Key facts
What the official sources publish
Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.
Deposit typeResident Foreign Currency term deposit or special term depositView source
The Overview lists term deposit and special term deposit as the permissible account types.
- Source
- Resident Foreign Currency Account
- Page / section
- Overview
- Accessed
- 11 Aug 2026
- Confidence
- high
Published purpose and eligibilityFor NRIs or PIOs who have returned to India for permanent settlementView source
presents accounts as a place to hold funds for and returning to India for permanent settlement.
- Source
- Resident Foreign Currency Account
- Page / section
- Overview
- Accessed
- 11 Aug 2026
- Confidence
- high
Available currenciesUSD, GBP and EURView source
The Overview says an account may be opened in dollars, pounds sterling or euro.
- Source
- Resident Foreign Currency Account
- Page / section
- Overview
- Accessed
- 11 Aug 2026
- Confidence
- high
Available tenorsMinimum 1 year; maximum 3 yearsView source
The Features tab publishes a one-year minimum and three-year maximum for and deposits.
- Source
- Resident Foreign Currency Account
- Page / section
- Features
- Accessed
- 11 Aug 2026
- Confidence
- high
Minimum depositUSD 1,000, GBP 1,000 or EUR 1,000View source
Both the and descriptions set the minimum at 1,000 units of , or euro.
- Source
- Resident Foreign Currency Account
- Page / section
- Types of Accounts
- Accessed
- 11 Aug 2026
- Confidence
- high
Published currency ratesRates effective 15 Jul 2026 by tenor (USD/
The current rate table publishes , and euro percentages across the three available tenure buckets; this fact follows the table's currency order.
- Source
- Interest Rate
- Page / section
- Resident Foreign Currency Account rate table
- Accessed
- 11 Aug 2026
- Confidence
- high
Interest treatmentTDR interest is paid every 180 days; STDR interest compounds every 180 daysView source
distinguishes payout every 180 days from compounding every 180 days.
- Source
- Resident Foreign Currency Account
- Page / section
- Types of Accounts
- Accessed
- 11 Aug 2026
- Confidence
- high
RepatriationPrincipal and interest are fully repatriableView source
Both deposit-type descriptions state that principal and interest are fully repatriable.
- Source
- Resident Foreign Currency Account
- Page / section
- Types of Accounts
- Accessed
- 11 Aug 2026
- Confidence
- high
Premature withdrawalBefore 1 year: no interest; after 1 year: 1 percentage point below the lower of the actual-run-period rate or contracted rateEffective 15 Jul 2026View source
The rate page states no interest before one year and, after one year, a rate one percentage point below the lower of the applicable run-period or contracted rate.
- Source
- Interest Rate
- Page / section
- Premature withdrawals of Account
- Accessed
- 11 Aug 2026
- Confidence
- high
Holder modeIndividual or joint with another person eligible to open an RFC accountView source
The Overview permits individual holding or joint holding with another person eligible for an account.
- Source
- Resident Foreign Currency Account
- Page / section
- Overview
- Accessed
- 11 Aug 2026
- Confidence
- high
Published tax treatmentInterest treatment depends on Resident or RNOR status; SBI states qualifying RNOR interest is tax-free for the described two-year period, otherwise TDS applies under prevailing rulesView source
The Tax Implications tab describes the published RNOR tests and a two-year tax-free period for qualifying interest, with under prevailing rules in other cases.
- Source
- Resident Foreign Currency Account
- Page / section
- Tax Implications
- Accessed
- 11 Aug 2026
- Confidence
- high
Conversion after status changeMay be converted to an FCNR(B) or NRE account if the holder regains NRI statusView source
The Overview says the account can be converted to (B) or if the person regains status.
- Source
- Resident Foreign Currency Account
- Page / section
- Overview
- Accessed
- 11 Aug 2026
- Confidence
- high
Published funding routesNRE or FCNR(B) balances on return to India, eligible fresh overseas remittances, foreign-account cheques, and foreign notes or travellers cheques subject to declaration thresholdsView source
The Permissible Credits tab lists returning-customer or (B) balances, qualifying remittances, foreign-account cheques and declared foreign cash or travellers-cheque proceeds.
- Source
- Resident Foreign Currency Account
- Page / section
- Permissible Credits
- Accessed
- 11 Aug 2026
- Confidence
- high
Senior-citizen rateNot applicable: the reviewed NRI/foreign-currency deposit terms publish currency- and tenor-based rates and do not provide a separate senior-citizen uplift or rate band.View source
The complete rate tables list currency and tenor bands only; no senior-citizen rate or premium is published.
- Source
- Services — deposit interest rates
- Page / section
- Currency and tenor rate table
- Accessed
- 29 Aug 2026
- Confidence
- high
Benefits and features
- Holds returning residents' eligible funds in , or euro
- Principal and interest are stated as fully repatriable
- May be converted back to (B) or if status is regained
Eligibility
- The account is intended for eligible or returning to India for permanent settlement.
- Joint holding is limited to another person eligible to open an account.
- Tax treatment depends on the holder's Resident or RNOR status and should be checked against current tax rules.
Passing a listed condition does not mean the bank will approve an application.
Related official documents
SBI RFC Interest Rateofficial-rate-table · current · accessed 11 Aug 2026
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