The right financial plans for limitless opportunities. 

Choose a suitable type of Account.

  • Benefits
  • Features
  • Most Important Terms and Conditions (MITC)

Foreign Currency Non Resident B Term Deposit : Features

  • Entire funds (principal + interest) held in FCNR accounts can be repatriated.
  • Option to keep the deposit receipt free of cost in bank's safe custody.
  • Intimation of due dates enable you to plan your finance portfolio.
  • Automatic renewal on due date for 1 year at the prevailing rate of interest in the absence of fresh instructions to ensure that your money grows timely.
  • Acceptance & execution of standing instructions.
  • Addition and deletion of name of account holders is permitted.
  • Joint account with one or more NRIs is permissible.
  • Waiver of the penalty on premature withdrawal to renew of FCNR (B) Deposits for better rate of interest provided if the customer is ready to renew the deposits for a period more than the residual maturity and the same deposit has run at least for a period of one year at our Bank. However, in case of FCNR (B) deposit the renewal period should be more than residual period with a minimum of one year.
  • KYC documents to be submitted every two years. If not submitted, the deposit on completion of three years from the date of maturity will be crystallised (converted to INR on the date of completion of three years in absence of any specific instruction from the customer).

Foreign Currency Non Resident B Term Deposit : Most Important Terms and Conditions (MITC)

  • NRIs can open this account by Inward remittances in any convertible currency from abroad through normal banking channels by way of
    • Demand drafts
    • Telegraphic transfers
    • SWIFT
    • Foreign Currency
    • Foreign traveller’s cheques (during their personal visit) as well as transfer from any non-resident (external) rupee savings & fixed deposit account or foreign currency non-resident deposit accounts of any NRI on maturity. However, local Rupee cheques and cash currency in Indian Rupees cannot be deposited in this account.
  • Deposits are subject to rules framed by the Reserve Bank of India governing the NR (EXT.) Foreign currency (non-resident) accounts scheme and any amendments that may be made there to from time to time.
  • The full names, addresses and specimen signatures of the depositors should be lodged with the bank at the time of making the deposit. Falling this the bank would require suitable identification at the time of repayment of the deposit.
  • Deposit receipts are not transferable by endorsement. In the absence of special instructions, the amount of the deposit will be paid to the first named depositor.
  • Deposit receipts will, when so required, will be issued in the names of two or more persons and be made payable to any one or more of them or to any one or more of the survivors of them or the last survivor. However, all the persons must be Indians resident abroad or persons of Indian origin resident abroad.
  • The due date will be recorded on the deposit receipts to enable the depositor either to receive payment of the deposit or to arrange for renewal of the deposit. No further intimation will be given to the depositor. In case of non-receipt of instructions from the account holder for payment/renewal of the deposit, it will be automatically renewed for a similar period from the due date on the terms and conditions prevailing on due date.
  • Deposit will be accepted for a minimum period of 12 months and interest on such deposits will be paid on maturity.
  • At the time of payment/renewal, the depositor will be required to sign and surrender the receipt to the bank.
  • In case of premature withdrawal of the deposit receipt, the receipt needs to be signed by all the depositors irrespective of the operational instructions "Either or Survivor", or "Anyone or Survivors/Survivor". In case of dispute among the joint depositors the proceeds will be paid by crossed cheque in joint names only.
  • No interest will be payable for deposits that have remained with the bank for less than twelve months.
  • For deposits maintained for twelve months and above the rate of interest applicable for premature withdrawal for US Dollar, Pound Sterling, Euro, Australian Dollar and deposits will be one percent less than the rate applicable for the period for which it has remained with the bank as on the date of deposit or on the date of seeking premature withdrawal, whichever, is lower.
  • Interest is paid/credited (in case of cumulative deposits) half-yearly (March and September).
  • For deposit terms ranging from one to maximum five years, you will receive cumulative interest with half yearly rests under the reinvestment plan. For current interest rates on deposits click here.

Procedure for issuance of Duplicate Fixed Deposit Receipt and in case of Lost Fixed Deposit Receipts
  • An application from the depositor should be obtained.
  • Applicants must be properly identified.
  • Duplicate receipt may be issued only in cases where the un-expired period of deposit exceeds 12 months.
  • In all other cases only a letter of acknowledgement of deposit may be given to the depositor.
  • An indemnity bond should be obtained in the prescribed format in all cases.
  • One or two sureties considered good for the amount involved must execute the indemnity along with the depositors. Credit report on sureties be prepared in prescribed format and kept on record.
  • Sureties may be waived where the deposit is renewed for a further period of at least 12 months or where the depositors maintain other accounts which are well conducted.

Add this website to home screen

Are you Bank of Baroda Customer?

This is to inform you that by clicking on continue, you will be leaving our website and entering the website/Microsite operated by Insurance tie up partner. This link is provided on our Bank’s website for customer convenience and Bank of Baroda does not own or control of this website, and is not responsible for its contents. The Website/Microsite is fully owned & Maintained by Insurance tie up partner.

The use of any of the Insurance’s tie up partners website is subject to the terms of use and other terms and guidelines, if any, contained within tie up partners website.

Proceed to the website

Thank you for visiting

We use cookies (and similar tools) to enhance your experience on our website. To learn more on our cookie policy, Privacy Policy and Terms & Conditions please click here. By continuing to browse this website, you consent to our use of cookies and agree to the Privacy Policy and Terms & Conditions.