Axis Bank offers NRIs a resident foreign currency term deposit. Be sure that you fulfil all criteria for Resident Foreign Currency Term Deposit eligibility. Be sure to read all details before you can apply for the Resident Foreign Currency Term Deposit eligibility.
Individuals eligible for a Resident Foreign Currency Term Deposit
- Citizens of India or PIOs who have been non residents for a continuous period of not less than one year have become resident in India on or after 18 April, 1992
- Citizens of India or PIO who returned to India prior to 18 April, 1992; and they have specific licence from RBI to hold RIFEE account
- If the person once again goes abroad and becomes non resident then the balance available in RFC account can be repatriated abroad or the accounts can be converted into NRE or FCNR accounts