Compare Kotak Mahindra Bank FCNR(B) Deposit and Axis Bank FCNR(B) Deposit using the controlling cost, balance, rate, tenure, liquidity, limits, eligibility and current first-party bank evidence for this product type.
Compare the two source-backed records without collapsing unlike conditions into a winner score.
Kotak NRI customers who want to retain foreign currency and can choose among USD, GBP, EUR, AUD and SGD term-deposit tenures.
Axis NRI customers who want to keep eligible overseas funds in USD, GBP, EUR, JPY, AUD or CAD rather than convert into INR.
littleden.blog · Comparison research sheet
Prepared 14 Sep 2026 · Source page: https://littleden.blog/compare-banking/kotak-fcnr-deposit-vs-axis-fcnr-deposit/
General product research only. Recheck the listed first-party sources before acting because product terms can change after the recorded review dates.
Each checkpoint reproduces the recorded product fields instead of assigning a winner. Read the condition, scope and missing-data state before treating a difference as useful to you.
Source review: September 10, 2026
Maintenance: Within the scheduled review window
2 attached sources. A review date is not a guarantee that terms have stayed unchanged.
Source review: September 10, 2026
Maintenance: Within the scheduled review window
2 attached sources. A review date is not a guarantee that terms have stayed unchanged.
The stored field wording is preserved. Product-type-specific evidence follows this generic comparison where deeper structured research exists.
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| Decision factor | Kotak Mahindra Bank FCNR(B) Deposit | Axis Bank FCNR(B) Deposit |
|---|---|---|
| Current rate evidence | Rates effective 1 September 2026 are currency-specific: at 1 year to under 2 years the reviewed table shows 4.00% USD, 4.00% GBP, 2.55% EUR, 4.35% AUD and 1.25% SGD for the displayed lower-value USD band. | Axis’s public rate hub states FCNR/RFC rates are effective from 4 September 2026; the engine keeps the currency table refresh-gated instead of copying an incomplete public snippet. |
| Currency / amount / tenure | FCNR term deposits are offered in USD, EUR, GBP, AUD and SGD for 1 to 5 years, subject to currency-specific quoting/availability. | FCNR is available as a term deposit for 1 to 5 years in USD, GBP, EUR, JPY, AUD and CAD. |
| Tax / repatriation / payout | Principal and interest are fully and freely repatriable; interest is tax-exempt in India under current FCNR treatment; interest is compounded at 180-day intervals. | Principal and interest are fully repatriable; interest is tax-exempt in India under current FCNR treatment; interest on terms over one year is compounded at 180-day intervals. |
| Premature withdrawal / liquidity | Minimum holding to earn interest is one year. Premature closure is allowed after the minimum period but pays the lower applicable/contracted rate less the currency-specific penalty shown by Kotak. | No interest is paid if closed before one year. Axis publishes currency-specific thresholds under which individual FCNR deposits can avoid a premature penalty; above those thresholds a penalty can apply. |
| NRI / PIO / OCI eligibility | Eligible NRI/PIO customers under Kotak FCNR/KYC rules. | Eligible NRI/PIO/OCI customers under Axis FCNR/KYC rules. |
| Deposit-state / funding rule | FCNR can be funded through eligible repatriable/NRE channels; its rate must remain attached to currency, amount band and tenure. | NRO funds cannot be used to create NRE/FCNR deposits; the selected currency/tenure and current treasury rate determine the contract. |
A useful comparison shows what can make either option unsuitable instead of averaging those conditions into a score.
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Reviewed September 10, 2026 · 2 attached first-party sources
Reviewed September 10, 2026 · 2 attached first-party sources