Terms & Conditions

1. RFC deposit can be held as TERM DEPOSITS for periods from 12 months up to 60 months.
   
   
2. RFC deposits of 12 months up to 60 months will enjoy the same interest rates as FCNR DEPOSITS (No interest will be paid for premature payment before 12 months).
   
   
3. The amounts in RFC accounts are freely repatriable for the bona-fide purposes of the NRI
   
   
4. No permission of Reserve Bank is required for opening or transferring RFC funds abroad
   
   
5. Funds may be held in foreign currencies - USD, GBP, JPY, Euro, CAD and AUD
   
   
6. RFC funds can be freely drawn in Indian Rupees for use locally.
   
   
7. For going abroad again, an NRI can freely use this money and also have the accounts re-designated as FCNR and NRE ACCOUNTS just as they were before 'RETURN to India'.

For further details, please contact the Bank of Baroda Branch nearest to you.