Key Features

Now earn higher returns in terms of INR with our Rupee Advantage Plan. All you need to do is open a FCNR deposit with us and book a forward cover in INR.

You can transfer funds in any convertible currency to a FCNR (B) deposit available in USD / GBP / EURO / JPY. At the time of booking the FCNR (B) deposit, a one year forward rate contract is entered into for delivery of INR on the maturity date of the deposit. Maturity proceeds are therefore paid out to you by credit to your NRE savings account with us.

• Book a forward contract on your FCNR (B) in USD / GBP / EURO / JPY deposit for a period of 1 year 1 day .
• Minimum deposit amount is USD 25,000 or equivalent in any of the above currencies
• Tenor: 1 year 1 day

• You can freely deposit funds received from abroad in any convertible currency through normal banking channels.
• You can deposit Traveller's Cheques or foreign currency you bring during your holiday, or any other visit to India, into your account.
• You can also deposit Interest / Maturity Proceeds of Government securities including National Savings Certificates, dividends of Unit Trust of India, provided these securities were purchased out of funds from NRE / FCNR Accounts.
• Funds from a local source are permissible only if the funds are repatriable.
• Rupee funds need to be converted to FCY before booking the FCNR deposit.

You can freely move funds along with interest earned, anywhere outside India without the prior approval of the Reserve Bank of India. This movement of funds is subject to guidelines laid down by the RBI.

The principal amount and the interest earned on an FCNR Deposits are exempt from Income Tax in India. Your balance in this account does not attract any Wealth Tax either.

Please note: Rates and Yields offered on the Rupee Advantage Plan are provisional and subject to change at any time without prior notice. Kindly contact your Branch or Relationship Manager to confirm the yield before actual placement of funds

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