Internet Banking

At Cosmos Bank, we are committed to helping you meet all your banking needs to the best of our ability. You can access internet banking portal of our website at any hour of the day. There are no fixed timings to use the facilities. Moreover, enjoy the luxury of getting all the work accomplished at the comfort of your home or office, at any hour that is preferable for you

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Plot No-6, S.No-132/B, ICS Colony, Ganeshkhind Road, Pune
+91-20-67086708

Call Toll Free

1800 233 0234

customercare@cosmosbank.in

Weekdays 10 AM to 6 PM

Sunday : Closed

Attactive Features of Cosmo FCNR (B) Double Bonanza
Reinvest Deposits
Reinvest in NRE on maturity of Funds
Higher Returns
Get highest possible returns on FCNR (B) Bonds.
Tax Benefit
No tax on Interest

Cosmo FCNR (B) Double Bonanza

Short term investment plan for your foreign currency

A term deposit account for NRIs and PIOs for a maturity period of 1 year. Highest returns, reinvestment opportunities and a reasonable minimum deposit all devised for you.

Are you an NRI or a PIO looking to invest your foreign currency for a short period of one year?

Cosmos Bank has got the right product for you. The Cosmo FCNR (B) Double Bonanza, a term deposit account by Cosmos Bank on maturity for a period of 1 year and 1 day. Get highest returns and an opportunity to reinvest the funds into an NRE account. All you need is a minimum deposit amount of USD 10000 or its equivalent in Euro/ Yen/ GBP.

Applicable rates for Cosmo FCNR (B) Double Bonanza for some major currencies -

Tenure (years) USD GBP EUR JPY

Applicable Applicable Applicable Applicable
1 year  1 day 2.00
1.64 0.76 1.26
Eligibility
  • Please contact the branch for further details
Facility
  • The available currencies USD, Euro, GBP and JPY
  • FCNR Tenor of 1 year 1 day
  • LIBOR Plus Spread
  • Interest calculated on the basis of 360 days in a year on half yearly rest
  • Premature Closure of Deposit before 1 year is allowed. However, no interest will be paid. Moreover, premature closure will be allowed subject to cancellation of the forward contract and recovery of exchange difference/ SWAP cost, if any.
Documents Required
  • Duly filled Account Opening Form
  • Duly verified photo copies of Passport and Visa to confirm the residential status
  • Duly verified photocopies of overseas address proof as well as of local address in India wherever applicable
  • Any other document to comply with KYC norms, & FATCA CRS Form
  • Forward cover request and agreement on stamp paper / franking of proper value as per rules

Get In Touch

Our Expert will call you back on the number provided by you within 24-48 hours to assist you further. Thank you for your interest in Cosmos Bank

Ideal for people
  • Ideal for NRI’s & PIO’s looking to open a Term Deposit Account
Good to Know
  • Conversion of FCNR (B) Deposit into NRE in the 1st year: If Forward contract is booked for maturity, the proceeds to be credited to NRE term deposits subject to confirmation of NRI status on the date of Maturity of FCNR
  • Joint Account - Either or Survivor
  • Special Features - Higher return on FCNR (B) deposit combined with forward cover in INR plan.
  • Depositor can take benefit of higher premiums on USD/GBP/EUR/JPY.
  • The booking of forward contract and its timing will be at the option and discretion of the depositor.
  • On maturity after conversion, the amount can be reinvested in NRE deposit for further period of minimum 1 year.
  • Renewal Facility is not applicable if forward contract is booked

    Nomination is permitted

    Loan availability will be as per the FEMA guidelines from time to time

    Deposit will be kept at authorized ( B cat branches )
  • Repayment of NRE Deposits: On maturity of NRE deposit, it will be either renewed for further period or may be credited to NRE savings/ normal savings or it may be repatriated to overseas bank account of the depositor as per FEMA guidelines, subject to confirmation of appropriate status of the depositor.
  • Interest - For Rate of Interest Updated on monthly Basis
  • Form: Available on Online Form Centre