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Advantages | NRIAccount.com

FCNR Account » Advantages

  • Principal alongwith interest freely repatriable in the currency of your choice.
  • No Exchange Risk as the deposit is maintained in foreign currency.
  • Loans/overdrafts in rupees can be availed by NRI depositors or 3rd parties against the security of these deposits. However, loans in foreign currency against FCNR (B) deposits in India can be availed outside India through our correspondent Banks.
  • No Wealth Tax & Income Tax is applicable on these deposits.
  • Gifts made to close resident relatives are free from Gift Tax.
  • Facility for automatic renewal of deposits on maturity and safe custody of Deposit Receipt is also available
advantages of fcnr account NRI ADVANDAGES 

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