FCNR Platinum

Assured INR Returns with Forward Booking Advantage

South Indian Bank’s FCNR Platinum Deposit is a smart investment option exclusively for NRIs, offering the dual benefit of foreign currency interest earnings and assured INR conversion at maturity. With forward rate booking at the time of deposit, this product safeguards your returns from currency fluctuations while providing higher yields than typical NRE/NRO Rupee deposits.

Eligible Persons: Non-Resident Indians (NRIs).
Denominated Currencies: Available in US Dollar, Pound Sterling, and Euro.
Minimum Deposit: 10,000 units in each currency.
Deposit Tenure: One year and one day to five years.
Forward Booking: Depositors must book a forward contract for maturity value conversion at the time of deposit opening.

Additional Details:

The forward contract must be requested in writing using the prescribed format available on our website (Help Desk → Download Forms → NRI Banking Accounts → Application for Forward Booking).
In case of premature closure, cancellation charges for the forward contract will be recovered from the depositor.
Upon maturity, the deposit will be converted to INR at the booked rate and credited to the depositor’s NRE SB account.
The FCNR Platinum Deposit provides enhanced returns by utilizing forward premiums in addition to FCNR interest rates.
Returns may vary based on market conditions and prevailing interest rates.

Online Mode:

Contact your branch or Relationship Manager to express interest in FCNR Platinum Deposit.
You’ll receive a process initiation link via SIB Mirror+.> Engagement Hub
Once authenticated, your application will be initiated and processed by the bank.

Offline Mode:

Visit your nearest South Indian Bank branch.
Submit the FCNR Deposit opening form and the Forward Booking Application (available on our website: Help Desk → Download Forms → NRI Banking Accounts).
Fund your deposit and complete documentation for forward contract initiation.

Download FCNR opening form
Download Application for forward booking

To view the latest interest rates,click here

Plan Your Returns
Use our FD Calculator to estimate your returns based on deposit amount, tenure, and interest payout frequency.