Kochi, June 17 -- Federal Bank has introduced a special Foreign Currency Non-Resident (FCNR) deposit in US Dollars, branded as the 'FCNR Max Deposit Scheme', offering an interest rate of 6.25 per cent per annum for tenures ranging from three to five years.
The bank said the new scheme has been launched to meet the growing demand among Non-Resident Indian (NRI) customers for high-yield and secure foreign currency investment options, while providing stable and competitive returns.
Joy P. V. said the bank remains committed to offering customer-centric financial solutions for its NRI clientele and that the FCNR Max Deposit Scheme reflects Federal Bank's focus on delivering both value and reliability in foreign currency investments.
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