NRI Services - FCNR Deposit with forward cover

Now book forward cover on FCNR (B) Deposit to earn returns in Indian Rupees (INR).

Features of the facility:

• FCNR (B) deposit can be booked along with the forward contract in 6 international currencies USD / GBP / EURO / JPY/ AUD/ CAD. (FCNR currencies)
• Deposit a minimum of SGD 100,000 or INR 3,600,000/-.
• Deposits can be booked for a period minimum 1 to maximum 3 years.
• Maturity proceeds will be credited to your NRE account
• If the FCNR (B) deposit is closed before one year no interest will be paid and Forward contract cancellation charges will be levied.
• To begin with we also accept New Zealand, HongKong, Signapore Dollar and UAE Dirham. These currencies would be converted to any of the above acceptable FCNR currencies to book deposits. The bank can help you to book forward on this to convert the maturity proceeds to either in INR or to the currency other than the FCNR currencies.

Please note: Rates and Yields offered are provisional and subject to change at any time without prior notice. Please contact your Branch or Relationship Manager to confirm the yield before actual placement of funds.

For more information on booking or documentation Contact us