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Currency |
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- You can maintain the account in 4 foreign currencies:
US Dollars, Pound, EURO and Yen.
- The account can be opened in any convertible
currency. It would be converted into any of the
four currencies mentioned above as per your choice.
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Account
Operation |
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- You can maintain your RFC Fixed Deposits for:
- A minimum
period of 30 days
- Upto a
maximum of 36 months
- The minimum balance for your deposit is USD 1,000
or an equivalent in other currencies
- You can have a joint account with a Non-Resident
Indian(s)
- You can register nomination for this account
- You have the option of closing your Fixed Deposit
Account before the due date. (Please note it will
be subject to an interest rate of 1%)
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Repatriability
and Taxation |
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- The principal amount and interest earned are
fully repatriable.
- The deposits and interest are exempted from Indian
tax.
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