Resident Foreign
Currency Term
Deposit

Axis bank offers NRIs who have returned to India or have been residing in India continuously for more than one-year Resident Foreign Currency Term Deposit. With the RFC Term Deposit, you can avail high returns on foreign currency deposits, without foreign exchange conversion risk. Additionally, the balance in your account including the interest earned will remain fully repatriable.

The following individuals are eligible to open an NRE/ NRO Savings Account:


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

NRI Easy Guide

NRI Easy Guide