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Loan Against FCNR Deposit
- As per RBI Guidelines loans will be made available for personal purposes or for carrying on business activities except for the purpose of re-lending or speculative purposes or carrying on agricultural/plantation activities or for investment in real estate business.
- Repayment shall be made either by adjustment of the deposit or by fresh inward remittances from outside India.
- The loan can also be repaid out of local rupee resources in the NRO account of the borrower.
- For acquiring a flat/house in India for his/her own residential use subject to the provisions of the relevant Regulations made under the Act of Reserve Bank of India.
- As per current RBI guidelines in force, Rupee loans is allowed to depositor / third party without any ceiling subject to usual margin requirements
- For further details, please contact your nearest Bank of India Branch.
Loan Against FCNR Deposit
*Terms & Conditions apply. For further details, Please contact your Nearest Branch
