🗓️
Sameer Sharma
Backed by 30 years of SISA Group experience and a KYC-vetted local team.
Are you an NRI thinking about an FCNR(B) deposit? There is an important update. The special RBI FCNR(B) window is now expected to close for new deposits on 31 August 2026. Earlier, many people believed it would stay open until 30 September. Your bank may also have its own earlier deadline for forms, KYC, money transfer, or document checks. So do not wait until the last few days.
Is your Indian bank account, KYC record and document set ready to act in time?
This guide explains the practical steps NRIs should take before transferring funds, arranging attestation, sending documents from abroad, or relying on a local bank branch.
Important: This blog gives general information. It is not investment, tax, legal, or banking advice. Please check the latest rules, rates, and deadlines with your bank.
What is FCNR(B)?
FCNR(B) means Foreign Currency Non-Resident Bank deposit.
It is a fixed deposit for NRIs. The money stays in a foreign currency, such as US dollars, British pounds, euros, or another allowed currency.
It is different from an NRE or NRO account, which usually hold money in Indian rupees.
Because FCNR(B) money stays in a foreign currency, your deposit does not lose value because the rupee falls against that same currency. But you should still think about the currency you may need in the future.
Banks decide their own FCNR(B) rates. Rates can change based on:
The bank.
The currency.
The amount you deposit.
The number of years you choose.
The date you apply.
For example, SBI has advertised FCNR(B) rates of “7.25% p.a. onwards” from 1 April 2026. This does not mean every NRI or every bank gets the same rate.
Why your bank account may slow you down
You may be ready to put money in an FCNR(B) deposit.
But your bank may first ask you to fix an old account problem.
For example:
Your NRE or NRO account may not be active.
Your bank may have your old phone number or email.
Your address may be old.
Your passport or visa may be expired.
Your signature may not match the bank’s old records.
Your bank may ask for a signed form.
Your bank may ask for attested documents.
Your bank may ask you to send papers by courier.
This is why you should check your account and papers now.
Is your NRE or NRO account inactive?
Your NRE or NRO account may become inactive if you do not make any account activity for more than two years.
For example, if you do not send money, withdraw money, use a cheque, or make another account action for over two years, the bank may mark the account as inactive.
To start using the account again, the bank may ask you to update your KYC.
KYC means Know Your Customer. It is how the bank checks that your name, address, passport, and other details are correct.
RBI says banks should allow customers to update KYC at any branch. Some banks may also offer video KYC, where you speak to the bank on a video call.
But every bank may have a different process. Your bank may ask for:
A video call.
Documents uploaded online.
A signed form.
Documents sent by courier.
A visit to a branch.
A special document check.
Inactive account and KYC update are different
These two things are not the same.
Problem | What it means |
|---|---|
Inactive account | You have not used the account for more than two years |
KYC update | The bank needs your latest documents and details |
Banks also review KYC from time to time.
Customer type | Bank may update KYC at least |
|---|---|
High-risk customer | Every 2 years |
Medium-risk customer | Every 8 years |
Low-risk customer | Every 10 years |
Your bank decides which group you are in.
Can you update KYC from another country?
Sometimes, yes.
Some banks let NRIs do banking work from abroad. They may offer:
Online forms.
Document upload.
Video KYC.
Help through an NRI banking team.
Courier options.
Support through an overseas bank branch.
But some bank requests still need physical papers.
For example, ICICI offers online help for some banking requests. But some Demat account address changes need a physical form at a Demat branch. ICICI Direct also says some NRI Demat update forms must be signed and couriered to its office in Navi Mumbai.
This does not mean every NRI must visit India.
It means you should ask your bank:
“Can I do this from my country? If yes, what exactly do you need from me?”
Ask your bank these six questions today
Send these questions to your bank’s NRI team or your branch:
Are you still accepting new FCNR(B) deposits under the current RBI window?
What is the last date for forms, money transfer, and documents?
Is my NRE or NRO account active?
Is my KYC up to date?
Can I complete this work from my country?
Which documents, forms, and attestation do you need?
Copy this email to your bank
Subject: FCNR(B) deposit and account check
Dear [Bank Name / NRI Team],
I am an NRI living in [Country]. I want to check if I can open an FCNR(B) deposit or update my NRE/NRO account.
Please tell me:
Are you accepting FCNR(B) deposits under the current RBI window?
What is the last date for forms, documents, money transfer, and processing?
Is my account active?
Is my KYC up to date?
Can I complete this work from [Country]?
Which documents and forms do you need?
Do my papers need attestation, notarisation, or bank certification?
Do I need to send original papers or visit a branch?
Thank you,
[Your Name]
[Account Number, if you have it]
Check these documents before you send anything
Before you pay for a notary, visit an embassy, or send papers by courier, check that you have:
A valid passport.
A valid visa or residence permit, if your bank asks for it.
Proof of your overseas address.
PAN or Form 60, if your bank asks for it.
Your NRE/NRO account number and branch details.
The latest form from your bank.
Your current phone number and email.
A signature that matches your old bank signature.
Your bank may ask you to self-attest your documents. This means you sign each copy yourself.
Some banks may also ask for your documents to be checked by:
An Indian Embassy or Consulate.
A notary public.
Your overseas bank.
Another person or office accepted by your bank.
For example, Axis Bank lists several accepted people and offices for some NRI account documents. But you must check with your own bank first.
Before you notarise or courier anything
Get the free NRI Bank-Readiness Checklist
Our free checklist helps you check:
A simple “Am I ready?” score.
A ready-to-copy bank email template.
A document pack list you can tick off.
An attestation decision guide.
A courier and branch-submission checklist.
Get the Free Checklist
If your bank, property, family, or documents are connected to Surat or South Gujarat, you can also ask if SISA can help locally.
When SISA can help in Surat and South Gujarat
Sometimes you can finish everything online. In that case, you may not need local help.
But your bank may ask for:
Physical papers.
A branch visit.
A document receipt.
A corrected form.
Local follow-up.
Help after the bank asks for more documents.
SISA NRI Support helps with eligible document and bank follow-up work in Surat and select parts of South Gujarat.
What SISA can help with
Check if your bank branch is in our service area.
Help you understand the bank’s document list.
Submit documents at the right local branch, when needed.
Ask for a receipt or acknowledgement if the branch gives one.
Follow up with the branch.
Share updates with you.
What SISA cannot do
Tell you where to invest.
Give tax, legal, or banking advice.
Handle your money.
Sign forms for you.
Promise that the bank will approve your KYC or account.
Promise a bank rate or a fixed processing time.
What you should do today
Email or call your bank.
Ask if your account is active and KYC is up to date.
Download the free checklist.
If your bank needs physical papers or branch follow-up in Surat or South Gujarat, ask SISA if we can help.
Is your bank branch in Surat or South Gujarat?
Tell us:
Your bank name.
Your branch city.
What work you need help with.
Which country you live in.
Whether your documents are ready.
FAQs
What is the FCNR(B) deadline in 2026?
The special RBI FCNR(B) facility is reported to close for eligible fresh deposits on 31 August 2026. It was earlier expected to close on 30 September. Your bank may have an earlier deadline, so ask them today.
Can I open an FCNR(B) deposit from the UK, USA, Canada, or Dubai?
Many banks allow NRIs to start the process from abroad. But the steps depend on your bank, country, KYC status, and documents.
Can an inactive NRE/NRO account delay my FCNR(B) deposit?
Yes. If you have not used the account for more than two years, it may become inactive. The bank may ask you to update KYC before you can use it again.
Can I update NRI KYC online?
Sometimes. Your bank may offer online KYC or video KYC. But some requests may still need signed forms, attested papers, courier, or a branch visit.
Do my NRI bank documents need attestation?
Maybe. Some banks accept self-attested documents. Other banks may ask for a notary, embassy, overseas banker, or another accepted person to check them. Always ask your bank first.
Can SISA help with my bank work in Surat?
SISA may help with local document submission and branch follow-up for eligible cases in Surat and select parts of South Gujarat. We cannot promise bank approval or give investment advice.
