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Resident Foreign Currency

Resident Foreign Currency

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YES BANK's Resident Foreign Currency (RFC) Fixed Deposit allows Returning NRIs to book foreign currency funds at attractive interest rates and provides flexibility of converting the deposits to Indian currency at any given time in future.

Eligibility: An NRI returning to India and becoming a resident Indian is eligible to open RFC Deposit

key attractions

Multiple Currencies

Deposits can be maintained in 6 currencies - USD, GBP, EUR, JPY, AUD & CAD

Online RFC Booking

RFC deposits can be booked through YES Online

Anytime Currency Conversion to INR

Returning NRIs are free to convert foreign currency deposits to Indian rupees at their convenience

features & benefits

Higher Returns

Earn attractive returns on RFC Deposits

RFC Deposits offers high returns in foreign currency. For latest RFC rates, please click here

 

 

 

 

 

 

Note: Interest rates on RFC deposits are subject to change on the 1st of every month or as per the guidelines issued by the Reserve Bank of India from time to time

Fully Repatriable

Funds can be freely repatriated for bonafide remittances outside India through our banking channels

Freely Transferrable

Upon regaining NRI status, the balances in RFC accounts can be freely transferred to NRE/ FCNR deposits

Taxation

Income from interest on balances standing to the credit of RFC Fixed Deposits is subject to TDS as per the prevailing income tax rate on resident deposits

Other Benefits

View our host of other benefits

  • Funds held in an RFC Fixed Deposit and the interest earned are fully repatriable*

  • Our Net Banking and Mobile Banking facility offers you 24-hour access to your account while ensuring highest level of security
  • One view of your Savings Account, Fixed Deposits, and Mutual Funds with our Net Banking and Mobile Banking facility

  • Enjoy a host of banking services through Yes ROBOT, your 24*7 Personal Banking Chat Assistant.

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

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