EEFC Account
Benefits
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Eligibility
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Documentation
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• Savings Account • Special Savings Account • Life Plus Senior Citizen Services • Fixed Deposit • Security Deposits • Recurring Deposits • Tax-Saver Fixed Deposit • Young Stars • Child Education Plan
• Bank @ Campus • Salary Account • Advantage Woman Savings Account • EEFC Account • Resident Foreign Currency (Domestic) Account • Privilege Banking • No Frills Account • Outward Remittance • Freedom Savings Account • Advantage Deposit • Family Banking • New Pension System
• Bank @ Campus • Salary Account • Advantage Woman Savings Account • EEFC Account • Resident Foreign Currency (Domestic) Account • Privilege Banking • No Frills Account • Outward Remittance • Freedom Savings Account • Advantage Deposit • Family Banking • New Pension System
EEFC Account
EEFC Account
Indian exports have surged over the last decade owing to an unprecedented boom in sectors like software, biotechnology, gems, jewellery, textiles etc. As a result of this, the volume of inward remittances has also increased significantly. To shield the firms engaged in regular export and import from the exchange rate fluctuations RBI has allowed parking of foreign currency by exporters in an account designated as Exchange Earners Foreign Currency Account (EEFC). EEFC accounts are Current Accounts held in foreign currency with authorized dealers of foreign exchange in the country.
