Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
Account typeNon-interest-bearing current account
Source 1Eligibility and holding patternA resident Indian may open the account singly or jointly with another person resident in India
Source 2Supported currenciesUS dollar (USD), pound sterling (GBP), and euro (EUR)
Source 3Minimum balanceUSD 500, GBP 250, or EUR 500, according to the account currency
Source 4Cheque and card accessNo cheque book or ATM card
Source 5RepatriabilityAccount balance is freely repatriable
Source 6Monthly rupee conversionTotal monthly credits less amounts used must be converted into Indian rupees by the last working day of the following calendar month, after forward-commitment adjustments
Source 7Permissible creditsSpecified foreign-currency receipts including eligible overseas services, honoraria, gifts, lawful obligations, unspent travel exchange, certain ADR/GDR disinvestment proceeds, and eligible foreign-currency life-insurance proceeds
Source 8Permissible withdrawalsListed current-account uses such as travel, gifts, employment, emigration, overseas maintenance, medical care and studies, plus specified FEMA-permitted capital-account transactions
Source 9Benefits and features
- Retains eligible foreign-currency receipts in USD, GBP or EUR
- Balance is described as freely repatriable
- Supports specified current-account and capital-account uses under the published conditions
Eligibility
- The account is only for persons resident in India and may be held singly or jointly with another resident.
- It earns no interest and provides neither a cheque book nor an ATM card.
- Net monthly credits are subject to the published next-month rupee-crystallisation deadline.
- Each receipt and withdrawal must fit the page's eligible category and applicable FEMA or RBI rules.
Passing a listed condition does not mean the bank will approve an application.