FCNR Deposit
Note:

  • Minimum tenor required to book the FCNR Deposit is 12 months and maximum tenor 60 months.
  • No interest will be paid if the FCNR Deposit is cancelled prematurely before 1 year.
  • No Penalty will be levied on premature closure of FCNR Fixed Deposit after 1 year.
  • Effective 01st Dec'06, the interest rate applicable for premature closure of deposits (all amounts) will be lower of :
    • The base rate for the original/contracted tenor for which the deposit has been booked     OR
    • The base rate applicable for the tenor for which the deposit has been in force with the Bank.
  • Minimum foreign currency amount required to book the FCNR Deposit is as under :

    Currency Minimum Amount (initial) Minimum Amount (add-on)
    USD 1000 1000
    GBP 2500 1000
    EURO 2500 1000
    JPY 750000 750000
    AUD 1000 1000
    CAD 1000 1000

  • The INR amount entered for booking the FCNR Deposit will be converted to the desired foreign currency (in case of JPY the amount will be rounded up to the lower decimal).
  • The FCNR Fixed Deposit booking requestthrough Netbanking will be processed within 2 working days except Saturday, Sunday, Indian public holidays, International currency holidays. In case the FD is not booked within the prescribed TAT (i.e. 2 days from the date of receiving the request) then, after completion of 2 working days, customers can write to us at [email protected]
  • If the debit NRE Savings bank account does not have sufficient balance as on the date of submitting the request and booking the deposit, the FCNR Fixed Deposit booking request would be rejected.
  • The FCNR Deposit can be booked from the NRE savings accounts ONLY. The request will not be processed if the customer selects PIS/PMS account as the debit / credit account.
  • After 2 working days, post processing of Fixed Deposit request, customers can view Fixed Deposit advice in the Fixed Deposit Summary details on the net banking page under NRE customer id.
  • The FCNR (B) deposit interest rates are subject to change and the interest rate prevailing on the day of processing the FCNR FD booking will be applied. The Forex rates mentioned under 'View Forex Rates' on the net banking screen are the indicative rates for today and the FCNR Deposit will be booked as per the prevailing forex rates at the time of processing the request. Please note that the interest rate and the forex rate at the time of processing the FCNR booking request will be applicable and NOT the rates at the time of receiving the request.
  • The FCNR Fixed Deposit will be booked in the similar account holding pattern as that of the debit account number, i.e. your NRE Savings Account.
  • Applicable taxes towards conversion of INR to FCY will be deducted from the NRE account. The account holder is required to maintain sufficient funds towards recovery of applicable taxes. In case of in sufficient funds towards recovery of such taxes, the request will be rejected.
  • Half yearly interest payout option will not be available for FCNR FD booked for tenor of 1 year.
  • HDFC Bank computes interest on its FCNR deposit accounts based on the actual number of days in a year (i.e 366 days in a leap year and 365 days in a non-leap year).
  • Applicable interest rates will be given as on the date of receipt of the funds by the bank. When booking Fixed Deposit through NetBanking, please note the actual interest rate being applied on the "Confirm" screen. This screen appears before you confirm your request for opening a new Fixed Deposit
  • To modify maturity instructions / updation of nominee or any further queries, you are requested to visit the nearest HDFC Bank branch.


    • DECLARATION
    1.I/ We have read and understood the Terms and Conditions governing the opening of an account with HDFC Bank and those relating to various services including but not limited to (a) ATMs (b) Phone Banking (c) Net Banking (d) Bill PayFacility.

    2.I/ accept and agree to be bound by the said Terms and Conditions including those excluding/limiting the Bank's liability. I/We agree that the Bank can at its sole discretion, amend any of the services/facilities given in my account either wholly or partially at any time by giving me at least 30 days notice and/or provide an option to me to switch to other services/facilities. I agree that the Bank may debit my account for service charges as applicable from time to time.

    3.I/ We hereby declare that I am/we are Non Resident Indian(s) of Indian origin. I/We understand that the above account will be opened on the basis of the statements/declarations made by me/us, and I/we also agree that if any of the statements / declarations made herein is found to be not correct in material particulars you are not bound to pay any interest on the deposit made by me/us.

    4.I/ We agree that no claim will be made by me/us for any interest on the deposit(s) for any period after the date(s) of maturity of the deposit(s). I/We agree to abide by the provisions of the Foreign Currency Non-Resident (External) Account Scheme. I/We hereby undertake to intimate you about my/our return to India for permanent residence immediately on arrival.

    5.I/ We shall not make available to any person resident in India, foreign currency against reimbursement in Rupees or in any other manner in India.

    6. I/ We would confirm that all debits to my / our accounts for the purpose of investment in India and credits representing sale proceeds of investments in India are covered either by general or special permission