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Resident Foreign Currency - Resident Foreign Currency

RFC stands for Resident Foreign Currency

Account Opening
  • These accounts can be opened by returning NRIs/ PIOs to transfer balances held in NRE/ FCNR(B) accounts.
  • RFC accounts can be maintained in the form of current or savings or term deposit accounts where the account holder is an individual and in the form of current or term deposits in all other cases.
Finance

RFC accounts are permitted to be held jointly with the resident close relative(s) as defined in the Companies Act, 1956 as joint holder (s) in their RFC bank account on ‘former or survivor basis’. However, such resident Indian close relative, now being made eligible to become joint account holder shall not be eligible to operate the account during the life time of the resident account holder.

Credit

Proceeds of assets held outside India at the time of return can also be credited to RFC account.

Remittance

The funds in these accounts including the interest can be freely remitted overseas.


Click at the links below to know about ICICI Bank RFC accounts :


Other Account
  • Update your Contact Details regularly
  • Use Internet Banking
  • Transact regularly

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Safe Banking

Latest RBI Regulations

Master Circular on Non-Resident Ordinary Rupee (NRO) Account

Master Circular of instructions relating to deposits held in FCNR (B) Accounts

Deregulation of Interest Rates on Non-Resident (External) Rupee (NRE) Deposits

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Manage Your Money


Budgeting

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Preparing
financial plan

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Signals of
financial trouble

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Good habits of
personal finance

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Smart
Cybershopper

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Debit Card

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Credit Card

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Disclaimer :

The information on this webpage is not tax, legal or investment advice, and no member of ICICI Bank Group has given you any advice.
Nothing in this document is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, or a solicitation of any type.

Deposit Accounts

Fixed Deposit Rupee Accounts
Fixed Deposit Foreign Currency Accounts
Recurring Deposit Rupee Accounts



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