FCNR
(B) (Principal/Interest Repatriable)
The account can be opened by Individual NRIs, jointly
with another NRI, Foreign Nationals of Indian origin and
OCBs. These accounts are of term deposit nature available
in fixed terms of over 1 year to 5 years period. Presently
the deposits are accepted in 5 major currencies viz the
US Dollar, EURO, Great Britain pounds, Japanese Yen and AUD.
The maturity proceeds are totally repatriable.
The
account opening application form can be downloaded from
our website and is also available at our NRI desks at Bahrain/Kuwait/Dubai/Mumbai/Hyderabad. The completed form alongwith the support
documents as listed here under may submitted at any of
our counters.
The accounts can be opened by remittances from abroad or
by transfer of funds from your existing NRE/FCNR accounts.
It can also be opened by tendering Foreign currency or Travellers
cheque during the temporary visit to India.
- Specific
request on forward cover upto the maturity of the deposit
can be made to us to avoid the risk of foreign currency
flactuations.
- Freely
repatriable.
- Loans
/ overdraft can be availed by the depositor against pledge
of this deposit.
- No interest
payable if prematurely withdrawn within a year. 1% penalty
charged in case of premature withdrawal after a year and
also Additional Swap cost payable on all premature withdrawals
of USD.30,000/-( or equivalent) and above.
»
MINIMUM BALANCE* :
Type
of Account |
Balance |
| FCNR |
USD.
5000/-
( or its equivalent )/- |
»
NOMINATION :
-
Nomination facility available for bank deposits.
-
There can be only one Nominee for a deposit account
whether held singly or jointly.
-
The nomination details can be changed during the subsistence
of the account relationship by filling up the prescribed
form.
-
For more details Contact BBK Branches.
»
ELIGIBILITY & OPERATIONS :
- Non-Resident
Indians (sole or jointly with another Non-resident Indian).
»
SUPPORT DOCUMENTATION ON PROOF OF IDENTITY AND ADDRESS
:
Along with
the account opening form application, self attested copies
of following be forwarded to complete the formalities as
per the central bank ( viz Reserve Bank of India ) Know
your customer guidelines:
- PAN Card.
- Valid
Passport ( Copies of pages having the photograph. Siganature,
Address, Date of birth, Visa endorsement and place of
issue and expiry ).
- Original
Letter from Employer certifying the residential address
of applicant. Signature of the employee has to be attested
on the letter.
- Employee
Identity Card.
Note
: Mandatory to provide Permanent address and telephone number.
Click
here for Interest Rates
Click
here for Forms
Go
Up
|
