EEFC Current Account

To open an HDFC Bank EEFC (Exchange Earners Foreign Currency) Account, you typically need to follow these steps:

• Contact your HDFC Bank branch or relationship manager to express your interest in opening an EEFC Account. 

• Provide the required documents, which may include: 

  • Proof of identity (passport, Aadhaar card, PAN card, etc.) 

  • Proof of address (passport, utility bill, etc.)

  • Proof of business (import-export license, company registration, etc.) 

• Foreign Inward Remittance Certificate (FIRC) for the amount to be credited into the account 

• Fill out the account opening form and submit it along with the required documents. 

Once your application is processed and approved, your EEFC Account will be opened, and you will be able to start using it for foreign currency transactions.  

It's advisable to check with HDFC Bank for the most up-to-date and detailed requirements, as they may vary.

You can open an EEFC account in the following currencies:

• United States Dollar( USD )

• European Union ( EUR )

• Great Britan Pound ( GBP )

• Japanese Yean ( JPY )

• Swiss Franc (CHF )

• Singapore Dollar ( SGD )

• Canadian Dollar (CAD ) 

•  Australian Dollar ( AUD )

• United Arab Emirates Dirham ( AED )

• New Zealand Dollar ( NZD )

•  Swedish Kroner ( SEK )

• Saudi Riyal ( SAR )

• Hong Kong Dollar ( HKD )

• Thai Baht (THB )

• Kuwaiti Dinar (KWD ) 

• Norwegian Krone (NOK )

• South African Rand (ZAR )

• Denmark Krone ( DKK)

• Korean Won ( KRW)

• Russian Ruble ( RUB )

• Chinese yuan ( CNH)

RBI guidelines about mandatory balance conversions: In accordance with Reserve Bank of India's circular no. A. P. (DIR Series) Circular No. 12 dated 31st of July 2012, the balances outstanding in all EEFC / Diamond Dollar Account (DDA) and RFC (D) accounts as on last day of a Current month, shall be converted into Rupees by the Bank on the last working day of the succeeding month, if such balance is not utilised by the account holder before the last day of succeeding month. Such mandatory conversion by the bank on the last working day of the succeeding month will be done at the prevailing TT buying card rate.In case, the customer has booked Forward Contract/s for conversion of balances in these accounts at a future date which is falling beyond the last day of the succeeding month, such contracted amount shall be deducted from the eligible amount for the mandatory conversion.In case the customer has any payment to be made in the future from these accounts beyond the last day of the succeeding month then bank should be duly informed before 25th of the succeeding month in writing through Relationship Manager / Branch Manager for holding back the conversion to that extent. The customer needs to submit the underlying documents of such future transaction/s. This will be an on-going procedure till we receive revised instructions from Reserve Bank of India. * Conditions Apply

*The Most Important Terms and Conditions for each of our banking offerings features all the specific terms and conditions that govern their use. You must go through it thoroughly to fully understand the terms and conditions applicable to any banking product you choose.  

EEFC account is a non-interest bearing current account

If you have 100% foreign exchange earnings it can be credited to the EEFC account. However, this is subject to the condition that the sum total of the accruals in the account during a calendar month should be converted into Rupees on or before the last day of the succeeding calendar month after adjusting for utilisation of the balances for approved purposes or forward commitments. Refer RBI circular - A. P. (DIR Series) Circular No. 12 dated 31st of July 2012.