RFC Account:
By opening a Resident Foreign Currency Account (RFC Account) customers can maintain funds as Term deposits in various foreign currencies even after they have returned to India. Both the principal and the interest can be remitted outside India. The tenures range from 1month to 36months.
Advantages Of RFC Account:
• Attractive interest rates
• Maintain accounts in 2 foreign currencies- USD & GBP
• The account can opened and funded in any convertible currencies. It will be converted into one of these currencies as per the customers choice
By opening a Resident Foreign Currency Account (RFC Account) customers can maintain funds as Term deposits in various foreign currencies even after they have returned to India. Both the principal and the interest can be remitted outside India. The tenures range from 1month to 36months.
Advantages Of RFC Account:
• Attractive interest rates
• Maintain accounts in 2 foreign currencies- USD & GBP
• The account can opened and funded in any convertible currencies. It will be converted into one of these currencies as per the customers choice