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Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Probably not. DICGC’s 2025 directions list balances held in FCNR accounts among the items excluded from banks’ deposit-insurance premium calculations. That is strong evidence that FCNR(B) deposits are not covered, including those offering a “special” rate. However, DICGC’s public consumer guide does not expressly name FCNR(B) deposits as uninsured, so this conclusion is an inference from its specific premium directions—not a verbatim consumer-facing ruling.
Does DICGC insure FCNR(B) deposits?
The best-supported answer is that FCNR(B) balances are outside DICGC deposit insurance. In its 2025 Master Directions on deposit-insurance premiums, DICGC lists “Balance held in FCNR Account” among items excluded from the premium calculation framework. This is the strongest FCNR-specific indication in the official sources reviewed.
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The qualification matters: the directions address the bank’s assessable premium base. DICGC’s consumer guide describes the general insurance rule and lists exclusions, but does not literally say “FCNR(B) accounts are uninsured.” The conclusion that they are not covered follows from the specific treatment in the premium directions.
Does a “special” interest rate change coverage?
There is no evidence in these sources that a promotional or special interest rate creates an exception to the FCNR treatment. A rate offer describes the return; it does not establish that the deposit category qualifies for insurance. The sources do not establish that any particular special-rate scheme changes DICGC eligibility.
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For a named offer, ask the bank to confirm the account’s exact classification and booking location, then ask DICGC whether that classification is covered. Do not rely on the word “deposit,” the rate label, or an advertised insurance ceiling as proof of eligibility.
Why the ₹5 lakh limit may not apply
DICGC’s public guide states a maximum of ₹5,00,000 per depositor per bank for eligible deposits, including principal and interest held in the same right and capacity. Eligible accounts at the bank’s branches are aggregated. The ceiling applies only to deposits that qualify; it does not make an excluded category eligible.
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Bank participation and product eligibility are separate questions. A bank may be part of the DICGC scheme while a particular deposit category is excluded from the insurance treatment. No separate numeric FCNR(B) insured limit is stated in the DICGC sources cited here.
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1Scan for outdated or missing drivers - takes under a minute2Repair Windows errors before they cause bigger problems3Fix the driver behind crashes, sound loss and screen glitchesWhat FCNR(B) means
FCNR(B) stands for Foreign Currency Non-Resident (Bank). The Reserve Bank of India treats it as a distinct foreign-currency deposit arrangement and includes FCNR(B) deposits in its scheduled commercial bank deposit-interest framework. That classification is relevant when checking a product’s terms; the fact that it is a bank deposit does not by itself establish DICGC cover.
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What to check before booking a special-rate offer
- Identify the exact product. Confirm with the issuing bank whether the offer is an FCNR(B) account and ask for the precise account classification in writing.
- Confirm the booking details. Check the bank, account type, booking location, and product terms; a headline rate alone does not answer the insurance question.
- Ask about cover directly. Request confirmation from the bank and DICGC on whether that precise classification is insured. Do not assume the ₹5 lakh ceiling applies.
- Recheck current terms. Regulatory directions and individual product terms can change, so verify them at the time you make the decision.
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