{"id":8323,"date":"2025-08-12T09:42:58","date_gmt":"2025-08-12T09:42:58","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/?post_type=banking&#038;p=8323"},"modified":"2025-08-12T09:42:58","modified_gmt":"2025-08-12T09:42:58","slug":"foreign-currency-non%e2%80%91resident-deposit-fcnr-eligibility-features-documents-required","status":"publish","type":"banking","link":"https:\/\/lemonn.co.in\/blog\/banking\/foreign-currency-non%e2%80%91resident-deposit-fcnr-eligibility-features-documents-required\/","title":{"rendered":"Foreign Currency Non\u2011Resident Deposit\u00a0(FCNR): Eligibility, Features &#038; Documents Required"},"content":{"rendered":"\n<p>FCNR deposits allow NRIs to maintain term deposits in foreign currencies (USD, GBP, EUR, etc.) with Indian banks. Interest is payable in the same currency, insulating the deposit from rupee depreciation. Tenures typically range from <strong>1&nbsp;year to 5&nbsp;years<\/strong>. Interest rates vary by currency and are usually aligned with international LIBOR\/SOFR rates. Eligibility: any NRI or OCI can open an FCNR deposit using funds remitted from abroad or transferred from an existing NRE\/FCNR account. Required documents include a valid passport, visa, overseas address proof and PAN or Form&nbsp;60. Interest on FCNR deposits is tax\u2011free in India. Compare currency\u2011wise rates across banks to select the best option.<\/p>\n\n\n\n<h2 id='fcnr-deposit-essentials'  id=\"boomdevs_1\" class=\"wp-block-heading\">FCNR Deposit Essentials<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th>Parameter<\/th><th>Details<\/th><\/tr><\/thead><tbody><tr><td>Currencies<\/td><td>USD, GBP, EUR, JPY, CAD, AUD etc.<\/td><\/tr><tr><td>Tenure<\/td><td>1&nbsp;\u2013&nbsp;5&nbsp;years<\/td><\/tr><tr><td>Interest payout<\/td><td>Annual or at maturity<\/td><\/tr><tr><td>Taxation<\/td><td>Interest exempt in India<\/td><\/tr><tr><td>Repatriation<\/td><td>Both principal and interest fully repatriable<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Contact your bank for the latest FCNR rates and ensure you understand currency risk.<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-8323","banking","type-banking","status-publish","hentry"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/banking\/8323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/banking"}],"about":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/types\/banking"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=8323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}