#1
June 1st, 2016, 11:38 AM
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Union Bank Of India Foreign Exchange
Please get some details about Smart Foreign Currency feature of Union Bank Of India so that I can check it easily?
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#2
June 1st, 2016, 12:35 PM
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Re: Union Bank Of India Foreign Exchange
Don’t worry buddy I will help you here to get the information on Smart Foreign Currency feature of Union Bank Of India. Objectives NRE Rupee Term Deposits - To avail of comparatively higher rate of interest. FCNR (B) Term Deposit - To safe guard themselves from exchange rate risk. Advantages Earn higher returns in foreign currency as compared to FCNR (B) deposit. Protects against exchange loss. Interest earned is totally free from Indian Income Tax (as per existing norms). Maturity proceeds (both principal + Interest) can be repatriated. Modalities of the Scheme Eligibility Non-Resident Indians of Indian Nationality / Origin (NRI/PIO) Purpose: To enable the NRIs to maximize the yield of the Foreign Currency Resources / funds. Period of Deposit: Period of deposit will be for 12 months. Minimum size of Deposit: USD 10,000 or its equivalent. Address:- Union Bank Of India Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai - 400 021, Maharashtra, India Phone:- 022-22892000 |
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