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RFC
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Eligibility
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RFC
Eligibility
All Resident Indians (Individuals) having either a current or savings account with HDFC Bank can open a RFC Domestic Account.
If you are a new customer to the bank, you will first need to open either a current or savings account with HDFC Bank.
This is an individual level account and cannot be jointly held with other account holders.
Currently Partnership, Proprietorship, HUF and Minors are not eligible to open such accounts.

Account Operation

Depending on the Foreign Currency in which you wish to operate the account, you will have to initially deposit the following amount:US Dollar = 250 | Great Britain Pound = 200 | Euro = 250
You must maintain an Average Quarterly Balance (AQB) of the same amount.
The following is chargeable if you are not able to maintain the AQB.US Dollars = 10 | Great Britain Pound = 7 | Euro = 10
As per the finance (No 2) Act 2004, all fees & charges mentioned in the Tarriffs, Charges or Fees Brochures will attract Service Tax @10% & Education Cess @2% of the service tax amount effective 10th September 2004. The same will appear as separate debits in the statements.
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