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BOI RFC Term Deposit
BOI RFC Term Deposit is a fixed deposit account offered by the Bank of India specifically for Returning Foreign Citizens (RFCs). RFCs are individuals who were previously Non-Resident Indians (NRIs) but have returned to India for permanent residence after spending a significant amount of time abroad (typically exceeding one year).
Guaranteed Returns
Includes Life Cover
Completely Tax Free+
3 Benefits, 1 Plan
Maximum returns offered by:
6.9%*
(Tax-Free)
Guaranteed Plan
(By Insurance companies)4.6%*
(After Tax)
Fixed Deposit
(Offered by Banks)4.0%*
Savings Account
(Post Office)Get Guaranteed returns upto 6.9%*
Fully Tax-Free, Life Cover Included
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FD Interest Rates
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BOI FD Interest Rates
- BOI RFC Term Deposit
Rate Of Interest On RFC Term Deposits
| Maturity | USD | GBP |
| 1 Year To Less Than 2 Years | 5.35 | 4.75 |
| 2 Years To Less Than 3 Years | 4.00 | 2.50 |
| 3 Years (Maximum) | 3.35 | 2.55 |
Interest Rates On Deposits - ROI On RFC SB
| USD | GBP |
| 0.10 | 0.18 |
People also read: Bank Of India FD Interest Rates
What are RFC Term Deposits?
RFC Term Deposits are fixed deposit accounts designed specifically for Returning Foreign Citizens (RFCs).
Here's what RFC Term Deposits are:
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Target Audience: RFCs are individuals who were previously Non-Resident Indians (NRIs) but have returned to India for permanent residence after spending a significant amount of time abroad (typically exceeding one year).
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Account Purpose: RFC Term Deposits offer RFCs a way to invest their earnings or savings for a fixed term and earn interest on them.
Features of BOI RFC Term Deposit
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Repatriation: Freely Repatriable. This means both the principal amount you deposit and the interest earned can be easily transferred back outside India without any restrictions.
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Currency of Deposit: USD or GBP: You have the flexibility to deposit your money in either US Dollars (USD) or British Pounds (GBP).
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Deposit Tenure:Â 12 months to 36 months: The minimum deposit period is 1 year and can go up to 3 years.
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Interest Rate: The interest rate offered on BOI FCNR (B) Deposits is variable. The bank will advise the current rate based on prevailing guidelines, and it's also displayed on their website.
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Taxation: As long as you remain an NRI classified as "Resident but not ordinarily resident," the interest earned on your deposit is exempt from Indian taxes.
People also read: FD Interest Rates
Who Can Open An Account Under BOI NRE Term Deposit Account?
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Eligibility: NRIs (Non-Resident Indians)
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Individuals/entities of Bangladesh or Pakistan nationality/ownership require prior approval from RBI.
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Joint account: Permitted
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++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in