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FCNR Fixed Deposit Account

What is FCNR Fixed Deposit Account
Reap good returns on foreign earnings and enjoy powerful benefits.



What are FCNR Fixed Deposits?

  • FCNR Fixed Deposits are an excellent investment option for NRIs looking to retain their money in foreign currency and earn good returns on foreign currency earnings.

Why choose FCNR Fixed Deposits?

  • FCNR Fixed Deposits earn higher tax free returns on your foreign currency than local deposits. Also, you can avoid any foreign currency exchange risk, ensuring the highest and guaranteed returns on your earnings

Features & Benefits

  • Flexibility in opening account in multiple currencies: USD, GBP, EUR, JPY, CAD, AUD, SGD, HKD and CHF.
  • Low Deposit amount : USD 1000, GBP 1000, EUR 1000, CHF 1000, JPY 200,000, HKD 10000, SGD 2000, CAD 2000 and AUD 2000*.
  • Multiple tenure options: ranging from 1 to 5 years.
  • Hassle-free renewal: automatic renewal of your principal and interest on maturity.
  • Easy movement: Principal amount and interest earned are fully repatriable.
  • Tax benefits: Interest earned is not taxable in India.
  • Attractive loan options: loans up to 85% of your deposit at attractive interest rates.
  • Quick processing: Electronic Deposit Confirmation Advise (E- DCA) on your e-mail ID within 1 working day (if you have subscribed for account statement via e-mail).

* The deposit would be booked with the net amount received after deducting appropriate charges / fees as may applicable at the time of remittance / clearance of the cheque.

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RELATED FORMS

  • New account opening form for stand alone OR FD opening request form

GENERAL FORMS

Mandate Holder Applications
Nominee Applications

General

Who is an NRI?
Who is a PIO?
What type of bank accounts can be opened by NRIs / PIOs?
 

Account opening

How can I open an NRE Savings account?
What are the documents that I have to submit to open a NRE Savings Account?
In case I debit my NRE account and open an FCNR Fixed Deposit, would there be any charges?
 

FCNR

Are my FCNR Fixed Deposits funds repatriable?
Is interest earned on FCNR account taxable in India?
What is the tenure for which I can open an FCNR Deposit?
Can I have a Nominee for my FCNR Deposits?
Can I have a joint account holder for this account?
 

Account usage

What will happen to my fixed deposits once it matures and I forget about it?
Will I get a Cheque Book and an ATM-cum-Debit Card when I open an FCNR /NRE/NRO/RFC Fixed Deposit?
How can I renew my FD?
How can I repatriate funds from my NRE/FCNR/RFC account?
 

Account closure

Can I close my FCNR Deposits prematurely?
How can I request for closure of Fixed Deposits?
 

Mandate facility

Can I appoint a mandate holder for my FCNR/RFC/NRE/NRO Fixed Deposits accounts?
 

Nomination facility

How can I register a nominee on my account?
How can I cancel a nominee in my account?
How can I update a new nominee on my account?
How can I declare for “No nominee” on my account?
Can I nominate more than one person for one account?
Can I register different nominees for different accounts?
If I register a nominee when I open the account, do I have to fill in the nomination every time I make a new deposit?
 

Loan against deposit

Can I get loans against my FCNR Deposits?
 

DNC

How do I register myself under “Do not call”
I have already registered under “Do not call”. However, I have been receiving promotional calls/ emails from you.
My country is not reflecting in the drop down menu present on the site. What should I do?
 

What can you do next?

Apply Now

Repatriable: Transferable (funds) from India to foreign countries
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