NSE: 
Banner Image
Resident Foreign Currency (Domestic) Account

Resident Foreign Currency (Domestic) Account – RFC (D) Account

  • Features & Conditions
  • Eligibility Norms
  • Permissible currencies for opening Account
  • Documentation
  • Interest
  • Minimum/Maximum Balance
Nomination facility - Available
 
Anywhere Banking - Transaction related RFC (D) will be handled only at the base branch (i.e. branch where account was opened).
 
Special Condition
Conversion of account balance: - As per RBI guidelines, the sum total of all the credits received in RFC (Domestic) account during a calendar month, less amount utilised, should be converted into Indian Rupees (crystallise) on or before the last working day of the succeeding calendar month after making adjustments for forward commitments (as in the case of EEFC & DDA accounts)
  • All resident Indian individuals can open an RFC Domestic account. 
  • For new customers, branch need to first open a current or savings account with Bank.
  • This is an individual level account and cannot be jointly held with other account holders.
  • Currently Partnership, Proprietorship and HUF are not eligible to open such accounts.
  • Account in the name of minor can be opened by legal/natural guardian. 
  • Pound Sterling (GBP).
  • US Dollar (USD).
  • EURO (EUR).
 

As applicable for resident current account (individuals)

The account shall be maintained in the form of Current Account and shall not bear any interest.

There shall be no ceiling on the balances in the account