The Federal Bank Limited has officially announced the launch of its new product variant under the Foreign Currency Non-Resident (B) deposit framework, named the “FCNR Max Deposit Scheme”. Issued as a regulatory compliance filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the bank finalized this implementation on June 11, 2026. The product is uniquely structured to expand the bank’s non-resident deposit franchise.

The newly unveiled FCNR Max Deposit Scheme specifically caters to the international market, targeting the bank’s Non-Resident Indian (NRI) customer base. This foreign currency investment vehicle is denominated exclusively in US Dollars (USD) and carries a fixed lock-in period of 1 year, during which no premature withdrawals are permitted. The account structures a designated tenure ranging from 3 to 5 years, requiring a minimum deposit size starting from USD 500. It provides structured competitive yields, offering interest rates up to 6.00% for deposit values up to USD 1 Million, and an enhanced rate of 6.25% for high-value accumulations exceeding USD 1 Million. Designed in line with the Reserve Bank of India’s swap guidelines, the mobilization window remains active for a limited duration valid up to September 30, 2026.

Federal Bank operates as a major commercial entity in India’s private sector banking domain, providing comprehensive retail, corporate, and digital financial services. Throughout 2025, the bank implemented crucial systemic updates, including the operational transition of its public digital platforms to the highly secure “.bank.in” domain to bolster institutional cybersecurity and customer trust. Strategic administrative expansions and revised corporate frameworks marked its core business updates, navigating an evolving macroeconomic cycle under the executive leadership of Managing Director & CEO KVS Manian.

Financially, the commercial lender achieved strong fundamental metrics, showcasing sequential progress during its final quarterly results publicized for the period concluding March 31, 2025. The bank registered a quarterly net profit of ₹1,030.23 Crore, indicating a year-on-year expansion of 13.67% compared to the corresponding period. Total business volumes crossed a historic threshold of ₹5.18 Lakh Crore, backed by a 12.32% acceleration in total deposits which scaled to ₹2,83,647.47 Crore. Notably, the company’s equity roster includes backing from the late billionaire investor Rakesh Jhunjhunwala’s portfolio. His wife, Rekha Rakesh Jhunjhunwala, manages the associate wealth holdings and purposefully raised her stake in Federal Bank to 2.40% in late 2025, confirming a high-conviction positioning in the bank’s long-term operational resilience.