Yes Bank Ltd. has raised interest rates on foreign currency non-resident deposits by as much as 335 basis points, becoming one of the first Indian lenders to offer the program aimed at attracting capital flows and shore up the battered rupee.
The private-sector lender will offer 7 per cent on three-year FCNR(B) deposits, 7.05 per cent on four-year deposits and 7.10 per cent on five-year deposits, a spokesperson for the bank said. Previously, the bank offered rates of as high as 4 per cent on similar deposits.
The revised rates mark a sharp increase from previous levels and come days after the central bank announced regulatory relaxations to encourage banks to mobilize more foreign currency deposits between June and September.
It also introduced a dollar-rupee swap facility for banks raising such deposits, reducing the cost of attracting overseas funds.
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Published on June 10, 2026
