Bank of India France
Remittance Up to 4499
BOI INR
80.10
BOI LKR
Remittance 4500-7000
BOI INR
80.20
BOI LKR
Remittance 7000-10000
BOI INR
80.30
BOI LKR
Remittance Above 10000
BOI INR
Contact branch
BOI LKR
Remittance USD TO INR
BOI INR
76.95
BOI LKR
COUNTER
Repatriable accounts
The brief comparative features of the two schemes are :
PARTICULARS | FCNR | NRE |
Who can open accounts | NRIs | NRIs |
Joint accounts of two or more NRIs | Permitted | Permitted |
Joint account with Residents | Not permitted | Not permitted |
Nomination facility | Available | Available |
Currency of account | USD, GBP, EUR, JPY,AUD,CAD | Indian Rupees |
Repatriability | Principal and interest repatriable | Principal and interest repatriable |
Type of account | Term deposits | Savings, Current and Term deposits |
Period | 12 months to 5 years | 12 months to 10 years |
Minimum amount | USD 1,500 GBP 1,000 EUR 2,000 JPY 50,000 AUD 1,000 CAD 1,000 | |
Taxation (Indian taxes) | Exempt from income and wealth tax | Exempt from income and wealth tax |
Liquidity | Easy pre-mature encashment facility | Easy pre-mature encashment facility |
Automatic renewal facility (ARS) | Available on signing of ARS agreement | Available on signing of ARS agreement |
Safe custody facility | Available on request; compulsory with ARS |
Available on request; compulsory with ARSnt |
Renewals | Deposit receipt to be submitted duly discharged within 14 days from date of maturity for retrospective renewal – alternatively renewal will be with simple interest from maturity date to renewal date | Deposit receipt to be submitted duly discharged within 14 days from date of maturity for retrospective renewal – alternatively renewal will be with simple interest from maturity date to renewal date |