Mumbai: In a major move to offer better returns to the Indian diaspora, Union Bank India increased its Interest Rates on its FCNR (B) Deposits – “UBI Unique FCNR (B) Deposit Scheme” effective from June 23, 2026. The revision follows the Reserve Bank of India’s notification on the USD-INR Swap Facility for FCNR (B) Deposits, which enables scheduled commercial banks to mobilise fresh FCNR (B) deposits, including renewals, with maturities ranging from three to five years.

With this increase, the revised interest rates for FCNR (B) deposits under the slab less than USD 1 million, for the tenure 3 years and less than 4 years will offer 6.10% per annum; for the tenure 4 years to less than 5 years will offer 6.25% per annum and for the tenure 5 years will offer 6.45% p.a.

For the FCNR (B) deposits under the slab USD 1 million and above for the tenure 3 years and less than 4 years will offer 6.20% per annum; for the tenure 4 years to less than 5 years will offer 6.40% per annum and for the tenure 5 years will offer 6.60% p.a.

The revised rates will apply to fresh FCNR (B) deposits mobilised under the Unique FCNR (B) Deposit Scheme, including eligible deposits renewed upon maturity.

Designed to reward long-term savings, the scheme features a one-year lock-in period.

The revised interest rates underscore Union Bank of India’s commitment to providing attractive deposit solutions for its NRI customers.