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How to Open RFC Resident Foreign Currency Account 2026
RFC Account - NRI returnee + foreign income. USD/EUR/GBP/JPY. Returning Indians. Bank.
📁 Banking
⏱️ 45-90 mins
💰 Free
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About This Guide
Resident Foreign Currency (RFC) account - for residents who returned from abroad with foreign earnings. Multi-currency: USD/EUR/GBP/JPY. Foreign income/savings preserved. NRO returns route. Apply at major banks (HDFC/ICICI/SBI/Axis). KYC + Returnee proof. Free for most. Earns foreign currency interest.
Eligibility Criteria
- Returning NRI (resided abroad 1+ years)
- OR foreign income earner
- Aadhaar mandatory
- PAN
- Existing bank relationship
- Indian resident
Documents Required
Keep these documents ready before starting application. Missing documents = delayed approval.
- Aadhaar
- PAN
- Passport (visa pages)
- Returnee proof (visa expiry/foreign employer letter)
- Foreign income proof
- Bank account (existing)
- Photo
- RFC Application Form
- KYC documents
Step-by-Step Application Process
Follow these steps in order. Each step is critical - skip none.
Choose Bank
HDFC/ICICI/SBI/Axis common.
Visit Branch OR Apply Online
Online preferred.
Returnee Proof
Visa or foreign employer.
Choose Currencies
USD/EUR/GBP/JPY.
Account Opened
Same day to 7 days.
Initial Deposit
From foreign source.
Earn Foreign Interest
Per currency rates.
Withdrawal
Foreign currency or convert to INR.
TDS Free
Interest in foreign currency.
Key Benefits
- Multiple currencies
- Foreign interest
- Returnee specific
- TDS-free
- NRI continuity
- Foreign visa preserved
- Multiple major banks
- Online apply
What Happens After Application?
1-7 days.
Frequently Asked Questions
NRI vs RFC?
NRI account: while abroad. RFC: while resident in India + foreign earnings preserved. Different categories.