Dollar Deposits
Latest news, explainers and analysis on Dollar Deposits. Tracking 2 stories on Arth Vani.
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Latest on Dollar Deposits
HDFC, ICICI Bank Raise Dollar Deposit Rates Ahead of Sept 30 Scheme End
HDFC Bank and ICICI Bank have increased interest rates on their dollar-denominated FCNR(B) deposits. This move aims to attract foreign currency as a special scheme for these deposits concludes on September 30, 2022. The rate adjustments are a response to rising global interest rates and increased borrowing costs overseas.
BreakingIndian Banks Offer Up to 7% Interest on Dollar Deposits to Attract NRI Funds
Major Indian banks have hiked interest rates on foreign currency deposits to nearly 7% to draw in NRI investments. This move aims to stabilize the rupee and address the growing demand for liquidity amid rising global oil prices.
Interest rates, fees and eligibility for banking products are set by the respective banks and change frequently — verify the current terms with the provider before applying. Some listings may be sponsored. Not financial advice.