Axis FCNR FD Interest Rates

Axis FCNR FD Interest Rates – Highlights

Particulars	FCNR (B) Deposits -USD
Highest slab rate	4.00% p.a. (1 year to less than 2 years)
For 1 year	4.00% p.a.
For 2 years	3.50% p.a.
For 3 years	3.25% p.a.
For 4 years	2.95% p.a.
For 5 years	2.95% p.a.

Interest rates are updated as of 30 March 2026

Axis FCNR FD Interest Rates w.e.f. 2 March 2026

Tenure	USD		GBP	EURO	AUD	CAD	JPY
	Below 1 million	1 million & above
1 year to less than 2 years	4.00%	4.00%	4.10%	1.65%	3.75%	2.30%	0.01%
2 years to less than 3 years	3.50%	3.50%	3.65%	0.01%	3.60%	2.20%	0.01%
3 years to less than 4 years	3.25%	3.25%	0.01%	0.01%	3.15%	2.10%	0.01%
4 years to less than 5 years	2.95%	2.95%	0.01%	0.01%	3.15%	1.95%	0.01%
5 years	2.95%	2.95%	0.01%	0.01%	2.95%	1.75%	0.01%

Features of Axis FCNR(B) Fixed Deposits

• Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs), Persons of Indian Origin (PIOs) are eligibile to open Axis FCNR(B) deposits.
• Depositors can hold FCNR(B) deposits in any of the 6 foreign currencies – US Dollars (USD), Pounds Sterling (GBP), Euro, Australian Dollars (AUD) and Canadian Dollars (CAD).
• The tenure for FCNR fixed deposit ranges from 1 year to 5 years.
• Depositor can open FCNR (B) deposits from funds contributed via:
  • Foreign inward remittances
  • Traveller’s cheques or foreign currency tendered by the depositor personally
  • Transfers from existing FCNR accounts
• The fixed deposit interest rates of FCNR(B) are calculated as below:-
  • For 1 year, the interest would be calculated on the applicable rate without any compounding effect.
  • For Axis FD of more than 1 year, interest is calculated at intervals of 180 days and thereafter for remaining actual number of days may be compounded.
• The principal and interest amount earned are fully repatriable, i.e., depositor can move their funds to any overseas bank account. 

Eligibility for Opening FCNR Fixed Deposit

The eligibility for NRIs and PIOs/OCIs for opening Axis FCNR FD account – Foreign Currency Non-Resident Account is mentioned below:-

Eligibility for NRIs – Non-Resident Indian

An Indian citizen residing outside India for:-

• Studies, business, vacation, or employment
• Official deputed abroad by PSUs or the Government of India or serving in a UN organisation
• Indian nationals working on oil rigs, as mariners or working in foreign-registered airlines

Eligibility for PIOs or OCIs

An individual holding a foreign passport, except Pakistani & Bangladeshi, who

• Has held an Indian passport at any point in time
• Grandparent or parent was an Indian Citizen by virtue of the Constitution of India or the Indian Citizenship Act 1955
• Is a spouse of an Indian Citizen or the spouse of a PIO

Documents Required for Opening FCNR Deposit

• Proof of NRI Status (any one of the following)
  • Residence Permit (the visa could be either in the passport or given separately or e-visa) 
  • Employment Visa
  • Dependent Visa copy
  • Work Visa
  • Resident Visa
  • Student
• Proof of OCI/PIO Status (any one of the following)
  • Passport
  • PIO Card
  • Birth Certificate
  • OCI Card
  • Indian Ration Card
  • Voter’s ID Card
  • Voter’s card of Spouse/Mother/Father/Grand Parents with valid relationship proof
  • Expired Indian Passport
  • Registered Marriage certificate
  • Certificate issued by the Indian Embassy or Consulate
  • Recent NRE Bank Account Statement from any Indian scheduled Bank (not more than 3 months old).
  • Existing or expired Indian Passport
  • In case a person qualifies as a PIO by virtue of being a spouse of an Indian Citizen or PIO, the marriage certificate, along with proof of Indian citizenship / PIO status of the spouse, should be obtained. Such bank accounts are to be opened jointly with his or her NRI/PIO spouse
• Copy of a Valid Indian Passport
• Mandatory PAN Card or Form 60
• Communication Address Proof

Loan Against FCNR Deposits

• NRIs can avail loan against their against FCNR fixed deposits.
• he loan proceeds can be used for carrying out business activities or for personal purposes except agriculture/plantation activities, relending and real estate business.

Premature Withdrawal of Axis FCNR Deposits

• Premature Withdrawal of FD for FCNR deposits are as follows:-
  

Premature Withdrawal	Penalty
USD	No penalty below USD 1 million
EURO	No penalty below EURO 1 million
GBP	No penalty below GBP 7,50,000
JPY	No penalty below JPY 125 million
AUD	No penalty below AUD 1.5 million
CAD	No penalty below CAD 1.5 million

• The deposits coming under no penalty as mentioned above, the interest rate would be on the date of FD, as applicable for the duration the FD has remained with the bank or the contracted rate, whichever is lower.

• The deposits coming under penalty, the interest rate would be 1% below the card rate as on the date of FD, as applicable for the duration the FD has remained with the bank or the 1% below the contracted rate, whichever is lower.
• The interest will be paid if FCNR deposits is withdrawn before 1 year.

FAQs

What currencies are available for Axis FCNR Fixed Deposits?

Depositors can hold Axis Bank FCNR(B) deposits in any of the 6 foreign currencies – US Dollars (USD), Pounds Sterling (GBP), Euro, Australian Dollars (AUD) and Canadian Dollars (CAD).

What is the highest FD rate for Axis FCNR(B) USD deposits?

The highest FD interest rate for Axis FCNR(B) USD deposits is 4.00% p.a. for tenures of 1 year to less than 2 years.

Can I have a nominee for FCNR Fixed Deposit?

NRIs can have a nominee while opening an Axis Bank FCNR Fixed Deposit account.

Are interest earned from FCNR(B) taxable in India?

Interest earned from FCNR(B) deposits are tax free in India.

Can I transfer deposits from my existing FCNR to open NRO or NRE account?

Depositors can transfer deposits from their existing FCNR to open NRO or NRE account