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FCNR

FCNR

Type of Account
  • Fixed Deposit/Re-investment Fixed Deposit
Currency in which A/c is opened
  • At present FCNR can be opened in AUD, CAD ,USD ,EUR, GBP
Joint Account
  • Joint A/c with another NRI is permitted
  • In case of joint a/c with resident the A/c can be on “FORMER OR SURVIVOR” basis ONLY
Minimum Deposit
  • Deposits can be opened in designated currencies with a minimum deposit amount of-AUD 1000, CAD 1000, USD 1000, EUR 1000 and GBP 1000
Forward Cover
  • Available
Repatriability
  • YES
Period of Fixed Deposit
  • Minimum 1year- Upto 5 Years
Rate of Interest
TDS on Interest
  • NO TDS
INR Loan against FD to the a/c holder
  • PERMITTED, For arriving at the amount of loan and margin rupee equivalent may be calculated at the prevalent Notional rate or market rate whichever is lower on the date of release of loan.
Foreign currency Loans to A/c Holder
  • PERMITTED
Foreign currency Loans to third party
  • PERMITTED
Nomination
  • Nomination facility may be extended to the NRE account-holder . Nomination can be made by the depositor/s or account holder/s in favour of only one individual.
Terms & condition
  • APPLICABLE

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