hello sir ! Would you please provide me Foreign Currency Non-Resident (Banks)Accounts - "FCNR" rates OF Punjab national bank with some information about it ?

Hello buddy here we provides you Foreign Currency Non-Resident
(Banks)Accounts - "FCNR" rates of Punjab national bank with some
information about it as follows





Foreign Currency Non-Resident (Banks) Accounts - "FCNR"



Non-Resident Indians can open accounts under this scheme.

These deposits can be maintained in 5 designated currencies i.e. U.S. Dollar
(USD), Pound Sterling (GBP) and Euro, Australian Dollar (AUD) & Canadian
Dollar (CAD).

These deposits can be opened with funds remitted from abroad in convertible
foreign currency

These accounts can be maintained with branches, which are authorised for
handling foreign exchange business.

Funds for opening accounts under PNB Global Foreign Currency Deposit
Scheme

Remittance from outside India or Traveller Cheques/Currency Notes
tendered on visit to India.

Rupee balances in the existing NRE accounts can also be converted into one
of the designated currencies at the prevailing TT selling rate of that currency
for opening of account or for credit to such accounts.

Advantages of FCNR (B) Deposits

Principal along with interest freely repatriable in the currency of your choice.

No Exchange Risk as the deposit is maintained in foreign currency.

Loans/overdrafts in rupees can be availed by NRI depositors or 3rd parties
against the security of these deposits.

No Wealth Tax & Income Tax is applicable on these deposits.

Gifts made to close resident relatives are free from Gift Tax.

Facility for automatic renewal of deposits on maturity and safe custody of
Deposit Receipt is also available.