Resident Foreign Currency
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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
key attractions
FUNDS
Funds can be held in 6 currencies
FOREIGN CURRENCY
Flexibility of converting your foreign currency deposits into Indian rupees whenever required
IDEAL FOR NRI
Ideal for NRIs returning to India
features & benefits
bonafide remittances
Funds can be freely utilized for bonafide remittances outside India through normal banking channels
transaction
On regaining your NRI status, balances in RFC accounts can be freely transferred to NRE/ FCNR deposits
REACH
Our inter-city banking facility allows you to bank at any of our branches during your visit to India
other benefits
View our hosts of other benefits
View our hosts of other benefits:
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Flexibility of converting your foreign currency deposits into Indian rupees whenever required
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Funds to be held in 6 currencies - USD, GBP, EUR, JPY, CAD and AUD
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Funds held in an RFC Fixed Deposit and the interest earned are fully repatriable*
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Interest earned on RFC Deposits is subject to Tax deducted at source @10%
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Our internet banking facility offers you 24-hour access to your account while ensuring the highest level of security
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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.
* 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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