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Qualified Individuals NRI

About International Finance Services Centre Banking Unit (IBU)

IBU Branch of YES BANK is located in Gujarat International Finance Tech-City (GIFT), which is established as a globally benchmarked financial service hub. YES BANK is the first banking entity to start operations in the GIFT City, with the launch of IBU in Oct 2015. IBU is the only full-fledged foreign branch of YES BANK apart from our Representative Office in Abu Dhabi (ADRO). Along with Savings & Fixed Deposit in foreign currency (FCY) and other liability products, IBU also offers trade offerings, External Commercial Borrowings (ECBs), FCY Loans, FCY Bonds etc. to eligible entities.


Who is a Qualified Individual?

  • ‘Qualified Individual’ (‘QI’) means an individual who is a person residing outside India. This includes a Non-Resident Indian (NRI), Person of Indian Origin (PIO) or Foreign National with a net worth of USD 1 million or more in the previous financial year.

  • Qualified Individual can hold accounts in the form of FCY fixed deposit or interest bearing FCY savings account.


Benefits of opening a Qualified Individual Account / Fixed Deposit with YES BANK IBU:

  • Earn attractive interest rates on Savings and Fixed Deposits held in FCY.

  • Opportunity to open FCY Fixed Deposits with a minimum tenure of as low as 7 days and upto 5 years.

  • Maintain account in permitted foreign currencies viz; in USD, GBP, AED, EUR and SGD.

  • Proceeds in the account are freely repatriatable and interest earned is exempted from tax in India.

  • Convenience of transferring money from overseas bank account or an existing NRE/FCNR account held in banks in India.


Eligibility Criteria for opening a FCY Savings Account/ Fixed Deposit as a QI:

In order to be eligible as a QI, customer should have a net worth equivalent to USD 1 million or above in the preceding financial year. The networth may be determined in such manner as specified by the Authority and amended from time to time.

The prescribed eligibility criteria will have to be maintained by the customer at the time of onboarding and throughout the lifecycle of the accounts maintained with the Bank


For information on how to calculate net worth Click Here

For *Schedule of charges for FCY Savings Account of Qualified Individual Click Here

For *Interest Rate for FCY SA and FD of Qualified Individual  Click Here

For IBU correspondent Bank details Click Here

*FCY Savings Account, Fixed Deposit interest rates and schedule of charges are subject to change at the sole discretion of YES BANK


IBU Branch Address:

YES Bank Limited

IFSC Banking Unit,

Unit No - 901, Block 13 B, Hiranandani Signature Building,

GIFT SEZ, GIFT City, Gandhinagar

Gujarat, India- 382355

key attractions

High returns

Earn attractive interest rates* on your FCY Savings account

Tax exemption

Interest earned on your QI Savings account and Fixed Deposits will be exempt from tax in India


Minimum tenure of QI FCY Fixed Deposit is 7 days vis a vis 12 months applicable for NRE Fixed deposits

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