NRIs looking to park your dollars? Ujjivan SFB offers 7.5%, DBS up to 5.6% on FCNR deposits

Ujjivan Small Finance Bank has raised the interest rate on USD FCNR(B) deposits for the 3-5 year tenure to 7.50 percent per annum, positioning itself among the highest-paying banks in this segment. DBS Bank India has revised its rates to offer up to 5.6 percent per annum on USD FCNR(B) deposits for the same tenure, effective July 1, 2026. Both revisions align with the RBI's policy initiative to encourage banks to mobilise stable foreign currency deposits and strengthen India's foreign exchange reserves.