| Eligible Applicants & Requisites | 1. Account can be opened by returning indians i.e those indians who were non residents earlier,and are returning now for permanent stay.
2. Account held in foreign currency.
3. Account can be opened by transfer of NRE/FCNR funds or by remitting foreign currency notes or travelers cheques.
4. Foreign currency asstes held outside india and brought to india at the time of returning for permanent stay can be credited to RFC account.
5. Foreign currency received as pension or any other superannuation or other monetary benefits from the employer outside india can be credited to RFC account.
6. Foreign currency received or acquired when a person was resident outside india as gift or inheritance from a person resident outside india can be credited to RFC account.
7. Accounts held in the form of savings or term deposits. |
| Facilities | 1. RFC deposits are accepted in USD,GBP and Euro currencies.
2. Rate of interest available in our website.
3. Term deposit can be opened with a minimum period of 1 year with a maximum period of 5 years.
4. Funds can be freely remitted abroad for approved purposes.
5. The funds in RFC accounts are free from all restrictions regarding utilization of foreign currency balances including any restriction in investment in any form outside india.
6. Forward exchange cover facility is available. |
