An RFC Fixed Deposit allows you to hold your deposit in any one of four currencies (USD, Pounds Sterling, Euro, Japanese Yen). You can convert your deposit in Indian Rupees as and when you require.
 |
Protect your deposit from exchange rate risks by holding the monies in one of four foreign currencies.
|
|
TDS (Tax Deducted at Source) exemption can be claimed on Interest earned basis declaration of RNOR (Resident but Not Ordinarily Resident) status, if eligible, at the start of the financial year.
|
|
Funds can be repatriated for bonafide reasons by the account holder.
|
|
