2023 2024 Student Forum > Management Forum > Main Forum

 
  #2  
3rd April 2016, 10:23 AM
Super Moderator
 
Join Date: May 2012
Re: State Bank Of India RFC Interest Rates

Resident Foreign Currency (RFC) Account of state bank of India is to park funds for those NRIs / PIOs who have returned to India for permanent settlement (Returning Indians)
This Account can be opened in USD, EURO or GBP. It can be opened either individually or jointly with any other person eligible to open RFC account
Both principal and interest are payable in foreign currency.

Hence, there is no exchange loss on principal and interest
RFC Account types permissible:
Term Deposit
Special Term Deposit

Resident Foreign Currency:

Resident Foreign Currency account (rfc ) (% p.a.) W.e.f 01st march 2016:
Maturity Period USD GBP EURO

1 year to less than 2 years 1.49 1.35 0.57

2 years to less than 3 years 1.84 1.73 0.8

3 years 1.94 1.76 0.83

Interest rates for RFC deposits with maturities of 1 to 2 years and 2 to3 years will stand at 4.21% and 3.52% respectively.


Quick Reply
Your Username: Click here to log in

Message:
Options




All times are GMT +5. The time now is 11:27 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
SEO by vBSEO 3.6.0 PL2

1 2 3 4