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2nd February 2018, 09:05 AM
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Join Date: Aug 2012
Re: Corporation Bank FCNR

Corporation Bank is a public-sector banking company headquartered in Mangalore, India. The bank has a pan-Indian presence.

As you Asking for the Information About the Fixed Deposit/Re-investment Fixed Deposit of the Corporation Bank the Information is given below

Currency in which A/c is opened
At present FCNR can be opened in AUD, CAD ,USD ,EUR, GBP

Joint Account
Joint A/c with another NRI is permitted
In case of joint a/c with resident the A/c can be on FORMER OR SURVIVOR basis
ONLY

Minimum Deposit
Deposits can be opened in designated currencies with a minimum deposit amount of-AUD 1000, CAD 1000, USD 1000, EUR 1000 and GBP 1000

Period of Fixed Deposit
Minimum 1year- Upto 5 Years

Nomination

Nomination facility may be extended to the NRE account-holder . Nomination can be made by the depositor/s or account holder/s in favour of only one individual.

INR Loan against FD to the a/c holder
PERMITTED, For arriving at the amount of loan and margin rupee equivalent may be calculated at the prevalent Notional rate or market rate whichever is lower on the date of release of loan.

Last edited by pawan; 2nd February 2018 at 09:07 AM.


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