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Resident Foreign Currency (Domestic) Account
Do you want to save money while buying foreign currency for travelling abroad? You can buy traveller’s cheques, foreign currency in cash and foreign currency demand draft for your expenses overseas. If you are a frequent traveller, you may not want to go through the hassles of buying foreign currency every time you travel abroad.
The Reserve Bank of India has now made it easier for you to access foreign currency by permitting a foreign currency account (domestic) for resident Indians. In line with RBI guidelines, ICICI Bank has come up with a scheme that helps you get rid of all your forex worries. You can park your foreign currency in ICICI Bank under RFC (D) account. Non-interest bearing Resident Foreign Currency (D) (RFC (D)) with ICICI Bank can be maintained in four major currencies (USD, EURO, GBP and Japanese Yen)
Benefits of ICICI Bank RFC (D) Account
- Saving in commission charges, as you can withdraw foreign currency when you want without any conversion charges
- Facilitates your payments for foreign travel expenses
- No ceiling on deposits
- Convenient and value-added banking
- Protection to your money from valuation risks due to exchange rate fluctuations
- No ceiling on the maximum amount of deposit in the account
For more details on ICICI Bank RFC (D) Account, please visit any ICICI Bank branch.
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