Get a combined benefit of a FCNR (B) deposit with Forward Cover, which results in the higher yield.
- FCNR (B) deposit tenor: 1 year and up to 5 years
- Forward contract tenor: 1 year and up to 5 years
- Minimum deposit:
- For tenor of 1 year: USD 2000, GBP 2000, EUR 2000, CAD 2000, AUD 2000, or JPY 200,000
- For tenor of above 1 year and up to 5 years: USD 2,50,000 or equivalent
- Forward contract can be booked for final return in INR, USD, GBP, EURO, CAD, AUD or JPY
- Forward contract booking charges will be applicable as per Bank’s charge structure and as applicable from time to time
- In case of cancellation of Forward Contract by the depositor, cancellation charges and exchange gain / loss has to borne by the depositor at prevailing rates
- If FCNR (B) deposit is closed before maturity, no penalty will be levied for premature withdrawal and applicable rate of interest will be as per terms and conditions governing FCNR(B) deposits.
To know more, please write to us at firstname.lastname@example.org