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Frequently Asked Questions

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What is Rupee Advantage Plan (RAP)?

RAP is a FCNR deposit of 1 year 1 day upto 5 years payable in Rs. at the time of maturity. The return is based on the earning of 1 year 1 day upto 5 years FCNR deposit interest along with the forward premium of respective foreign currencies over rupee prevailing at the time of booking.

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What are the advantages of Rupee Advantage Plan?

Below are the advantages of Rupee Advantage Plan

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

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What is the Eligibility for FCNR deposit for booking RAP?

The tenure of FCNR deposit has to be 1 year 1 day upto 5 years only.

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Who can avail Rupee Advantage Plan?

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

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How does the RAP work?

  • The money is invested in USD/GBP/EURO/JPY/AUD/CAD and CHF denominated FCNR deposit.
  • This FCNR deposit earns interest as per prevailing 1 year 1 day upto 5 years, FCNR interest rates.

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