Compare ICICI Bank FCNR(B) Fixed Deposit and Kotak Mahindra Bank FCNR(B) 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/PIOs/OCIs who want to keep foreign earnings in the same currency rather than convert into INR before placing a term deposit.
Kotak NRI customers who want to retain foreign currency and can choose among USD, GBP, EUR, AUD and SGD term-deposit tenures.
bankingreference.info · Comparison research sheet
Prepared 14 Sep 2026 · Source page: https://bankingreference.info/compare-banking/icici-fcnr-b-fixed-deposit-vs-kotak-fcnr-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 | ICICI Bank FCNR(B) Fixed Deposit | Kotak Mahindra Bank FCNR(B) Deposit |
|---|---|---|
| Current rate evidence | 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. | Rates effective 1 September 2026 are currency-specific: at 1 year to under 2 years the reviewed table shows 4.00% USD, 4.00% GBP, 2.55% EUR, 4.35% AUD and 1.25% SGD for the displayed lower-value USD band. |
| Currency / amount / tenure | 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. | FCNR term deposits are offered in USD, EUR, GBP, AUD and SGD for 1 to 5 years, subject to currency-specific quoting/availability. |
| Tax / repatriation / payout | 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. | Principal and interest are fully and freely repatriable; interest is tax-exempt in India under current FCNR treatment; interest is compounded at 180-day intervals. |
| Premature withdrawal / liquidity | 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. | Minimum holding to earn interest is one year. Premature closure is allowed after the minimum period but pays the lower applicable/contracted rate less the currency-specific penalty shown by Kotak. |
| NRI / PIO / OCI eligibility | Eligible NRIs, PIOs and OCIs; minors can hold through an eligible guardian under current bank rules. | Eligible NRI/PIO customers under Kotak FCNR/KYC rules. |
| Deposit-state / funding rule | Online booking debits an eligible NRE relationship; currency and tenure jointly determine the contracted FCNR rate. | FCNR can be funded through eligible repatriable/NRE channels; its rate must remain attached to currency, amount band and tenure. |
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Reviewed September 10, 2026 · 2 attached first-party sources
Reviewed September 10, 2026 · 2 attached first-party sources