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- NRI Pro Foreign Currency Deposit
Flexible Options for Every NRI
Safe, convenient, and rewarding NRI Pro deposits
Low Minimum Deposit
Attractive Returns
No Capital Risk
Hedge FX Risk
NRI-Pro Foreign Currency Deposit
Are you an NRI and looking to invest and earn higher returns than Fixed Deposits? Axis Bank offers the NRI Pro Foreign Currency deposit. Through this, you can invest in an NRE Deposit linked forward cover product designed to earn high yields in foreign currency. With the NRI Foreign Currency Deposit you get a low minimum deposit along with attractive interest rates with added advantage of rising exchange rates. With this, there is no capital risk involved as money is invested in Fixed Deposit.
Features & Benefits
Hedge exchange rate fluctuations
Use the locked-in exchange rate to convert rupee funds into foreign currency at the end of the tenure and get higher returns
Get attractive returns on your investments
Attractive interest rates with the added advantage of rising exchange rates
Invest safely without any capital risk
No capital risk involved as money is invested in Fixed Deposit
Plan ahead with a Forward Contract
Forward can be booked on existing Fixed Deposit or fresh Fixed Deposit
Choose tenure option as per your requirements
Tenure options from 3 months to 5 years
Start off with a minimum deposit
From as low as ₹5,00,000 or equivalent
Earn tax-free interest
Interest earned not taxable in India
Easily repatriate funds
Earnings are fully repatriable on maturity
The following individuals are eligible to open NRI Pro Foreign Currency deposit:
NRI (Non Resident Indian)
An Indian citizen residing outside India for the purpose of:
- Employment, studies, business or vocation
- Individual posted in UN organisation or official deputed abroad by Government of India or public sector undertakings
- Indian nationals who may be Mariners or working on oil rigs or foreign registered airlines
PIO (Person of Indian origin)/ OCI (Overseas Citizen of India)
An individual holding a Foreign passport (other than Pakistani and Bangladeshi) who:
- Has held an Indian passport at any point of time
- Parent or their grandparent was Citizen of India by virtue of the Constitution of India or India Citizen Act 1955
- Is a spouse of an Indian Citizen or spouse of PIO
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