RESIDENT FOREIGN CURRENCY ACCOUNTS (Facility to returning Indians)
Returning Indians can also benefit from our Deposit schemes. They can open and maintain a Resident Foreign Currency account (RFC) to transfer balances held in NRE/FCNR accounts. Proceeds of assets held outside India at the time of return, can be credited to RFC account. The funds held in RFC accounts are free from all restrictions regarding utilization of foreign currency balances including any restriction on investment in any form outside India.
Rate of Interest:
Returning Indians may continue to hold, own, transfer or invest in foreign currency, foreign security or any immovable property situated outside India, if such currency, security or property was acquired, held or owned when resident outside India.
INVESTMENTS ON REPATRIATION BASIS:
INVESTMENTS ON NON-REPATRIATION BASIS:
INVESTMENTS IN IMMOVABLE PROPERTY