• Features
  • Eligibility
  • Documents
  • Fees & Charges

Ready to take the next step?

Frequently Asked Questions

What is High Yield Currency Plan (HYCP)?

HYCP is an investment option where in Forward Cover for 1 year is executed on NRE deposit thereby providing higher yield in FCY, irrespective of fluctuation in foreign currency.

Was this information helpful to you? Yes No

What are the advantages of High Yield Currency Plan?

  • Principal protected
  • Tax free
  • Fully repatriable
  • Have assured returns (in FCY) irrespective of the future movements in currency markets.

Was this information helpful to you? Yes No

What is the Eligibility for NRE deposit for booking HYCP?

The tenure of NRE deposit has to be 1 year only.

Was this information helpful to you? Yes No

Who can avail the High Yield Currency Plan?

HYCP can be opened singly by NRI's / PIO’s or jointly with NRI / PIO only.

Was this information helpful to you? Yes No

How does the HYCP work?

  • The money is invested in Rs. denominated NRE deposit.
  • This NRE deposit earns interest as per prevailing 1 year NRE interest rates.
  • Additionally, at the time of booking the NRE, a Forward cover is also taken to convert the maturity amount of Rs. to USD/GBP/EURO/JPY/CAD/AUD/SGD/AED and CHF (as applicable) at a given rate (Forward Rate) thereby yielding better returns.

Was this information helpful to you? Yes No

Related Products