FCNR Deposits
Enjoy attractive returns from a fully repatriable, zero tax liability FCNR Deposit account in various currencies. Protect your money from exchange rate fluctuations by maintaining your FCNR deposit in international currencies.
Features of FCNR Deposits
Principal and Interest amount earned from FCNR deposits are tax free in nature
No risk involved of exchange rate fluctuation
Attractive Interest rates Check Rates
Can be held jointly with NRI/PIO only
Freely repatriable and currencies available for FCNR deposit USD, EUR, GBP, JPY, AUD, CAD & CHF
Minimum Tenure: 1 year & 1 day, Maximum Tenure: 5 Years.
Nomination facility is available.
Overdrafts against FCNR deposits are available
No interest would be paid if the said deposit is closed in less than a year
The amount payable in case of premature withdrawal after one year but before the expiry of original maturity is as under:
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Rupee Advantage Plan
Earn higher returns with an FCNR Deposit combined with a forward cover in INR under the Rupee Advantage Plan. Get this plan and add on to the benefits of the FCNR deposit.
Features of Rupee Advantage Plan
No Capital risk as money is invested as Term Deposit ( FCNR)
No Exchange risk as the Maturity amount in INR is pre-fixed ir-respective of movement of currency involved.
Maturity amount fully and completely Repatriable
Higher Annualized return in comparison with NRE term deposit of a 5 year tenure(**)
Minimum ticket size for booking is USD 25,000 and 50,000 in respective currency for all other currencies in which FCNR is available.