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Benefits

Eligibility

Advance against FCNR (B) Deposit is a type of loan that can be availed by NRIs (Non-Resident Indians) against their FCNR deposits.

NRIs can request this loan only against the deposits in FCNR (B)

Features

  • Loan amount is usually a percentage of the FCNR (B) deposit
  • Loan is offered in the same currency as the FCNR (B) deposit
  • Repayment tenure can range from 1-5 years or as per T & C
  • FCNR (B) Deposit holder can also avail this loan for third party.

Benefits

  • Easy access to funds without breaking the FCNR deposit
  • Competitive interest rates.
  • No risk of exchange rate fluctuations (since the loan is in the same currency as the deposit)

Please note that the terms and conditions may vary depending on the terms and conditions at the time of sanction and the specific loan product.

International

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