भारत में विदेशी मुद्रा के रूप में एफसीएनआर (बी) जमा के बदले ऋण

You can request up to 95% of the amount*. As per current RBI guidelines in force, foreign currency loans are allowed to depositor/third party without any ceiling subject to usual margin requirements.

• The facility of premature withdrawal of FCNR deposits shall not be available where loans against such deposits are to be availed.
• For purposes other than investment in India, repayment shall be made either by adjustment of the deposit or by fresh inward remittances from outside India through normal banking channels.
• Facilities for loans/overdraft will be advanced against FCNR (B) fixed deposits in USD, GBP, EUR or YEN.

• Rate of interest: 1.5% p.a. over six months LIBOR rate as on the date of loan or 1.50 % over the FCNR (B) deposit rate, whichever is higher.
• Interest charged to the loan/overdraft account must be credited promptly every quarter (March, June, September and December). In case of default of 2 consecutive quarters interest payment, the fixed deposit shall be prematurely withdrawn for liquidating the amount of loan/overdraft outstanding.

Margin

Margin will be 5% of present value of the deposit.

Payment Scheme

• Wherever the fixed deposit is under half yearly interest payment scheme, the depositor shall direct that this half yearly interest be credited to loan/overdraft account only.
• Loan/overdraft amount do not enjoy the benefit of convertibility or cannot be repatriated or credited to accounts having the features of convertibility i.e. non-resident external and foreign currency deposit accounts.