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RFC Term Deposit
Repatriation
Freely Repatriable
RFC Term Deposit
Currency of deposit
Currency
USD, GBP
Deposit Tenure
12 months to 36 months
Interest & Taxation
Interest Rate
Rate as advised by Bank from time to time as per stipulated guidelines and will be displayed on the website
Taxation
Exempt till individual continues to be ‘Resident but not ordinarily resident’. Thereafter TDS is required to be deducted @10% plus surcharge as applicable
RFC Term Deposit
Who can open?
NRIs (other than a person resident in Nepal and Bhutan) which provides an opportunity for tax planning in India
Joint Account
Permitted
Nomination
Facility available
PRODUCTS YOU MAY LIKE
RFC-Term-Deposit
