FEATURES
- Retain foreign exchange earnings in the currency you receive the funds
- Convert at any time by transferring to your current or savings account
- Enjoy preferential rates at the time of conversion and hence savings on your cost
- Track your funds through monthly statements or through logging into NetBanking
- Open your RFC Domestic account in three different currencies – USD / Euro / GBP
- Easy banking with facilities like NetBanking, PhoneBanking and MobileBanking that allow you to check your account balance, pay utility bills, or even stop cheque payments via SMS
- In accordance with Reserve Bank of India's circular no. A. P. (DIR Series) Circular No. 12 dated 31st of July 2012, the balances outstanding in all EEFC / Diamond Dollar Account (DDA) and RFC (D) accounts as on last day of a Current month, shall be converted into Rupees by the Bank on the last working day of the succeeding month, if such balance is not utilised by the account holder before the last day of succeeding month. Such mandatory conversion by the bank on the last working day of the succeeding month will be done at the prevailing TT buying card rate.
- In case, customer has booked Forward Contract/s for conversion of balances in these accounts at a future date which is falling beyond the last day of the succeeding month, such contracted amount shall be deducted from the eligible amount for the mandatory conversion.
- In case customer has any payment to be made in future from these accounts beyond the last day of the succeeding month then bank should be duly informed before 25th of the succeeding month in writing through Relationship Manager / Branch Manager for holding back the conversion to that extent. The customer needs to submit the underlying documents of such future transaction/s.
- This will be an on-going procedure till we receive revised instructions from Reserve Bank of India.
Best place to park foreign earnings and convert as needed
