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Latest Questions

Q: Can proceeds of FCNR be withdrawn in foreign currency?

A: NRI can withdraw up to USD 2000/- in currency notes and balance in TCs or the entire amount in TCs/Drafts or TTs.

Q: Will the bank renew our NRE/FCNR deposits automatically?

A: Yes, provided automatic renewal instruction are given at the time of opening the deposit in which case, it will be automatically renewed for an identical period.

Q: Who can open RFC account?

A: A returning NRI who was resident outside India earlier and are returning now for permanent stay is permitted to open RFC account.

Q: What currency is the NRO term deposit maintained?

A: Your NRO Term deposit is maintained in Indian Rupees.

Q: Are my NRO term deposit funds repatriable?

A: Interest earnings can be repatriated. In addition to this, remittance/s up to USD 1 million per calendar year from balances in NRO accounts subject to payment of applicable taxes is allowed for any...

Q: Are my NRO accounts repatriable?

A: Dividend, interest, pension, rent and other current income credited to this account are repatriable. Interest earnings can be repatriated. Remittance/s up to USD 1 million per calendar year from...

Q: What is the tenure of NRE term deposit?

A: The tenure of the Term deposit ranges from - 1 to 5 years.

Q: What currency is the NRE term deposit maintained?

A: Your NRE Term deposit account is maintained in Indian Rupees.

Q: Can foreign currency notes be credited to an RFC account?

A: Yes. However, if the value exceeds or is equal to USD 5,000 they have to be declared in the currency declaration form.

Q: Which funds can be credited to RFC account?

A: Funds from the following sources can be credited to RFC accounts: * Sale/maturity proceeds of assets held abroad and income therefrom *Pension received abroad *Currency notes / TCs brought into...