Foreign Currency Non-Resident (FCNR) Deposit

Bring home your savings from abroad tax free

The Foreign Currency Non-Resident (FCNR) term deposit account is a fully repatriable foreign currency term deposit account with currency options as allowed by the Reserve Bank of India. This account comes with zero tax deduction at source on the interest earned.*

  • Deposit can be held jointly by a Non-Resident Indian (persons of Indian nationality or origin) / by a Resident Indian close relative (Former or Survivor basis)
  • Flexibility in opening account in multiple currencies (US Dollars (USD), Pounds Sterling (GBP), Euro (EUR) & Japanese Yen (JPY)).
  • Multiple tenure options: Ranging from 1 to 5 years.
  • Hassle-free renewal: Automatic renewal of your principal and interest on maturity.
  • Easy movement: Principal amount and interest earned are fully repatriable.
  • Tax benefits: Interest earned is not taxable in India.

Terms & Conditions
FCNR deposits closed prior to the completion of one year do not earn any interest as per RBI regulations.

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