Union Smart Foreign Currency Deposit

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Union Smart Foreign Currency Scheme

Discover a better investment option designed exclusively for NRIs that guarantees them higher returns and shields them from exchange rate risks. While traditional schemes like NRE Rupee Term Deposits and FCNR (B) Term Deposits come with inherent drawbacks like exchange rate fluctuations and low interest rates respectively, our Union Smart Foreign Currency Scheme offers unparalleled advantages. Earn higher returns, safeguard against exchange losses, enjoy tax-free interest, and repatriate your maturity proceeds.

Say goodbye to potential depreciation and low-interest rates with our innovative deposit scheme.

Higher Returns: Earn superior returns compared to FCNR (B) deposits.
Exchange Loss Protection: Safeguard your investments from exchange rate fluctuations.
Tax-Free Interest: Enjoy the benefit of tax-free interest income as per existing norms.
Repatriation of Maturity Proceeds: Easily repatriate both principal and interest amounts.
Insulation from Exchange Depreciation: Book forward cover to mitigate possible exchange rate depreciation.
Minimal Eligibility Criteria: Open to Non-Resident Indians of Indian Nationality/Origin (NRI/PIO).
Convenient Period of Deposit: 12 months.

Frequently Asked Questions (FAQs)

Who is eligible to open an account under the Union Smart Foreign Currency Scheme?

What is the purpose of this scheme?

What is the deposit period for this scheme?

What is the minimum amount required to invest in this scheme?

Are the interest earnings taxable?

Can I repatriate the maturity proceeds?

Can I withdraw my deposit prematurely?

What happens in case of premature withdrawal?

Where can I open an account under this scheme?

What is the deposit receipt used for this scheme?

Union Smart Foreign Currency Scheme

Frequently Asked Questions (FAQs)

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