Equitas Small Finance Bank has launched its Foreign Currency Non-Resident FCNR(B) Deposit and the Equitas Explorer Savings Account--two specialized offerings tailored to meet the evolving financial needs of Non-Resident Indians (NRIs) and seafarers respectively. With over 2,85,454 Indian seafarers and maritime professionals working across international waters (as per the Directorate General of Shipping, 2023) and more than 35.4 million NRIs worldwide, this dual product launch reflects Equitas SFB’s commitment to delivering flexible, secure, and tech-enabled banking solutions for India’s expanding global workforce.

Hedging currency is a fundamental need for most NRIs, and holding savings in dollars is a smart way to preserve and grow wealth across borders especially by securing favorable exchange rates. The bank’s FCNR (B) Deposit currently available in USD, offering NRIs a robust wealth management tool designed to grow global earnings with ease. FCNR (B) provides rewarding interest rates, tax-free interest income on earnings in India, and full repatriation of both principal and interest. With no foreign exchange risk, hassle-free renewals, and the ability to maximize FCNR earnings, Equitas FCNR (B) Deposit ensure seamless wealth growth for global customers without compromising on convenience, security, or regulatory compliance.

Equitas Small Finance Bank offers a range of banking products and services to customers with a focus on serving the financially unserved and underserved customer segments in India.