Depending on market conditions, booking an FCNR deposit with Forward Cover may be better than NRE Deposit. Contact your relationship manager to know more details.
Features & Benefits
Why choose this product:
- Hedge your foreign exchange risk on your Fixed Deposits
- Book a forward cover for tenure of 1,2,3,4 or 5 years
- Book cross currency forwards
- Premature withdrawal allowed (subject to terms & conditions)
- Earn higher yield than your normal FCNR Deposit / NRE Deposit
- Repatriate the proceeds on maturity
- Simplified documentation
- Book a forward contract on your foreign currency deposit for a tenure ranging from 1 to 5 years.