Are you an NRI looking to invest your savings in a secure and profitable scheme? Look no further than the FCNR (B) Scheme introduced by RBI. With this scheme, you can invest your savings in Foreign Currency (FC) denominated deposits, with the exchange risk borne by the banks themselves. Take advantage of this opportunity and enjoy the benefits of higher interest rates and a range of eligible currencies.

Resident Foreign Currency – DRC is a type of bank account that can be maintained by residents of India who hold foreign currency. It is a special type of account that allows individuals to hold and manage their foreign currency earnings in India.

RFC-DRC account was introduced by the Reserve Bank of India (RBI) to provide individuals who are either returning to India after residing abroad or have foreign currency earnings, with a convenient way to hold and manage their foreign funds. The account allows residents to freely hold and transact in foreign currency, without the need for conversion into Indian rupees. With Union Bank of India, RFC deposits can be in designated currencies such as USD, GBP, EUR, JPY, CAD & AUD.

Resident Foreign Currency Fixed Deposit Receipt (RFC-FDR) is a type of fixed deposit account denominated in foreign currency that can be maintained by residents of India who hold foreign currency. It is a special account introduced by the Reserve Bank of India (RBI) to provide individuals with a means to deposit and earn interest on their foreign currency funds while residing in India. The RFC-FDR allows residents to keep their funds in foreign currency without the need for conversion into Indian rupees.

Open your Resident Foreign Currency Fixed Deposit Receipt (RFC-FDR) with Union Bank of India and enjoy the convenience of growing your funds without any hassles.