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  #2  
June 1st, 2016, 12:35 PM
Super Moderator
 
Join Date: Mar 2012
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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