FEATURES
- Preferential rates at the time of conversion, for more savings on costs
- Track funds through monthly statements.
- Retain foreign exchange earnings in the currency you receive the funds
- EEFC account is a non-interest bearing current account
- If you have 100% foreign exchange earnings it can be credited to the EEFC account. However, this is subject to the condition that the sum total of the accruals in the account during a calendar month should be converted into Rupees on or before the last day of the succeeding calendar month after adjusting for utilisation of the balances for approved purposes or forward commitments. Refer RBI circular - A. P. (DIR Series) Circular No. 12 dated 31st of July 2012.
With a choice of 21 currencies, I can deposit all my global earnings
You can open an EEFC account in the following currencies:
- United States Dollar( USD )
- European Union ( EUR )
- Great Britan Pound ( GBP )
- Japanese Yean ( JPY )
- Swiss Franc (CHF )
- Singapore Dollar ( SGD )
- Canadian Dollar (CAD )
- Australian Dollar ( AUD )
- United Arab Emirates Dirham ( AED )
- New Zealand Dollar ( NZD )
- Swedish Kroner ( SEK )
- Saudi Riyal ( SAR )
- Hong Kong Dollar ( HKD )
- Thai Baht (THB )
- Kuwaiti Dinar (KWD )
- Norwegian Krone (NOK )
- South African Rand (ZAR )
- Denmark Krone ( DKK)
- Korean Won ( KRW)
- Russian Ruble ( RUB )
- Chinese yuan ( CNH)
