Compare HDFC Bank FCNR(B) Deposit and ICICI Bank FCNR(B) Fixed Deposit using the controlling cost, balance, rate, tenure, liquidity, limits, eligibility and current first-party bank evidence for this product type.
Compare the two source-backed records without collapsing unlike conditions into a winner score.
NRIs who want a bank term deposit without converting the principal into INR and whose home/earning currency matches one of HDFC’s supported FCNR currencies.
NRIs/PIOs/OCIs who want to keep foreign earnings in the same currency rather than convert into INR before placing a term deposit.
bankingreference.info · Comparison research sheet
Prepared 14 Sep 2026 · Source page: https://bankingreference.info/compare-banking/hdfc-fcnr-b-deposit-vs-icici-fcnr-b-fixed-deposit/
General product research only. Recheck the listed first-party sources before acting because product terms can change after the recorded review dates.
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Source review: September 10, 2026
Maintenance: Within the scheduled review window
2 attached sources. A review date is not a guarantee that terms have stayed unchanged.
Source review: September 10, 2026
Maintenance: Within the scheduled review window
2 attached sources. A review date is not a guarantee that terms have stayed unchanged.
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| Decision factor | HDFC Bank FCNR(B) Deposit | ICICI Bank FCNR(B) Fixed Deposit |
|---|---|---|
| Current rate evidence | Rates are currency- and tenure-specific. The reviewed schedule effective 1 September 2026 ranges, for example, from 3.80% USD and 3.75% GBP at 1 year to under 2 years, with different rates for EUR, JPY, AUD, CAD and SGD. | The applicable interest rate is fixed at booking and varies by currency and tenure; ICICI directs customers to its dated FCNR(B) rate schedule rather than one universal headline rate. |
| Currency / amount / tenure | Tenure is generally 1 to 5 years under FCNR rules; supported currencies are USD, GBP, EUR, JPY, AUD, CAD and SGD. | Minimum is 1,000 currency units for USD/GBP and 2,000 for AUD/CAD/SGD. USD tenure can run 1–5 years; GBP/CAD/SGD/AUD are currently offered from 1 year to under 3 years. |
| Tax / repatriation / payout | Principal and interest are fully repatriable; interest is tax-exempt in India under current FCNR treatment; keeping the deposit in foreign currency removes INR conversion risk on the deposit principal. | Interest is tax-free in India under current FCNR treatment; principal and interest are fully repatriable; traditional half-yearly payout or cumulative half-yearly compounding is available. |
| Premature withdrawal / liquidity | No interest is paid if withdrawn before completing one year. For ordinary current FCNR deposits, premature interest is recalculated using the booked-date rate applicable to the actual period; HDFC currently states no penalty on ordinary premature FCNR closure. | No interest is payable before 12 months. Ordinary premature closure after 12 months is currently described as penalty-free, subject to booked-date actual-period rate treatment; the special June–August 2026 36–60-month window had separate lock-in/penalty terms. |
| NRI / PIO / OCI eligibility | Eligible NRI/PIO customers under HDFC Bank FCNR and KYC rules. | Eligible NRIs, PIOs and OCIs; minors can hold through an eligible guardian under current bank rules. |
| Deposit-state / funding rule | FCNR is a foreign-currency term-deposit state, not an INR NRE/NRO rate variant. Compare the chosen currency’s own rate curve and tenure. | Online booking debits an eligible NRE relationship; currency and tenure jointly determine the contracted FCNR rate. |
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Reviewed September 10, 2026 · 2 attached first-party sources
Reviewed September 10, 2026 · 2 attached first-party sources