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NRIs looking to park your dollars? Ujjivan SFB offers 7.5%, DBS up to 5.6% on FCNR deposits

Ujjivan Small Finance Bank has announced an attractive interest rate of 7.5% on 3–5-year FCNR(B) deposits, following the Reserve Bank of India's relaxation of norms aimed at increasing foreign currency inflows. Meanwhile, DBS Bank India is offering up to 5.6% on similar deposits. This development is significant as it provides NRIs with more lucrative options for investing their dollar savings, reflecting the changing landscape of banking in India.