Indian Bank - Resident Foreign Currency Account


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Here is a boon even after you return to India

Account can be opened by the NRI on return to India for permanent settlement.
Account held in foreign currency
Accounts can be opened by transfer of NRE/FCNR funds or by remitting foreign currency notes or travellers cheques
Proceeds of assets held outside India at the time of return can be credited to RFC account.
Accounts held in the form of Savings/Fixed Deposit accounts. For latest interest rates pls. refer to "interest rates" on home page.
Funds can be freely remitted abroad for approved purposes
Pension, rentals and other monetary benefits received from abroad in favour of the account holder can be credited to this account.
The funds in RFC accounts are free from all restrictions regarding utilisation of foreign currency balances including any restriction on investment in any form outside India.
Forward Exchange cover facility is available.

Last Updated July 26, 2007