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Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Clear out junk files and repair common Windows errorsFree Scan →Scan for outdated or missing drivers - takes under a minuteDriver Scan →Probably not. DICGC’s 2025 directions list balances held in FCNR accounts among items excluded from the base used to calculate insured banks’ deposit-insurance premiums. That is strong evidence that FCNR(B) balances are not covered, even at a bank that participates in DICGC. However, DICGC’s public consumer guide does not expressly say that FCNR(B) deposits are uninsured, so this conclusion should be understood as an inference from its specific premium-reporting treatment—not as a verbatim consumer-facing ruling. A promotional or “special” interest rate does not, by itself, establish an insurance exception.
Why FCNR(B) insurance is uncertain
FCNR(B) stands for Foreign Currency Non-Resident (Bank). The Reserve Bank of India treats it as a distinct foreign-currency deposit arrangement in its Master Directions – Interest Rate on Deposits.
DICGC’s general consumer guide says it insures deposits such as savings, fixed, current and recurring deposits, subject to exclusions. Its guide does not expressly name FCNR(B) deposits in that list. But DICGC’s 2025 Master Directions specifically include “Balance held in FCNR Account” among items excluded from the premium calculation framework for insured banks. Because that direction concerns the premium base rather than a direct consumer eligibility ruling, it is most accurate to say that the official treatment strongly indicates FCNR(B) balances are outside DICGC cover.
Does a special rate change the answer?
No evidence in DICGC’s cited guidance establishes that a special, promotional or unusually high interest rate creates an exception to the treatment of FCNR balances. The interest rate and the deposit’s insurance classification are separate issues: a rate offer does not establish that the balance qualifies for DICGC protection.
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For a specific offer, ask the bank to identify the exact account classification and confirm in writing whether the balance is treated as an FCNR(B) deposit. If the answer remains unclear, ask DICGC whether that precise classification is covered. Do not rely on an advertised rate, the word “deposit,” or the bank’s scheme membership as proof of product-level eligibility.
Why the ₹5 lakh limit may not protect an FCNR(B) balance
DICGC’s public guide states a maximum of ₹5,00,000 per depositor per bank for eligible deposits, including principal and interest, when held in the same right and capacity. Eligible accounts at the same bank are aggregated across its branches. This is a ceiling for deposits that qualify; it does not make an otherwise excluded category eligible.
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Bank participation and product coverage are therefore separate questions. A bank’s DICGC-insured status does not, on its own, establish that every kind of balance it accepts is insured. DICGC’s general limit and exclusions are set out in its Guide to Deposit Insurance.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What to verify before booking an FCNR(B) offer
- Issuing bank: Confirm which bank accepts the deposit and whether it participates in DICGC.
- Account classification: Ask whether the specific product is booked as an FCNR(B) account or under another deposit category.
- Booking location and terms: Confirm where the account is booked and review the product’s written terms; do not infer insurance treatment from the marketing name.
- Coverage confirmation: Request the bank’s written explanation and, if needed, ask DICGC about the exact classification.
DICGC’s 2025 directions list FCNR account balances as an excluded premium-base item; the reviewed DICGC sources do not state a separate numeric insured limit for FCNR(B) balances.
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