FEATURES

CURRENCY	US Dollars, Pound Sterling, Japanese Yen and Euro
PERIOD	12 Months to 36 Months.
REPATRIABILITY	Principal and Interest - both Fully Repatriable.
INTEREST	Compounded Half yearly.
MODE OF DEPOSIT	Foreign Exchange remittance from abroad/from NRE / FCNR Account/Deposit of Foreign Exchange during visit to India.
JOINT HOLDING	Permissible with persons of Indian National and persons of Indian Origin (resident attorney can also operate).
LOANS	Available to account holder as well as third party resident in India. LOANS IN INDIA : For business investment in shares & securities, purchase of house property for own residential purpose and any other personal purpose. OVERSEAS LOANS : Fund based/ non fund based facility for any bonafide purpose.
TRANSFERS	Transfer to NRE/FCNR Account or gift to Residents/NRIs permitted.
ATTORNEY	An Attorney may operate the account but can not open the account or gift or prematurely withdraw also can not transfer funds to another FCNR Account.
NOMINATION	Permissible.
RENEWAL / TRANSFER	The account can also be shifted from one authorized dealer to another.
PREMATURE WITHDRAWAL	Permissible: - However for period of less than 12 Months - No Interest payable, Above 12 Months - Subject to Penalty - As per Bank Rules.
TAXATION	Fully exempt from Income tax, Wealth tax and Gift tax in India.
ON RETURNING TO INDIA (PERMANENTLY)	Maintained as FCNR [ uptil maturity] and thereafter transferable in Residential Foreign Currency ( RFC) Account or as Resident Rupee Account.