NRE Plus Deposits

This product is similar to FCNR Deposit .But unlike FCNR ,in this product the closure proceeds are converted into INR at pre-determined rates on maturity of the deposit by facilitating the customer with a Forward contract rate.
The deposit can be booked for 366 days,36 months and 60 months.
The deposit is Tax-free.
Maturity proceeds are fully repatriable.
2 variants available: USD-INR & JPY-INR
Minimum deposit amount allowed for USD-INR variant-

For 366 days- USD 2000 or equivalent

For 36 months-USD 25000 or equivalent

For 60 months-USD 25000 or equivalent

Minimum deposit amount allowed for JPY-INR variant-

For 366 days-Rs.25,00,000 or equivalent

For 36 months- Rs.25,00,000 or equivalent

For 60 months- Rs.25,00,000 or equivalent

Forward Contract is booked on maturity amount of each deposit at the time of opening the deposit.