Rupee Linked Foreign Currency Deposit - Benefits & Comparison
14 Jul 2022
Rupee Linked Foreign Currency Deposit is a product made for our NRI customers. Customers can convert their Rupee deposit into any convertible currency (presently USD, AUD, GBP and EURO) for a fixed maturity date to get a better yield compared to the NRE Rupee deposit rate as per prevailing market conditions. This product is without any risk to the customer and the customer will get the maturity proceeds in Rupee after the maturity of the deposit.
RLFCD Benefits
- Opportunity of a better Yield %
- No Exchange Risk
- Return is Tax-Free
Comparison with NRE TD
| RLFCD | NRE TD |
|---|---|
| Principal | Principal |
| Interest (Applicable as per FCNR (B)) | Interest (Applicable as per NRE TD) |
| Premium/Discount available in the market | |
This information is generic in nature and is for illustration purpose only. Kindly read all terms & condition prior investing. Please contact your Branch or Relationship Manager to confirm the yield before actual placement of funds.
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Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes and do not necessarily reflect the views of Bank of Baroda. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Bank of Baroda and/ or its Affiliates and its subsidiaries make no representation as to the accuracy; completeness or reliability of any information contained herein or otherwise provided and hereby disclaim any liability with regard to the same. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Bank of Baroda or its affiliates to any licensing or registration requirements. Bank of Baroda shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
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