Beti Bachao Beti Padhao



  • The account can be opened by Non-Resident Indians (NRI) and Overseas Corporate Bodies (OCB).
  • The account should be opened by the Non-Resident account holder himself and not by the holder of Power of Attorney in India.
  • These accounts are Term Deposit accounts with minimum maturity of one year. The maturity period ranges from one year to three years. The account will be maintained in Foreign Currency. You will be earning interest on the deposits in foreign currency only.
  • Opening of Account:
    • Remittance from abroad,
    • Proceeds of Foreign Currency notes/travelers cheques/ during the temporary visit of the account holder,
    • Proceeds of Draft/personal cheques,
    • Transfer from existing FCNR / NRE accounts of same person


Funds held in this account including interest earned thereon are fully repatriable.

Joint Account

Joint accounts can be opened by two or more NRIs and /or PIOs or by an NRI/PIO with a resident relative(s) on ‘former or Survivor’ basis. However ,during the life time of the NRI/PIO account holder, the resident relative can operate the account only as a Power of Attorney holder.

Tax Benefit

Income by way of interest earned on these deposits is exempted from Income Tax. Balances held in these accounts are free from Wealth Tax.

Nomination Facility

Nomination facility is available for FCNR(B) deposits.

Funding of Account

You can open FCNR deposit Account by:

  • Remittance from abroad,
  • Proceeds of Foreign Currency Notes,
  • Proceeds of Travellers Cheques / Personal cheques / Drafts,
  • Transfer from your existing NRE / FCNR account.


  • An NRI, who has stayed abroad continuously for at least one year, is permitted to maintain his investments in bank deposits, shares, securities, business and immovable properties abroad, for a period of 9 years even after his permanent return to India.
  • Eligibility to open a Resident Foreign Currency Account (RFC).
  • NRIs returning permanently, after a continuous stay of minimum one year abroad, can open Resident Foreign Currency Accounts with banks in India. NRIs returning after less than one year should obtain RBI's permission for opening such accounts.

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