Karur Vysya Bank has increased interest rates on its Foreign Currency Non-Resident (FCNR) deposits, offering up to 7.00% per annum on US Dollar (USD) deposits for tenures of three years and above. Effective June 10, 2026, this revision aims to attract Non-Resident Indians (NRIs) seeking higher returns on foreign currency savings without exposure to rupee exchange rate fluctuations.

Revised USD FCNR Deposit Rates

The bank has introduced a tiered interest rate structure for USD FCNR deposits, with the highest rate applicable to longer tenures. The following table details the revised rates:

Terms and Conditions

The 7.00% interest rate applies to eligible USD FCNR deposits and includes a mandatory lock-in period of one year, during which premature closure is not permitted. After the completion of one year, premature closure may be allowed as per the bank's existing guidelines, with interest paid at the applicable rate for the run period less 1%.

Key Benefits for NRI Customers

FCNR deposits offer several advantages for NRIs:

• Tax-efficient returns: Interest earned is exempt from income tax in India under current tax rules.
• No rupee exchange risk: Deposits are maintained in foreign currency, shielding value from rupee movement.
• Forward contract facility: Customers can book forward contracts to lock in exchange rates for future conversions to Indian Rupees.
• Loan against deposit: Borrowers can avail loans against their FCNR deposits without breaking the deposit.
• Account transition: Deposits transfer smoothly if the customer's residential status changes.

karur vysya bank held a meeting with institutional investors and analysts on June 08, 2026, as part of the ICICI Securities India Investor Conference titled 'India Rising: The Next Chapter'. The bank's top management team participated in the physical group and one-to-one meetings held at the Grand Hyatt in Santacruz East, Mumbai. The discussions were restricted to publicly available information, and no unpublished price sensitive information was shared during the interaction.

Management Participation

The bank's delegation included senior executives who engaged with the investor community. The participation was communicated to the stock exchanges pursuant to Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Disclosure and Compliance

The disclosure was submitted as a voluntary intimation in line with the NSE's Guidance Note on disclosures pertaining to analysts and institutional investor meets, dated July 29, 2022. Srinivasarao Maddirala, Company Secretary & Compliance Officer, confirmed that the bank adhered to regulatory norms during the conference. The schedule was subject to change due to exigencies, with any modifications to be communicated to the National Stock Exchange of India Ltd and BSE Ltd.