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State Bank of Mysore -
Interest Account
FCNR {Foreign Currency (non-resident)} Account
- FCNR Term Deposit
/Re-investment accounts may be opened in designated currencies viz., US Dollar, Pound
Sterling, Deutsche marks, Japanese Yen and also Euro.
- These deposits are issued out
of depositor’s remittances from abroad or from transfer from the existing
Non-resident (External) rupee account or out of foreign exchange brought to India during
non-residents’ visit to India.
- Loans in rupee accounts against
Foreign currency Non-resident deposits are available upto 90% of the deposit amount
including interest accrued thereon.
- Interest will be paid in the
currency of the deposit. Conversion to Indian Rupees would be at the prevailing exchange
rate.
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