NRE Fixed Deposits
 

Returning Global Indian

Resident Foreign Currency (RFC) Fixed Deposit

YES BANK's Resident Foreign Currency (RFC) Fixed Deposit allows the returning Global Indian to earn attractive returns on foreign currency funds and the flexibility of converting your foreign currency deposits into Indian rupees whenever required

Features & Benefits:

  • Funds to be held in 6 currencies - USD, GBP, EUR, JPY, CAD & AUD
  • Funds held in an RFC Fixed Deposit and the interest earned are fully repatriable
  • Funds can be freely utilized for bonafide remittances outside India through normal banking channels
  • On regaining your NRI status, balances in RFC accounts can be freely transferred to NRE/ FCNR deposits
  • Our internet banking facility offers you 24-hour access to your account while ensuring the highest level of security
  • Our inter-city banking facility allows you to bank at any of our branches during your visit to India

Interest:

  • Interest rates for RFC deposits are subject to change on the 1st of every month and as per the guidelines issued by the Reserve Bank of India from time to time.

Taxation:

  • Interest earned on RFC Deposits is subject to Tax deducted at source @ 10%

Note:

  • The deposit would be booked with the net amount received after deducting appropriate charges / fees as may applicable at the time of remittance / clearance of the cheque.

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