Foreign Currency
Deposit (FCNR)

Axis Bank is offering the Foreign Currency Non-Resident deposit. With the FCNR you get assured returns on deposits booked for any of 6 currencies of your choice for a tenure ranging from 1 year to 5 years. Apply for the FCNR today to avail all the benefits of FCNR deposit.

Axis Bank offers NRIs a Foreign Currency Non-Resident Deposit. Be sure to check the eligibility for the same. If you have other questions, be sure to check the foreign currency non-resident deposit FAQs. FAQs for FCNR will answer all the queries that an Axis Bank account holder could possibly have.

Under this scheme, you can open Fixed Deposit Accounts in USD, GBP, EURO, JPY, AUD, and CAD.

Yes. You can transfer funds from your existing FCNR to open NRE/NRO Account.

As per the current guidelines, the entire deposit (principal and interest) is exempted from tax in India.

Yes. Nomination facility is available under FCNR Deposit.

Yes. You can avail of a loan against your FCNR Deposits in Rupees or in Foreign Currency. The loan/overdraft can be used for personal purposes or for carrying on business activities other than:

  • Relending
  • Agricultural/plantation activities
  • Real estate business

Yes. You can break your FCNR Deposit before the maturity period. FCNR Deposits will qualify for interest only if they have run for a 1 year period.

No. NRO funds cannot be used to create NRE/FCNR Deposit.

NRI Easy Guide

NRI Easy Guide