Kalpakanidhi RFC Account

• 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.