New foreign currency conversion service tax on the converted value will be applicable for every foreign currency transfers. The slab based rates applicable are as follows:
| Remittance Amount | Service Tax Amount * |
| Up to INR 1 lakhs | 0.12% of the gross value or INR 30/- whichever is higher |
| From INR 1 lakh to INR 10 Lakhs | INR 120 plus 0.06% of the amount exceeding INR 1 Lakh |
| From INR 10lakh and above | INR 660 plus 0.012% of the amount exceeding INR 10 Lakhs, subject to a maximum of INR 6000. |
* There will be an additional 2% Secondary education cess and 1 % higher secondary education cess on the service tax collected above.
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Foreign Exchange Rates -
Interest Rates -
Maturity Period: 1-2 Years
- NRE/NRO SB 4% pa
- NRO TD
- NRE TD
- FCNR (USD)
- FCNR (GBP)
- FCNR (EUR)
- FCNR (YEN)
*Interest rates subject to change
