National Toll Free No1800 425 00 000
 
National Toll Free No1800 425 00 000

Resident Foreign Currency account for Returning Indians

Resident Foreign Currency account for Returning Indians

Eligibility

  • Account can be opened by returning Indians i.e. those Indians who were non residents earlier, and are returning now for permanent stay.

Salient Features

  • Account held in foreign currency.
  • RFC deposits are accepted in USD, GBP and Euro, Australian Dollar, Canadian Dollar, JPY, CHF, DKK and SEK.
  • Account can be opened by transfer of NRE/FCNR funds or by remitting foreign currency notes or travelers cheques.
  • Foreign currency assets held outside India and brought to India at the time of returning for permanent stay can be credited to RFC account.
  • Foreign currency received as pension or any other superannuation or other monetary benefits from the employer outside India can be credited to RFC account.
  • Foreign currency received or acquired when a person was resident outside India as gift or inheritance from a person resident outside India can be credited to RFC account.