Resident Foreign Currency (RFC) Account / Fixed Deposit Account

Karnataka Bank provides Resident Foreign Currency (RFC) Savings Bank Account for its esteemed NRI Customers who have permanently returned and settled from abroad to India for enable them to receive their Foreign earnings /monetary benefits out of their Asset held outside India.

  • Available in 10 currency USD/EUR/GBP/JPY/AUD/CAD/CHF/SGD/SEK/HKD.
  • Deposit period available from 1 month to 5 year.
  • Account can be opened by NRIs on return to India for permanent settlement.
  • Can be opened by transfer from NRE/FCNR account or by remitting foreign currency notes or travellers cheques.
  • Funds in RFC account are free from all restrictions regarding utilization of foreign currency balances, including any restriction on investment in any form outside India.
  • Nomination facility is available.
  • NRI who has returned and settled permanently in India since return from abroad ( Resident outside India for a continuous period of not less than 1 year prior to your return).
  • Photocopy of the pages containing passport details and personal details of all applicants.
  • Copy of Permanent Account Number (PAN) / Form 60 (in absence of PAN).
  • Copy of valid visa and immigration stamps showing evidence of foreign stay for at least 1 year.