• Reinvestment plan with interest-compounded half-yearly
  • Fixed deposit for periods ranging from above 1 year to 3 years
  • Compounding of interest half-yearly - yields higher effective returns

General Features

  • A person of Indian Origin who returns to India for permanent settlement after a stay of minimum period of one year abroad is eligible to open RESIDENT FOREIGN CURRENCY (RFC) account.
  • Accounts can be maintained in GBP (British Pound), USD (American Dollar), EURO, AUD, CHF, CAD and JPY.
  • Assets acquired or held at the time of return are eligible for credit to RFC account.
  • The balance can be repatriated or credited to NRE or FCNR(B) accounts, if the account holder becomes an NRI subsequently.
  • Balance in the accounts can be used for bona fide expenses like traveling expenses for going abroad, children’s education abroad etc.
  • Loans are not permitted against RFC account.