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.
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