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Ri Pro Deposit
Forward Contract for Resident Individuals
Low Minimum Amount
Multiple FCY Options available
Hedge Fx Risk
RI Pro Deposit -Forward Contract (FwC) for Resident Individuals
Do you have an Outward Remittance to be done under RBI’s ‘Liberalised Remittance Scheme (LRS)?
Are you worried about Currency Fluctuations and want to safeguard your Foreign Exchange Fluctuation Risk?
If the answer to the above questions is YES then Facility of Forward Contract (FwC) for Resident Individuals, is exactly what you are looking for.
Axis Bank offers, RI Pro Deposit. Through this, Resident Individuals can book forward contracts for up to a limit of USD 250,000 per Financial Year without any Underlying Documents up to a period of 12 months. Forward Contract will be backed by lien marking to the customer’s Fixed Deposit or Savings Bank Account Balance with 100% Cash Margin. Resident Individuals who wish to manage / hedge their Foreign Exchange exposures arising out of contracted/actual or anticipated outward remittances under the RBI’s ‘Liberalised Remittance Scheme’ (LRS) can opt for this product.
Features & Benefits
Blend of deposit & forward cover
Product combines the characteristics of Fixed Deposit/ Savings A/C and Forward Cover.
Hedge future forex exposure
Hedge Exchange rate fluctuation risk for your anticipated or contractual exposure at a later date for Outward Remittance under the RBI’s ‘Liberalised Remittance Scheme’ (LRS)
Locked-in forex rate for remittance
Outward Remittance is executed at a pre-fixed rate booked at the time of Booking the Forward Contract
Book forward on FD or savings balance
Forward Contract can be booked on New / Existing Fixed Deposit or even Savings A/C Balance.
Hedge future forex exposure
Hedge Exchange rate fluctuation risk for your anticipated or contractual exposure at a later date for Outward Remittance under the RBI’s ‘Liberalised Remittance Scheme’ (LRS)
Eligibility For RI Pro Deposite
Resident Individuals having Existing Fixed Deposits for a residual period of 7 days to 12 months, New to Bank Deposits for a tenure equal to or less than 12 months or Savings Bank Account Holders with required funds for fulfilling the cash margin requirements
Documentation For RI Pro Deposite
To know more about documents, please click here
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