May be opened in the form of -

• Fixed
• Savings

Eligibility+

• Non Resident minors whose parents/guardians are employed/living in foreign countries.- NRFC
• Resident minors whose parents/guardians are employed/living in foreign countries – RFC.
  

NRFC/RFC Minor Accounts can be opened in,

• US Dollars
• Singapore Dollars
• Canadian Dollars
• Sterling Pounds
• Australian Dollars
• Euro
• Swiss Francs
• Hong Kong Dollars
• Japanese Yens
• New Zealand Dollars
• Swedish Kroners
• Danish Kroners
• Norwegian Kroners

Permitted Credits (Deposits to Account)

• Inward remittances received through authorized dealers.
• Foreign currency brought into the country by the parent/guardian on arrival.
• Interest payable on the accounts.
• Transfers from the parent /guardians of Foreign Currency Accounts.

Permitted Debits (Withdrawals From Account)

• Withdrawals in Local Currency according to the normal procedure of Minor accounts.
• Funds could be transferred in foreign exchange for educational purpose

Documents to be submitted

• Application Form
• Birth Certificate of Minor
• Nationality, foreign address and the occupation of the parent/guardian
• Photocopy of details and Visa Page of Parent/Guardians’ valid Passport.

Special Benefits

• 1% interest higher than the prevailing interest rates of NRFC Accounts

Click here to download the account opening application form