banking's Inward Remittance Disposal Request; or send/post/courier a request letter to the branch.
Outward remittanceInternet Banking after adding the beneficiary; at a branch use the standard request letter and post/courier it. says a request by email cannot be acted upon.
Account-opening documents lists a common //(B)/ application, but the linked six-page application has not been readable in this review. The required-documents checklist remains unresolved.
  • This table reproduces terms published on the (B) account page and related current source pages; it does not imply that a new (B) application can be completed without the unread application form.
  • The account page displays last updated 5 April 2025; the linked interest-rate page is separately refreshed and effective 8 October 2026.
(B) Account — product page · Features; Permissible Credits; /; Loans; remittance and opening procedures · accessed 8 Oct 2026Open official source ↗
Table 5 · 9 rows · 2 columnsSBI FCNR(B) — permitted resident-relative joint holdersView tableHide table

Scroll sideways to view every column

SBI FCNR(B) — permitted resident-relative joint holders
Relationship / conditionPublished account operation
// and resident relative// is the former (first holder); resident relative is the survivor (second holder).
Hindu Undivided FamilyResident joint holder may be a member of the same .
SpouseHusband and wife are listed.
Father or motherIncludes step-father and step-mother.
SonIncludes step-son.
Son's wifeExplicitly listed.
DaughterExplicitly listed.
Daughter's husbandExplicitly listed.
Brother or sisterIncludes step-brother and step-sister.
  • This is product-page list; the page also includes relatives prescribed under the cited legal relationship rule. It must not be read as allowing any resident co-holder.
(B) Account — product page · Joint account of Non-Residents with Residents · accessed 8 Oct 2026Open official source ↗
Table 6 · 6 rows · 2 columnsSBI FCNR(B) — interest on a deceased depositor's claimView tableHide table

Scroll sideways to view every column

SBI FCNR(B) — interest on a deceased depositor's claim
Claim timing / claimantPublished interest treatment
Claim paid at deposit maturityContracted rate.
Claim before maturityRate applicable to the actual period the deposit remained with ; no pre-payment penalty.
Death before maturity; claim after maturityContracted rate through maturity, then simple interest at the rate operative on maturity for the post-maturity period.
Death after maturity-scheme savings rate operative at maturity from maturity to payment; also describes notional rates while converting to /resident rupee even if minimum maturity is incomplete.
Resident claimantsConvert proceeds to at maturity; for the later period use the rate for a domestic term deposit of similar maturity.
Interest periodInterest is paid for the period the deposit remained with , subject to the applicable claim condition above.
  • Full product-page deceased-depositor terms retained; this is separate from the ordinary premature-withdrawal rule for the account holder.
(B) Account — product page · Interest payable on deposit of deceased depositor · accessed 8 Oct 2026Open official source ↗
Table 7 · 6 rows · 3 columnsSBI FCNR(B) remittance and forward-contract charge scopeView tableHide table

Scroll sideways to view every column

SBI FCNR(B) remittance and forward-contract charge scope
TransactionOfficial published charge / conditionApplicability to product
Outward remittance from (B)/ accountFree of charge; applicable out-of-pocket expenses may be recovered.Explicit (B) row in the current schedule.
Outward message₹500 per message; not applicable to P-segment customers. Incoming obligatory messages are free.Separate general row; schedule does not say whether it is charged in addition to the (B) free-remittance row.
Forward-contract booking(B) Premium page: no booking charge. schedule: ₹500 plus swap cost for booking sales/purchase contracts.Conflicting statements; general tariff does not identify an (B) Premium exception. Do not merge or apply one fee as definitive.
Early delivery, extension or cancellation of a forward contract₹500 plus swap cost and cancellation charges wherever applicable; normal delivery is excluded.General schedule; Premium page says depositor bears cancellation charges and any exchange loss but publishes no amount. Exact overlap remains unresolved.
Actual expenses and taxApplicable foreign-bank/postage/courier and other actual out-of-pocket charges may be recovered; /TCS applies over charges under extant instructions.Only where the relevant transaction incurs those charges.
Non-conversion commission0.10% of inward/outward amount, minimum ₹500, maximum ₹25,000; not applicable when a transaction uses foreign currency held in an account at .The account-page remittance route uses (B) funds; applicability of the foreign-currency-held exception should be confirmed for the exact transaction.
  • tariff effective 1 October 2026, pages 6 and 8–10. The official schedule has distinct service-charge rows; no overlapping charges are assumed where the tariff does not state stacking.
  • The Premium page is last updated 12 September 2024. Its no-booking-charge term conflicts with the later general schedule; this table deliberately leaves exact product scope unresolved.
Schedule of Foreign Exchange Transaction Related Service Charges — Consolidated with Instructions · page 6, Forward Contracts; page 8, outward remittance and ; page 9, non-conversion; page 10, taxes and out-of-pocket expenses · effective 1 Oct 2026 · accessed 8 Oct 2026Open official source ↗
Table 8 · 3 rows · 3 columnsSBI deposit products — senior-citizen rate treatmentDistinct senior rate where published; otherwise the source-backed non-applicable treatment.View tableHide table

Scroll sideways to view every column

SBI deposit products — senior-citizen rate treatment
Product groupPublished treatmentEvidence
Senior Citizens' Savings Scheme8.20% p.a. for 1 July–30 September 2026Government-notified scheme rate
/// non-callable productsNo separate senior-citizen rate publishedCurrency/tenor pricing table
Capital Gains, Gold Monetisation, , Sukanya, tax-saver and Student No separate senior-citizen rate publishedScheme/programme terms
  • No senior premium is inferred where the issuer does not publish one.
deposit and rate routes · Applicable product rate tables · accessed 29 Aug 2026Open official source ↗

More from State Bank of India

Related products

SBI Advantage FCNR(B) Deposit

catalogue still lists Advantage (B), but its former page stated availability through 30 September 2026 and the detail route now returns 404; current post-expiry availability and rates are unconfirmed.

View product

SBI Annuity Deposit Scheme

A lump-sum deposit repaid through monthly instalments comprising principal and interest on the reducing balance.

View product

SBI Capgains Plus Account

A Capital Gains Account Scheme product offering a linked savings account and term deposits for temporarily holding eligible capital-gain proceeds.

View product

SBI FCNR(B) Premium Account

A 1–5 year (B) deposit paired with booked forward cover; the deposit follows the current (B) rate matrix and publishes no separate Premium uplift.

View product