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Notice

FOREIGN CURRENCY DEPOSITS

  FCNR Deposit RFC Fixed Deposit FCY Max
Who can open a deposit A Foreign Currency Non-Resident Fixed Deposit can be opened by an individual NRI (other than Individuals of Bangladesh/Pakistan nationality) to invest their foreign exchange earnings to earn higher returns. This deposit provides protection against foreign currency exchange risk with guaranteed returns. A Resident Foreign Currency Fixed Deposit can be opened by NRIs who have returned for permanent settlement after being resident outside India for a continuous period of not less than one year; to enjoy the flexibility of converting foreign currency deposits into Indian rupees whenever required. Depending on market conditions, booking an NRE deposit with Forward Contract may be better than FCNR Deposit. Contact your relationship manager to know more details.
Who can be a
joint holder
Deposit can be held jointly by a Non-Resident Indian (persons of Indian nationality or origin) / by a Resident Indian (Former or Survivor basis) Account can be held jointly by eligible Returning NRI Can be held singly or jointly as per NRE Deposit booking pattern.
Currency in which
deposit is denominated
US Dollar (USD), Great Britain Pound (GBP), Euro (EUR), Japanese Yen (JPY), Australian Dollar (AUD), Canadian Dollar (CAD) US Dollar (USD), Great Britain Pound (GBP), Euro (EUR) & Japanese Yen (JPY) Indian Rupees (INR)
Repatriation Principal and interest are fully repatriable Funds are repatriable for bonafide purposes Principal & Interest are fully repatriable
Minimum Deposit Amount
CCY Fresh Add-on
USD 1000 1000
GBP 2500 1000
EUR 2500 1000
JPY 750000 750000
AUD 1000 1000
CAD 1000 1000
No limit INR 25,00,000/-
Interest Rates Click here Click here Contact your relationship manager for same
Overdraft facility Avail an Overdraft in NRO
Current/Savings A/c upto 70% of the FCNR
Deposit
Avail an Overdraft in Resident
Current/Savings A/c upto 70% of the
Fixed Deposit
Available
Tenor Min. 1 year 
Max. 5 years
Min. 7 Days
Max. 3 years
Min. 1 year
Max. 10 years 
Interest Payment Mode Half Yearly
On Maturity (compounded half yearly)
Half Yearly
On Maturity (compounded half yearly)
On Maturity
Taxation Interest earned is exempted from Tax in India Interest earned is exempted from Tax in India provided Resident but Not Ordinarily Resident (RNOR) status is held as per the Income Tax Act Consult your Tax Advisor
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  Fixed Deposit Rupee Accounts