AU Small Finance Bank Increases FCNR Deposit Rates to 7.40% and NRE Fixed Deposit Rates to 7.60%
AU Small Finance Bank (AU SFB) has increased its interest rates on Non-Resident Indian (NRI) deposits, effective July 27, 2026. The bank raised the peak rate for Foreign Currency Non-Resident [FCNR(B)] Deposits to 7.40% p.a., up from 7.10%, and increased NRE Fixed Deposit rates to 7.60% p.a. These changes aim to attract NRIs by offering competitive returns while mitigating foreign exchange risk. The revisions align with the Reserve Bank of India's (RBI) recent announcement, which allows banks more flexibility in setting deposit rates for FCNR accounts. AU SFB also continues to offer zero forex margin and no bank charges on eligible remittances, enhancing its appeal as a comprehensive banking solution for NRIs. The updated interest rates are available through the bank's extensive network of 2,920 touchpoints across India, including digital platforms like the AU 0101 App. The move is expected to strengthen AU SFB’s position in mobilizing overseas Indian savings into India.
Topics: FCNR(B) interest rate revision NRE Fixed Deposits NRI deposits