Accounts and Deposits for Gift City
Frequently Asked Questions
Yes, they can. Non-Resident Indians (NRIs) and foreign nationals can open Offshore Accounts & Deposits for GIFT City in India.
An Offshore Deposit allows you to park denominations of four major currencies including USD, GBP, EUR and AUD for a fixed tenure. Such deposits come with a tenure up to five years, and you can earn interest at competitive rates. The bank also offers a Loan against the Offshore Deposits for up to three years at attractive interest rates.
Over 22 banks have been licensed to operate in GIFT City. The list of licensed banks includes both domestic and global banks.
To open an Offshore Deposit or Call Account with HDFC Bank, you need to fill out the online lead form. Enter your name, mobile number and email address and select your city. Click on submit and wait for an HDFC Bank executive to get in touch with you. They will guide you through the account opening process.
You can view the list of interest rates here.
You are not required to maintain a minimum balance for Call Accounts as they are zero-balance accounts. However, in case of Offshore Deposits, you must invest a minimum amount as follows:
For USD: USD 5,000
For GBP: GBP 5,000
For EUR: EUR 5,000
For AUD: AUD 5,000