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A forward contract agreement is entered between the bank and you wherein the bank agrees to buy foreign currency (FCNR maturity proceeds) from you at a pre-agreed rate. Depending on the currency market rates, you would earn a premium and thereby a higher effective yield on your FCNR deposit.
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The Financial Markets department compiles indicative foreign exchange rates daily for use by the general public. These rates reflect the average buying and selling rates of the major participants in the foreign exchange market at the open of trade every day, thus providing a good indicator for any interested party on the value of the shilling on any particular day.
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IndusInd Forex card easy to use. With the IndusInd Forex card, you can enjoy a cashless travel and shopping experience. With this Forex travel card you can carry out monetary transactions overseas, also it safeguards you from fluctuation of currency exchange rates.
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Depending on the difference in currency rates and the amount to be transferred, the charges on remittance are also different. Scheme as provided in regulation 4 to FEMA Notification 1/2000-RB, dated the 3rd May, 2000 if it is so required by a medical institute offering treatment or the university or country of emigration, respectively. NA
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A fixed deposit allows you to make a one-time investment in an account which you create for a stipulated period of time. This is a safe investment, with guaranteed returns, which attracts a fixed rate of interest till the date of maturity. We at IndusInd Bank offer you the flexibility to choose when to collect the income accrued on your deposit.
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