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Deposits

Non Resident External Term Deposits (NRE)
HSBC India's NRE Term Deposit is a term deposit held in India, in Indian Rupees. You can convert your foreign currency earnings into Indian Rupee NRE deposit or transfers funds from your NRE/FCNR account in India to place a new NRE deposit.
Non Resident Ordinary Term Deposits (NRO)
HSBC India's NRO Term Deposit is a term deposit held in India, in Indian Rupees. The NRO* deposit is suited for you if you have earnings in India (such as rent income, dividend, pension, etc) on which you want to earn fixed returns. You can also transfer funds from your NRO/NRE/FCNR account to place a new NRO deposit.
Foreign Currency Non Resident Deposits (FCNR)
HSBC India's FCNR Deposit is a deposit maintained in foreign currency in India.
Resident Foreign Currency Deposits (RFC)
If your are returning to India permanently you can retain your foreign currency earnings by placing a RFC deposit with us and convert them into Indian Rupees at a later date at your convenience.
Feature of various NR deposits
Quick Access
NR deposits are offered under the Reserve Bank of India program for Non-Resident Indians and are governed by the rules in effect from time to time relating to such programs, are subject to the sovereign risk arising from, and governed by the laws of, or any changes to the laws of India.

*As per current local regulations the permissible remittance from the balances in NRO accounts is up to USD 1 million, per financial year for all bonafide purposes. The remittances (net of applicable taxes) will be allowed to be made on production of an undertaking by the remitter and a Certificate from a Chartered Accountant in the prescribed formats.

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