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Bank Smart, Travel Free—Equitas Explorer Account and FCNR Deposits Debut for NRIs

Updated: July 22, 2025 10:28

Image Source : Groww
Equitas Small Finance Bank has introduced two new products aimed at enhancing its NRI banking portfolio—Foreign Currency Non-Resident (FCNR) Deposits and the Explorer Account. These offerings are designed to provide tax-free returns and flexible banking solutions for Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs).
 
Key Highlights:
  • - FCNR (B) deposits available in US Dollars only, with tenures ranging from 12 to 36 months
  • - Interest rates up to 6.00% per annum for deposits above USD 100,000
  • - Interest earned is tax-free in India and fully repatriable
  • - Explorer Account offers seamless digital access and tailored services for frequent travelers and global professionals
Eligibility & Benefits:
  • - Open to NRIs, PIOs, and Seafarers with a minimum deposit of USD 1,000
  • - Joint holding allowed with other NRIs
  • - No senior citizen rates applicable; premature withdrawal penalties apply
Outlook:
With these launches, Equitas aims to deepen its engagement with the global Indian diaspora, offering secure, high-yield options that align with international lifestyles and financial goals.
 
Source: Equitas Bank Official Website

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