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Loan Against FCNR (B) Deposits in Foreign Currency in India

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Baroda NRI Services

Loan Against FCNR (B) Deposits in Foreign Currency in India

This plan is ideal for Non-Resident Indians seeking loans in Foreign Currency in India against their own FCNR (B) Deposits.

You can request up to 95% of the amount*. As per current RBI guidelines in force, Foreign Currency loans is allowed to depositor / third party without any ceiling subject to usual margin requirements.

  • The facility of premature withdrawal of FCNR deposits shall not be available where loans against such deposits are to be availed:
  • For purposes other than investment in India, repayment shall be made either by adjustment of the deposit or by fresh inward remittances from outside India through normal banking channels.
  • Facilities for loans/overdraft will be advanced against FCNR (B) Fixed deposits in USD, GBP,EUR or YEN.
  • Rate of interest: 1.5% p.a. over six months LIBOR rate as on the date of loan or 1.50 % over the FCNR (B) deposit rate , whichever is higher.
  • Interest charged to the loan/overdraft account must be credited promptly every quarter (March, June. September and December). In case of default of 2 consecutive quarters interest payment, the fixed deposit shall be prematurely withdrawn for liquidating the amount of loan/overdraft outstanding..


Margin will be 5% of present value of the deposit.

Payment Scheme

  • Wherever the Fixed Deposit is under Half Yearly Interest Payment Scheme, the depositor shall direct that this half yearly interest be credited to loan/overdraft account only.
  • Loan/overdraft amount do not enjoy the benefit of convertibility or cannot be repatriated or credited to accounts having the features of convertibility i.e. non-Resident External and Foreign currency deposit accounts.

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  • Total Interest
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Monthly Payment Rs. 1,977.00
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