Women Savings Account

The RFC Fixed Deposit offers Non-Resident Indians (NRIs) an excellent way to hold foreign currency deposits in India. With attractive interest rates and the flexibility to manage funds in various foreign currencies, the RFC Fixed Deposit ensures both growth and security for your overseas earnings

Key Features of RFC Fixed Deposit

Convenience

  • Open a Fixed Deposit in four different foreign currencies.

  • Obtain tax exemption on interest earned by declaring Resident but Not Ordinarily Resident status.

  • Repatriate your money on bonafide purposes.

  • Shield your savings from currency exchange rate fluctuations.

    • Depositing money to your account

  • Deposit money brought back from abroad in a freely convertible foreign currency.

  • Move funds from your existing NRE or FCNR Account with other banks.

Investment Amount

Interest Rates

  • The current interest rates on our RFC Fixed Deposits are presented below:  

    Note:

  • Interest rates are subject to change from time to time

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  • Applicable fixed deposit interest rates will be given as on the date of receipt of the funds by the Bank

  • Note: As per the Terms & Conditions of Fixed Deposit Accounts of the bank, the penalty on premature closure of Fixed Deposits including sweep-in and partial closures has been fixed by the Bank at the rate of 1%. This will be applicable for deposits booked on or after 24th January 2011.
  • To Know More about current RFC Fixed Deposit Rates, click here.
Interest Rate

Most Important Terms & Conditions

  • *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.
Tenure

More About RFC Fixed Deposit

The following documents are required to open an RFC FD:

Photocopy of the Indian passport consisting of passport details and personal details of all applicants.

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Permanent Account Number (PAN) / Form 60 (in absence of PAN).

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Copy of Visa (Expired or Valid) and immigration stamps showing evidence of foreign stay for at least 1 year (last departure and arrival page).

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(Originals KYC documents need to be taken while submitting the request and branch staff will verify the same)

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RFC Fixed Deposits at HDFC Bank allow deposits in four foreign currencies, offer protection from exchange rate risks, and provide tax exemption on interest for certain resident statuses. Funds can be repatriated for Bonafide reasons and transferred from existing NRE/FCNR accounts.

RFC Fixed Deposits at HDFC Bank offer protection from exchange rate risks, tax exemption on interest for ‘Resident but Not Ordinarily Resident’ status, and repatriation of funds for Bonafide reasons. Deposits can be made in four major global currencies.

To apply for an RFC Fixed Deposit online at HDFC Bank, you can book it by providing written instructions and submitting the booking form at your branch, or you can book it via NetBanking. For NetBanking, navigate to Accounts > Transact > Open RFC FD, fill in the required details, and confirm.

Frequently Asked Questions

RFC Accounts can be opened by NRIs who returned to India on or after April 18, 1992, were residents outside India for at least 1 year prior to return, and are now permanently settled in India.

Interest accrued on RFC Fixed Deposit Accounts in India is tax-exempt upon declaration of ‘Resident but Not Ordinarily Resident’ status, protecting savings from exchange rate risks.

RFC (Resident Foreign Currency) Fixed Deposit Accounts are Bank Deposits in foreign currencies maintained by NRIs (Non-Resident Indians) upon their return to India. These deposits allow NRIs to retain their foreign earnings in the same currency, offering stability and protection against exchange rate fluctuations while earning interest.