BBK India Highlights Limited-Time Opportunity for NRIs to Earn 6.5pc p.a on USD Deposits

23 Aug 2026

Non-Resident Indians (NRIs) based in Bahrain and the wider GCC can lock in interest of 6.50
% per annum on US dollar deposits while shielding their savings from currency volatility,
through BBK India’s FCNR(B) deposit scheme
Mr. Aqeel Ghaith, BBK Chief Private Banking Officer highlighted the advantages of the Foreign
Currency Non-Resident (Bank) FCNR(B) scheme offered by BBK India under the Reserve Bank
of India’s (RBI) temporary window, which remains open until 31 August, 2026.
Mr. Ghaith explained that the 6.50pc per annum rate on three-to-five-year deposits is “highly
competitive for a deposit maintained in US dollars. Because the Bahraini Dinar is pegged to
the US dollar, local expatriates can secure high yields without exposure to Indian rupee
exchange-rate fluctuations.”
“Both the principal and interest remain denominated in US dollars and are freely repatriable
as on date,” Mr. Ghaith said, adding that interest earned is “exempt from Indian income tax
as per existing tax laws” for qualifying non-residents. He noted that the agreed return remains
locked in for the deposit’s full term, even after the temporary RBI window closes.
To support comprehensive financial management, Mr. Ghaith outlined how the bank helps
NRIs balance their cross-border wealth across complementary account structures. NRE
accounts cater to foreign earnings with freely repatriable funds, whereas NRO accounts
manage local Indian income – such as rent, dividends, or property upkeep – with eligible
balances repatriable within prescribed annual limits.
“BBK helps clients select the appropriate account based on the source and intended use of
their money. For direct capital allocation, BBK assists clients with the required account setups
to access Indian equities, Demat services, and INR Mutual Funds platforms, making the
process more efficient while ensuring compliance with Indian foreign-exchange and
investment regulations. Additionally, eligible FCNR(B) and NRE term deposits can serve as
security for overdraft facilities in both India and Bahrain, providing access to liquidity without
requiring the depositor to close the investment prematurely,” he added.
BBK India also offers tailored home loans for NRIs purchasing property in India, with approvals
dependent on the applicant’s repayment capacity, credit profile, property valuation and
supporting documentation.