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:
- FCNR(B) deposit will be placed in USD only
- Forward contract can be booked for final return in INR, 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