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Foreign Currency Non Resident Deposit
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Your FCNR deposit will be maintained in the following currency as specified / choose at the time of booking deposit. These are: USD, EURO, GBP, AUD and SGD currencies.
As per current guidelines, the principal amount as well as interest earned on FCNR deposit is exempted form Income tax in India.
Yes, the funds held in your FCNR (B) deposit are fully and freely repatriable (both principal and Interest).
In order to earn interest on your FCNR (B) fixed deposit, it needs to be kept for minimum of 1 year.
Learn all about NRI
Can NRIs Use UPI in India? Everything You Need to Know
A Guide to FCNR Deposits: Should NRIs Invest in Foreign Currency FDs?
NRI Fixed Deposits: Tax-Free Interest vs. Taxable Interest Explained
Step-by-Step Guide to Converting a Resident Account to an NRI Account
