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 Online Services |
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 Foreign Currency Deposit Scheme
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Eligible Depositors All individual Indian Residents will be allowed to open such account. However, the facility will not be available to corporate/partnership firm/trusts, HUF etc. registered / based in India.
Currency of the account
Account will be maintained in GBP, USD and EURO Currencies.
Nature of Account
Fixed Deposit for a period of 1 month (minimum) 3 months, 6 months and 1 year (maximum).
Minimum amount of Deposit
Minimum amount of deposit will be as follows : USD - 5000/- GBP - 5000/- Euro - 5000/-.
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Rate of Interest (% p.a.)
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Period
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USD
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GBP
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EURO
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1 Month
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1 month LIBOR + 25 bps
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1 month LIBOR + 25 bps
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1 month LIBOR + 25 bps
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3 Months
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3 months LIBOR +25 bps
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3 months LIBOR +25 bps
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3 months LIBOR +25 bps
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6 Months
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6 months LIBOR + 50 bps
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6 months LIBOR + 50 bps
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6 months LIBOR + 50 bps
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1Year
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1 year LIBOR + 50 bps
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1 year LIBOR + 50 bps
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1 year LIBOR + 50 bps
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* Above rates will be valid upto 30.04.2004 .
Branches designated for opening account
Our Paris, Hongkong, Singapore, London and New York branches will be the designated branches for opening the proposed accounts.
Free Remittance Facility
Free remittance facility for remitting funds to the Accounts opened with our designated branches.
Pre-mature withdrawal facility in case of Fixed Deposit
Premature withdrawal facility will be available to the depositor. In case of premature withdrawal, interest will be paid as follows :
• No interest to be paid in case deposit is withdrawn before 1 month from the date of deposit.
• 20 bps less than the LIBOR Rate on the date of deposit applicable for the period the deposit has remained with the Bank.
Remittances may be effected through any of our Authorised Dealer Branch. You may contact our nearest branch for guidance.
Annexure A
Form in which the applicant should submit to the designated branch of an Authorised Dealer in support of the request for remittance under the Scheme
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Application cum Declaration
(To be completed by the applicant)
Application for purchase of foreign exchange
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I Details of the applicant
• Name …………………………..
• Address…………………………
• Account No……………………..
• PAN No………………………….
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