This deposit plan enables entire maturity proceeds i.e. principal and interest fully repatriable in Foreign Currency (USD, GBP, EURO, YEN, AUD & CAD) at a place of your choice.
Maintain your account with a minimum balance of USD 1000 or equivalent.
Can be held jointly with other non-resident individuals.
Deposits in Pound Sterling, US Dollar, Canadian Dollar, Australian Dollar, EURO and Japanese Yen are accepted.
Deposits/interest fully repatriable.
Deposits can be placed in the form of term deposits for a minimum maturity period of one year and for a maximum maturity period of five years.
Deposits in CAD, AUD and Japanese Yen are accepted for maturity period of 1 to 3 years
The principal and interest earned on your FCNR (B) Deposit account is tax exempted.
Nomination facility available.
Transfer of funds from existing NRE accounts to FCNR(B) accounts and vice versa, of the same account holder, is permitted.
Loans against deposits subject to a maximum of Rs.20 lacs in Indian Rupees and in foreign currency available on easy terms.
Automatic Renewal on due date for a minimum maturity of 1 year period at the prevailing rate of interest in the absence of fresh instructions to ensure that your money grows timely.
Acceptance & execution of Standing Instructions.
Addition and Deletion of names of account holders, in case of joint accounts is permitted.
Premature withdrawal for the purpose of renewal at better interest rate prevailing currently is permitted without penalty clause subject to conditions.