Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
Product structureFCNR(B) deposit combined with forward cover
Source 1Deposit and forward tenors1 year through 5 years
Source 2Deposit currenciesUSD, GBP, EUR, CAD, AUD and JPY
Source 3Minimum deposit10,000 units for USD, GBP, EUR, CAD or AUD; JPY 1,000,000
Source 4Published yield structureUnderlying FCNR(B) deposit rate plus forward cover; SBI does not publish one fixed Premium yield on the product page
Source 5Final-return currenciesINR, USD, GBP, EUR, CAD, AUD or JPY
Source 6Forward-contract booking chargeNo booking charge
Source 7Forward-contract cancellationThe depositor bears cancellation charges and any exchange loss at the prevailing rate
Source 8Premature deposit closureNo separate withdrawal penalty; the applicable interest follows SBI's standard FCNR(B) deposit terms
Source 9Benefits and features
- Combines a foreign-currency deposit with forward cover
- Seven possible final-return currencies, including INR
- No charge for booking the forward contract
Eligibility
- The product is presented within SBI's NRI account catalogue and uses an FCNR(B) deposit as its base.
- The customer must meet both the relevant FCNR(B) requirements and the published currency-specific minimum deposit.
- Cancelling the forward contract can create charges and exchange loss even though initial booking is free.
Passing a listed condition does not mean the bank will approve an application.