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FCNR Account |
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What is a FCNR Deposit?
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Are my FCNR Deposit funds repatriable?
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Are the funds in the FCNR Deposit account taxable? |
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What is the tenure of FCNR Deposit? |
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Is there a minimum amount requirement for the FCNR Deposit? |
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| Q. |
What is a FCNR Deposit? |
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The FCNR Deposit is a Foreign Currency Deposit that can be maintained in USD, GBP EUR, CAD and AUD |
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Account is held in the designated foreign currency thereby mitigating the risk of exchange rate fluctuations |
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This account can receive funds from abroad, Funds from other NRE / FCNR accounts, Foreign Currency, Refunds from House Building Agencies. |
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Are my FCNR Deposit funds repatriable? |
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Yes, both the principal and interest are freely repatriable. |
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Are the funds in the FCNR Deposit account taxable? |
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No, tax deduction at source doesnt occur on the interest earned. |
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What is the tenure of FCNR Deposit? |
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The tenure of the FCNR deposit ranges from 1 to 2 years. We offer USD deposits for a tenor of 3 years also. |
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Is there a minimum amount requirement for the FCNR Deposit |
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Yes, a minimum deposit amount of USD 5,000 (or equivalent in other currency) should be maintained. |
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*Conditions apply |
