Call Account For Gift City

The call account acts as a single account to route your money for investments made through HDFC Bank GIFT City. It allows you to manage your funds efficiently without losing interest while you wait for the right opportunity to invest.

Call deposit accounts can be opened by

• Non Resident Indians
• Individuals in other countries (Foreign nationals) #
• Corporate / Minor / Jointly

#(Client is required to verify the local applicable rules and regulations for investments in offshore products)

i. Individuals (Persons resident outside Bahrain)

• Account opening form
• Photocopy of passport
• Photocopy of valid visa / work permit / residence card
• Address proof
• Electricity bill
• Telephone bill
• Bank account statement
• Valid Identity card
• Government Issued for Self employed and Salaried
• Issued by company for salaried
• One Photograph
• Client profiler
• Supporting income documents if investments exceed USD 100,000

All documents are required to be self attested by you. Any identity card should be valid and in case of bank statements/bills, they should not be more than 3 months old.

ii. Corporates / partnership

• Board resolution authorising the opening of account with HDFC Bank-Bahrain Branch
• Certificate of Incorporation or registration (or similar document) (certified copy)
• Memorandum and Articles of Association or other constitutive document (certified copy)
• Licence or registration certificate from any other relevant regulatory authority (certified copy) 
• Certificate of Good Standing (or similar document)
• Audited annual accounts for the past two years
• Documents confirming signature authority for accounting opening and operating signatories (Resolutions by the Shareholders or the Board, Power of Attorney (certified copy)
• Passport copy of each authorised signatory (certified copy)
• National identity of each authorised signatory (certified copy) or in case of bank statements / bills, they should not be more than 3 months old.
• List of principal beneficial owner(s) (persons or entities holding more than 5%, directly or indirectly, or having effective control over the company’s assets) and passport copy for each beneficial owner (certified copy)
• Proof of address of the Company – latest electricity bill (certified copy)
• Photograph of authorized signatories

iii. Existing customers of HDFC Bank India An existing customer of HDFC Bank, India is considered as a new customer for HDFC Bank, Bahrain; hence is required to submit all documents as mentioned above.

iv. Existing customers of HDFC Bank GIFT City Duly filled Service request form

A cheque book is not issued on the call account.

Interest rates are adjusted time to time. Please see the Interest rates schedule for the latest interest rates. Interest rate will be calculated on a simple interest rate basis on the daily balance held in the account. The accumulated interest would be credited to the Call account at the end of every month. In case the Call account is closed before a month ends, the interest accrued till the date of closure of the account would be paid out to the account holder.

There is no minimum amount required to open the call account

You don't need to maintain any balance in the call account. It’s a zero balance account.

• United States Dollar (USD)
• Great Britain Pound (GBP)
• Euro (EUR)
• Australian Dollar (AUD)
• Canadian Dollar (CAD)
• Arab Emirates Dirham (AED)
• Japanese Yen (JPY)
• Singapore Dollar (SGD)

No overdraft / negative balance is allowed in a call account.

• Foreign currency cheque /draft from your account held in other banks
• Telegraphic / SWIFT transfers by debit to your account held in other banks
• Redemption proceeds of your investments with other Financial institutions held in your name.
• In case you are an NRI, then funds transfer from your existing NRE and FCNR account in India

• Transfer to an investment product offered by HDFC Bank GIFT City
• Transfer to Offshore Deposit offered by HDFC Bank GIFT City
• SWIFT transfer to NRE/FCNR account maintained with HDFC Bank, India
• SWIFT transfer to your account with any other Bank in the world
• Foreign currency draft in your name

HDFC Bank GIFT City will send call account statement at a quarterly basis. You can also opt for receiving statements through email.

Please contact your relationship manager for modifying your account details.

Taxation laws applicable as per Bahrain law will be applied.

Debit transaction
Date on which HDFC Bank GIFT City receives clean documents for processing. Clean documents mean documents that are error/discrepant free. Documents may include account opening forms, investment documents etc.

Credit transaction
Depending upon the mode of remittance the value date will be as follows:

• SWIFT transfer: Date on which the funds are credited to HDFC Bank GIFT City Nostro account. 
• Cheque / Demand draft: Date on which clear funds are realized by HDFC Bank GIFT City. Funds however will be credited in customers account only after a cooling period of 21 days from the date of deposit.