Repatriation of FCNR Deposit
Note:
  • No interest will be paid if the FCNR Deposit is cancelled prematurely before completion of 1 year tenor.
  • Premature Liquidation clause: Effective 01st Dec'06, the interest rate applicable for premature closure of deposits (all amounts) will be lower of :
    (a)  The base rate for the original/contracted tenure for which the deposit has been booked OR (b)  The base rate applicable for the tenure for which the deposit has been in force with the Bank.
  • Your FCNR repatriation request will be processed within 2 working days excluding Saturdays, Sundays, Indian public holidays. In case the amount is not repatriated 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 closure proceeds can be repatriated only to the customers’ own/self account abroad. The beneficiary name has to be the same as the name of the account holder/deposit holder. Repatriation of funds to third party is not allowed under this option. The request will be rejected in case of any mismatch in the name of Fixed Deposit holder and beneficiary name details.
  • The final FCNR repatriation amount will be post calculation of interest, based on the premature FCNR Liquidation clause mentioned in point (2) above.
  • Repatriation request received for any payments to OFAC sanctioned countries will not be processed. Hence remittances to following countries cannot be done - Iran, Myanmar, Sudan, Syria, Cuba, North Korea, Somalia. Any payments to partial OFAC sanction countries (Balkans, Belarus, Ivory Coast, Congo, Iraq, Libya, Liberia, Lebanon, Zimbabwe) will be effected only if the beneficiary & beneficiary bank are not in SDN list.
  • Repatriation requests received for non FATF countries may not be processed. The bank at its sole discretion may accept or reject requests received for repatriation to such countries.
  • In case of rejection of the FCNR repatriation transaction, then the foreign currency funds will be utilized for re-booking the FCNR Deposit for the same tenure of the actual FCNR FD that is liquidated.
  • Please Note:-
    • For all GBP remittances - 6 Digits SORT code of Beneficiary Bank in UK is required.
    • For all EUR remittances – IBAN No. of Beneficiary is mandatory
    • For all AUD remittances - 6 digit BSB No. of Beneficiary Bank is required.
    • For all CAD remittances –Bank code and Transit No. for Beneficiary Bank is required
  • Providing the mobile number or e-mail ID here will not result in an update of your mobile number or e-mail ID as recorded with us. In case if your request is rejected, intimation will be sent to your email address or mailing address as updated in bank records.
  • HDFC Bank is not responsible for any charges / commission of any kind levied/charged by the Beneficiary Bank or its Correspondent Bank.
  • The customer has to ensure that the beneficiary account number and other details entered are correct. HDFC Bank is not in position to validate a Non-HDFC Bank Account number and is not responsible for funds transferred/status confirmation to an unintended recipient.
  • The Bank shall have the recourse and right to recover from you any loss, liabilities and expenses incurred, or paid by the Bank that may arise due to remittance being effected to unintended beneficiary out of the proceeds of your Saving/Fixed Deposit Account(s) and that you will indemnify the Bank from and against such loss, liabilities and expenses.
  • Maximum amount for on-line repatriation is INR 10,00,000/- per Customer ID per day and the request will be rejected if the amount of repatriation is above 10,00,000/- INR.

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