Introduction
HDFC Bank's My Passion Fund is a flexible Recurring Deposit designed to help you accomplish your life-long goals and cherished dreams faster. You can choose the RD amount and frequency of your monthly deposits. Simply set your target and timeframe, your desired fund name, and start saving today!
Eligibility Criteria for NRI My Passion Fund
NRIs/PIOs with an NRO Account can set up a NRO My Passion Fund Account.
NRIs/PIOs with an NRE Account can establish an NRE My Passion Fund Account.
To be eligible, NRIs must have an active NRO/NRE Account to open an NRE/NRO Passion Fund Account respectively. Another key difference pertains to the tenure, in that the minimum tenure for NRO Passion Fund Accounts is six months, and that for NRE Passion Fund Accounts is 12 months.
NRIs/PIOs need to have an active net banking account linked to their NRO or NRE Accounts to open a My Passion Fund Account with HDFC Bank.
Yes, NRIs/PIOs holding NRO Accounts can open an NRO My Passion Fund account with HDFC Bank. They simply need to have an active net banking account linked to their NRO account to open and operate their NRO Passion Fund Account.