Federal Bank has announced the launch of a new variant of its Foreign Currency Non-Resident (Bank) deposit, named the ‘FCNR Max Deposit Scheme’. This product targets Non-Resident Indian (NRI) customers and aims to provide them with enhanced deposit options. The scheme was officially launched on June 11, 2026, marking an expansion of Federal Bank’s product offerings for its international clientele.
New Product Launch for NRIs
Federal Bank is pleased to announce the introduction of a new financial product designed for its Non-Resident Indian (NRI) customer base. The bank has launched a new variant of the Foreign Currency Non-Resident (Bank) deposit, which has been named the ‘FCNR Max Deposit Scheme’. This initiative is part of the bank’s strategy to enhance its service offerings and cater to the specific needs of its international clientele.
Scheme Details
The FCNR Max Deposit Scheme falls under the FCNR (B) deposit category and is specifically tailored to serve NRI customers. The official launch date for this new scheme was June 11, 2026. At present, the product is intended for the international market, with no immediate launch planned for domestic markets.
The details provided indicate that the product’s launch is aligned with regulatory requirements and is aimed at strengthening Federal Bank’s position in offering specialized banking solutions.
Source: BSE
