TMB FCNR Plus Account

FCNR Plus Account is designed for NRIs seeking greater flexibility and value while holding deposits in foreign currency

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Foreign currency deposits with fixed returns

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Reduced exposure to currency conversion risk

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Loan and overdraft facility against deposits

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Joint holding facility with other NRIs

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Overview

Learn more about the New Foreign Currency Non Resident Plus Bank Account Schemes from TMB. Scheme has been introduced with a view to offer better yield on the FCNR (B) Deposits  Read more

 
Product Highlights

FCNR Plus Accounts combine the benefits of foreign currency deposits with additional operational flexibility. Deposits are maintained in designated foreign currencies and offer competitive interest rates over flexible tenures. Both principal and interest are fully repatriable, enabling easy cross-border fund movement

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Features and Benefits

With the FCNR Plus Account, customers enjoy assured returns without exposure to foreign exchange fluctuations. Deposits are governed by RBI and FEMA regulations, ensuring complete regulatory compliance. The account supports nomination, joint holding with eligible NRIs, and convenient deposit servicing

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Eligibility

The FCNR Plus Account can be opened by Non-Resident Indians and Persons of Indian Origin as defined under FEMA guidelines. Joint deposits are permitted only with other eligible NRIs

Account Highlights

SchemeThe Scheme (FCNR Plus) is aimed to offer better yield on FCNR (B) Term Deposits by allowing the depositors to book Forward Purchase Contract for maturity value of the FCNR (B) deposit. In case of Half-yearly Interest payout, Forward Purchase Contract will be booked for the Principal amount only.
Who can openNRIs / PIO
Currencies PermittedUSD and EURO
Minimum DepositUS$ 25,000/- and equivalent of USD 25,000/- in EURO
Tenure of Deposit1 / 2 / 3 Years
Tenure of Forward ContractCorresponding to the tenure of the deposit.
Rate of interestAs that of FCNR-B Deposits.
Interest payout option
Maturity ProceedsMaturity proceeds / Principal payable in repatriable Indian Rupees at the contracted rate.v
Joint AccountPermitted in the names of two or more NRIs who are Indian Nationals or Person of Indian Origin. Joint accounts along with resident close relative of the NRI (relatives as defined in section 2(77) of the Companies Act, 2013) can be opened on "Former" or "Survivor" basis.
Rate of interestAs that of FCNR-B Deposits.
Premature Closure

In the event of premature closure of the deposit :

  • Deposits will not be permitted to be pre-closed unless the forward purchase contract booked for the concerned deposits is cancelled.
  • No interest will be paid for the deposits which are prematurely closed before completion of one year from the date of opening. Please check our premature closure policy referred below for complete details.
  • The exchange loss arising on account of cancellation of the forward contract will have to be borne by the depositor and the swap gain, if any, will not be paid.
Cancellation of forward contractIn case the customer desires to retain the deposit and cancel the forward contract, the exchange loss on account of cancellation of the forward contract will have to be borne by the depositor and the swap gain if any will not be paid.
RepatriationMaturity proceeds can be freely repatriated.
NominationPermitted. In favour of one person only.
Power of Attorney HolderNot Permitted. The account holder has to sign the Forward Contract Agreement.
LoansPermitted subject to terms & conditions. The facility for premature withdrawal of deposits will not be available where loans against such deposits are availed of.

Premature Closure

Learn more about the Current Pre Closure Norms of FCNR / RFC Deposits at TMB.

TMB has a very clear cut and transparent policy of the charging of penal interest / charges towards the pre closure of deposits with the bank. These norms are strictly followed by the bank for every deposit made.

No Interest will be paid for :

No interest will be paid for the FCNR (B), FCNR Plus & RFC Deposits with are prematurely closed before completion of one year from the date of opening of the deposit/renewal.

For the deposits which are prematurely closed after completion of one year from the date of opening of deposit, interest will be paid at the rate of interest applicable for the period for which the deposit remained with the bank prevailing on the date of opening of the said deposit or the contracted rate of interest, whichever is less minus one hundred basis points (1%).

Exemption from Premature Renewal :

In case of FCNR (B), FCNR Plus & RFC Deposits which are extended during the tenure of the deposit for a period longer than the balance period (i.e. The remaining period of the deposit), the period of extended deposit shall be minimum of twelve months and a maximum of 5 years effective from the date of extension subject to the following condition :

  • If such premature extension is done before completion of 12 months no interest is payable on such deposits (as per RBI guidelines).
  • In all other cases, interest shall be paid at the rate applicable for period for which the deposit has actually run as prevailing on the date of opening the deposit or the contracted rate of interest whichever is less minus one hundred basis points (1%).In case of Premature Renewal, Interest shall be paid at the rate applicable for the period for which the deposit has actually run as prevailing on the date of opening the deposit or the contracted rate of interest whichever is less.

Note : If such extended deposit is prematurely closed, the payment of interest will be as given below :

  • No interest will be paid if the deposit has not crossed the minimum period of 12 months from the date of opening of the original deposit.
  • In all other cases, interest shall be paid at the rate of interest ruling on the date of original deposit (deposit before premature renewal) for the period for which the deposit has run from the date of original deposit or the contracted rate of original deposit whichever is less minus one hundred basis points (1%).

The penal clause will be applicable for all the new deposits opened / deposits which are renewed on or after Sep 01, 2016.

 

Deposit Interest Rates

TMB has been consistently offering higher rates of interest for the past several years for the benefit of its depositors since its cost of operations is low compared to other banks. The rates are split for different segments to offer the highest rate of interest possible. Apart from the Regular Domestic Deposits, we have special rates for High Value Deposits as well as even higher interest rates for Senior Citizens of India.

Savings Bank Account

Balance up to 5 lakhs2.60% (p.a)
Balance > 5 Lakhs to 10 Lakhs3.00% (p.a)
Balance > Rs.10 lakh up to Rs.1 Crore3.25% (p.a)
Balance > Rs.1 Crore up to Rs.2 Crore4.50% (p.a)
Balance > Rs.2 Crore up to Rs.10 Crore6.00% (p.a)
Balance > Rs.10 Crore up to Rs.25 Crore5.50% (p.a)
Balance > Rs.25 Crore up to Rs.100 Crore5.00% (p.a)
Balance > Rs.100 Crore4.00% (p.a)

Terms and Conditions

  • Above Interest Rates applicable from July 01,2026.
  • Rates offered on daily closing balance in SB Account and compounded quarterly.
  • Please note that Interest Rates are subject to change without notice as per the market trends and the bank’s decision in this regard is final.

Domestic & NRO Term Deposits

RATE ON DOMESTIC TERM DEPOSITS & NRO DEPOSITS* (p.a).

DEPOSITS BELOW RS.3 CRORE

Domestic and NRO Term Deposits

W.E.F 10.04.2026

(Percentage per annum)

Period

General Public
(Below Rs.3 crore)

Senior Citizen
(Below Rs.3 crore)

Super Senior Citizen
(Below Rs.3 crore)

Callable

Non-Callable
(Above ₹ 1 Cr)#

Callable

Non-Callable
(Above ₹ 1 Cr)#

Callable

Non-Callable
(Above ₹ 1 Cr)#

7-14 days4.00-4.00-4.00-
15-29 days4.25-4.25-4.25-
30-45 days4.50-4.50-4.50-
46-60 days4.80-4.80-4.80-
61-90 days4.80-4.80-4.80-
91-120 days5.805.905.80-5.80-
121-179 days5.805.905.80-5.80-
180-270 days6.306.406.30-6.30-
271 days to less than 1 year6.506.606.50-6.50-
1 year6.806.907.30 7.40 
Above 1 year to less than 456 days6.706.807.20-7.30-
456 days (TMB 456
Special Deposit scheme) @		7.107.207.50-7.60-
Above 456 days to 566 days6.606.707.10-7.20-
567 days (TMB 567
Special Deposit scheme) @		7.257.357.70-7.75-
Above 567 days to less than 2 years6.606.707.10-7.20-
2 years to less than 3 years7.007.107.507.607.607.70
3 years to 10 years6.706.807.207.307.307.40

@ Special schemes are available for limited period only

# Non Callable Term Deposits are deposits where Premature withdrawal is not permitted.

Note:

  • Senior Citizen – aged 60 years and above
  • Super Senior Citizen – aged 80 years and above
  • Additional rate of interest payable on term deposits to Senior Citizens and Super Senior Citizens shall not apply to NRO Term Deposits
  • Additional rate of interest payable on term deposits to Senior Citizens and Super Senior Citizens shall not apply for the period less than one year
  • There is no penal interest for premature closure of bulk deposits (Rs.3 crore and above) after 7 days of opening.

Bulk Domestic /NRO/NRE Term Deposit

Rate on Bulk Deposits

(Domestic Term Deposits & NRO/NRE* Deposits) (%p.a)

With effect from 12.08.2026

PeriodCallableNon-Callable #
 3 to <5cr5 to <10cr10 to <25 cr25 to <50 cr50 to <100 cr100 cr to <250 cr250 cr & above3 to <5cr5 to <10cr10 to <25 cr25 to <50 cr50 to <100 cr100 cr to <250 cr250 cr & above
7-14 days4.054.054.054.554.804.804.80–
15-29 days4.304.304.354.804.804.804.80–
30-45 days5.305.305.305.305.305.305.30–
46-60 days5.555.555.555.555.555.555.555.805.805.805.805.805.805.80
61-90 days5.555.555.555.555.555.555.555.805.805.805.805.805.805.80
91-120 days5.805.805.805.805.805.805.806.056.056.056.056.056.056.05
121-179 days6.306.306.456.456.506.506.506.356.356.556.556.556.556.55
180-270 days6.306.306.456.456.506.506.506.356.356.556.556.556.556.55
271 days to less than 1 year6.556.556.806.806.806.806.806.606.607.057.057.057.057.05
1 year7.407.407.407.407.407.407.407.507.507.507.507.507.507.50
>1 year to 15 months7.307.307.307.307.307.307.307.407.407.907.907.957.407.40
>15 months to <2 years7.257.307.307.307.307.307.307.307.557.557.557.557.557.55
2 years to <3 years6.556.556.556.706.706.706.706.806.806.806.806.806.806.80
3 years to 10 years6.556.556.556.706.706.706.706.806.806.806.806.806.806.80

#-Non callable term deposits are deposits where PREMATURE WITHDRAWAL IS NOT PERMITTED.

Note:

  • There is no penal interest for premature closure of bulk deposits (Rs.3 crore and above) after 7 days of opening.
  • Kindly contact the nearest branch for Bulk Deposits and other terms and conditions. The above rates are subject to change without prior notice. The acceptance of bulk deposits shall be subject to the permission from Treasury department, keeping in view the liquidity position of the Bank.
  • * Minimum tenor for NRE Deposit is 1 Year.

NRE Deposits

DEPOSITS BELOW RS.3 CRORE

NRE Term Deposits

W.E.F. 10.04.2026

(Percentage per annum)

Period

Callable

Non-Callable

(Above ₹ 1 Cr)

1 year6.80-
Above 1 year to less than 456 days6.706.80
456 days (TMB 456 Special Deposit scheme) @7.107.20
Above 456 days to 566 days6.606.70
567 days (TMB 567 Special Deposit scheme) @7.257.35
Above 567 days to less than 2 years6.606.70
2 years to less than 3 years7.007.10
3 years to 10 years6.706.80

@ Special schemes are available for limited period only

# Non Callable Term Deposits are deposits where Premature withdrawal is not permitted.

Note :

  • No interest shall be paid on deposits which are pre-closed before the expiry of minimum period of one year
  • 1% penal charges will be levied for premature withdrawal of NRE Term deposits. The penal interest of 1% will be deducted from the rate prevailed on the date of opening of the deposits for the period for which the deposit has remained with us.

With effect from 7th July 2026, the rate of interest on FCNR (B) / FCNR Plus / RFC deposits will be revised as detailed below:

Special Rate of Interest for FCNR (B) deposit  (Eligible for FRESH FCNR (B) deposits and renewal of FCNR (B) deposits on MATURITY only):

Currency3 Years and above but less than 4 Years4 Years and above but less than 5 Years5 Years only
USD below 1 Lakh7.257.257.25
USD 1 Lakh & above7.257.257.25
GBP6.756.756.75
EUR3.503.503.50
  • This special rate of interest is applicable for FRESH FCNR (B) deposits and renewal of FCNR (B) deposits on MATURITY only. Any pre-mature closure / renewal of existing FCNR (B) deposits is NOT permitted.
  • The FCNR (B) deposits accepted IN USD, EUR and GBP for the period 3 years to 5 years will have a lock-in period of one year, and no premature closure will be permitted for one year from the date of deposit.

INTEREST RATE FOR FCNR (B) / FCNR Plus / RFC deposits w.e.f. 7th July 2026

 

Currency

 

1 Year but  less than 2 Years2 Years and above but less than 3 Years3 Years and above but less than 4 Years4 Years and above but less than 5 Years5 Years only
USD below 1 Lakh5.104.003.903.603.50
USD 1 Lakh & above5.504.153.903.603.50
GBP3.803.803.753.503.25
EUR2.502.252.002.001.75
CAD4.003.753.753.503.50
JPY0.500.500.500.500.50

Note :

  • Rates are subject to change without prior notice
  • No Interest is payable if the deposit is withdrawn before one year
  • For 1 year deposit, simple interest is applicable
  • For deposit above 1 year, Interest is compounded at half yearly frequency.

 

  • Any pre-closure after completion of one year will be applicable to pre-closure penalty norms.
  • No interest shall be paid on premature withdrawal of deposits upto 7 days from the date of deposit / renewal. (For deposits opened/renewed on or after 13/06/2024)
  • The interest rate for premature withdrawal will be calculated based on the applicable rate of interest for the period the deposit has remained with bank less the penal rate (1%).

As per the section 206AA of the Income Tax Act, quoting of Permanent Account Number (PAN) is mandatory, if the interest on term deposits for the financial year exceeds Rs. 50,000.00 for ordinary citizens and Rs. 1,00,000.00 for senior citizens. If PAN is not furnished, then tax has to be deducted at higher rate of 20%. Quoting of PAN in the declaration form 121 is mandatory for non-deduction of tax at source. If PAN is not quoted in the form 121, tax will be deducted at a higher rate of 20%.

Therefore, the customers are requested to furnish their PAN to the Bank and those customers who are eligible to submit Form 121 are requested to submit Form No. 121 with their Permanent Account Number (PAN) along with the photocopy of the PAN Card immediately.

Frequently Asked Questions

Find answers to the most common questions about eligibility, benefits, and
features of the TMB Royal Savings Bank Account

It is an enhanced FCNR deposit offering additional banking features.

It is an enhanced FCNR deposit offering additional banking features.
Eligible NRIs meeting deposit and relationship criteria can open this account.

Eligible NRIs meeting deposit and relationship criteria can open this account.
The deposit is held in approved foreign currencies.

The deposit is held in approved foreign currencies.
Repatriation is allowed subject to FEMA guidelines.

Repatriation is allowed subject to FEMA guidelines.
Premature closure is allowed as per bank policy.

Premature closure is allowed as per bank policy.

It is an enhanced FCNR deposit offering additional banking features.

It is an enhanced FCNR deposit offering additional banking features.
Eligible NRIs meeting deposit and relationship criteria can open this account.

Eligible NRIs meeting deposit and relationship criteria can open this account.
The deposit is held in approved foreign currencies.

The deposit is held in approved foreign currencies.
Repatriation is allowed subject to FEMA guidelines.

Repatriation is allowed subject to FEMA guidelines.
Premature closure is allowed as per bank policy.

Premature closure is allowed as per bank policy.