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What’s in store for you –

More benefits than ever before

Banking Benefits

  • Convert at any time by transferring to your Current or Savings Account

Account Benefits

  • Retain foreign exchange earnings in the currency you receive the funds

Transaction Benefits

  • Stay updated on your transactions with free monthly account statements

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Additional Benefits

Wondering if you are eligible?

You can open an RFC Domestic  Current Account if you are: 

  • Resident Indian Individual
  • If you are a new customer, you need to first open a Current or Savings Account with the Bank.
  • This is an individual level account and cannot be jointly held with other account holders.
  • Currently Partnership, Proprietorship, HUF and Minors are not eligible to open such accounts
RFC Domestic Account

Know more about RFC Domestic Current Account

Important Instructions

  • In accordance with Reserve Bank of India, the balances outstanding in all EEFC / Diamond Dollar Account (DDA) and RFC (D) accounts – as on the last day of a Current month – will be converted into Rupees by the Bank on the last working day of the succeeding month.
  • If the account holder does not wish to happen, they need to utilise the balance before the last day of succeeding month.
  • Such mandatory conversion by the bank will be done at the prevailing TT buying card rate.
  • If customer has booked Forward Contract/s for conversion of balances in these accounts at a future date (beyond last day of the succeeding month), the Bank will deduct this contracted amount from the eligible amount for the mandatory conversion.
  • If customer has any payment to be made in future from these accounts beyond the last day of the succeeding month, they need to inform the Bank before 25th of the succeeding month in writing. The customer needs to submit the underlying documents of such future transaction/s.
  • This will be an on-going procedure till the Bank receives revised instructions from Reserve Bank of India.
Contactless Payment

Frequently Asked Questions

An RFC Domestic account offers hassle-free foreign currency account management, preferential rates at the time of conversion, and easy tracking of funds through monthly statements or NetBanking. It also provides convenience with facilities like online banking.

  • Hassle-free foreign exchange transactions.

  • Easy management of foreign currency funds. 

  • Preferential rates for conversion.

  • Convenient tracking of funds through statements and NetBanking. 
     

An RFC Domestic account offers hassle-free foreign currency account management, preferential rates at the time of conversion, and easy tracking of funds through monthly statements or online banking