FCY Max

The HDFC Fixed Deposit Foreign Currency Account (FCY Max) offers a secure and high-interest savings solution for non-resident Indians (NRIs) and persons of Indian origin (PIOs) looking to invest their foreign earnings. With competitive interest rates and flexible tenures, this account allows you to grow your wealth in a foreign currency while enjoying the safety and reliability of HDFC Bank.

Key Features

Hedge Against Risk

  • Secure your NRE Fixed Deposit with a forward cover to manage foreign exchange risk.
  • The exact maturity value in the foreign currency is determined when booking.
  • Shield your deposit from exchange rate fluctuations.
  • You can secure a forward cover on an existing NRE Deposit or on a new FD.
Hedge Against Risk

Premature cancellation

  • You have the option to cancel the forward cover before maturity.
Premature cancellation

Repatriation

  • Repatriate both principal and interest upon maturity.
Repatriation

Investment amount

  • Start with a minimum of ₹25 lakh or its equivalent.
Investment amount

Your queries answered here 

FCY typically stands for Foreign Currency in context of banking. This term is often used in relation to accounts or services that deal with foreign currency transactions, such as foreign currency fixed deposits, foreign currency cash services, and foreign currency conversion fees.

FCY Max Fixed Deposit Accounts offer a hedge against foreign exchange risk by securing a forward cover, ensuring the maturity value in the foreign currency is determined at booking. They protect deposits from exchange rate fluctuations, allow premature cancellation of the forward cover, enable repatriation of principal and interest, and require a minimum investment amount of ₹25 lakh.

HDFC Bank’s FCY Max Fixed Deposits offer a unique blend of benefits for those looking to save in foreign currency. They provide a hedge against foreign exchange risk, allowing depositors to book a forward cover on their NRE Fixed Deposit. This means the maturity amount in foreign currency is predetermined at the time of deposit creation, ensuring protection from potential exchange rate fluctuations. The exchange rate applicable at maturity is also pre-fixed, offering certainty and security against adverse currency movements.

FCY Max Fixed Deposits are a type of fixed deposit account offered by HDFC Bank that allows you to benefit from high Indian interest rates while earning in foreign currency. This account is designed to cover foreign exchange risk and lock in returns for the depositor. 

You can start FYC Max Fixed Deposit with the minimum amount of   ₹25 lakh or its equivalent.