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Axis Bank offers NRIs the NRI Pro Foreign Currency deposit. Through this foreign currency deposit, 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. Another benefit of NRI Pro Foreign Currency Deposit also includes combines attractive interest rates with added advantage of rising exchange rates. With this plan, there is no capital risk involved as money is invested in Fixed Deposit. The Forward can be booked on existing Fixed Deposit or fresh Fixed Deposit.
Use the locked-in exchange rate to convert rupee funds into foreign currency at the end of the tenure and get higher returns
Attractive interest rates with the added advantage of rising exchange rates
No capital risk involved as money is invested in Fixed Deposit
Forward can be booked on existing Fixed Deposit or fresh Fixed Deposit
Tenure options from 3 months to 5 years
From as low as Rs. 5,00,000 or equivalent
Interest earned not taxable in India
Earnings are fully repatriable on maturity
