HDFC and ICICI Bank Raise FCNR Deposit Rates to 6.25% for NRIs
HDFC Bank and ICICI Bank increased interest rates on Foreign Currency Non-Resident (Bank) fixed deposits to 6.25% in August 2026. The move follows a Reserve Bank of India announcement that the government will bear hedging costs for three-to-five-year deposits until September 30, 2026, allowing banks to offer higher tax-free returns to NRIs. The race for … Read more