FCNR Liquidation
Note:

  • No interest will be paid if the FCNR Deposit is cancelled prematurely before 1 year. Please check the date of FCNR booking /start date/ renewal date before liquidating the same.
  • Premature Liquidation clause: Effective 01st Dec'06, the interest rate applicable for premature closure of deposits (all amounts) will be lower of :
    • The base rate for the original/contracted tenure for which the deposit has been booked OR
    • The base rate applicable for the tenure for which the deposit has been in force with the Bank.
  • The FCNR Deposit liquidation request will be processed within 2 working days excluding Saturday, Sunday, Indian public holidays, International currency holidays. In case the FD is not liquidated within the prescribed TAT (i.e. 2 days from the date of receiving the request) then, after completion of 2 working days you can write to us at NRICustomer-Servicesdesk@hdfcbank.com
  • The FCNR Deposit liquidation proceeds can be credited only into the source NRE savings account from which the Fixed Deposit has been booked. Liquidation proceeds cannot be credited into PIS/PMS account or any other account or by way of Demand Draft or Managers Cheque. Any liquidation request wherein PIS/PMS account is selected as the 'credit account' then the request will be rejected.
  • FCNR liquidation facility is available on Net Banking only to customers having a Single Ownership account status on Fixed Deposit as well as source NRE savings account with the Bank.
  • If there is a lien marked on the FCNR Deposit, please note that the Fixed Deposit will not be liquidated online. Please visit your HDFC Bank Branch for the same.
  • This facility does not allow partial liquidation of the FCNR fixed deposit into the source NRE savings account.
  • The Forex rates mentioned under 'NR Forex Rates' are the indicative rates for today. The FCNR Deposit will be liquidated as per the prevailing forex rates at the time of processing the request.
  • Applicable charges towards conversion of FCY to INR (as shown below) will be deducted from the NRE savings account:-

    Service tax as per sub rule (7B) of Rule 6 of the Service Tax (Amendment) Rules 2011 For Amount of Currency Exchanged(ACE) up to Rs.100,000 - 0.12% of ACE, min Rs.30/-
    - For Amount of Currency Exchanged(ACE) above Rs.100,000 up to Rs.1,000,000 - Rs.120 + 0.06% of incremental amount above Rs.100,000
    - For Amount of currency exchanged above Rs.1,000,000 - Rs.660 + 0.012% of amount above Rs.1000,000, subject to maximum of Rs.6000
    Education Cess Education Cess @ 3% on the amount of service tax

    Fees and charges are subject to change; HDFC Bank reserves the right to modify the charge schedule without prior notice.