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Enjoy Zero Charges on 28 Commonly Used Savings Account Services
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Unlock new horizons of growth in India’s
first international financial hub.
The FIRST Global Savings Account is a specialized account for Non Resident Indians (NRI) that can be opened at the International Financial Services Centre (IFSC), GIFT City, Gujarat. Designed exclusively for global Indian citizens, this account offers attractive interest rates, seamless digital access, and regulatory benefits of GIFT City. With world-class banking infrastructure and ease of operation, the FIRST Global Savings Account enables you to manage your foreign earnings effortlessly while enjoying the flexibility of a globally compliant banking solution. Read more
The FIRST Global Savings Account is a unique non-resident savings account offered by IDFC FIRST Bank under the IFSC framework at GIFT City. It is tailored for Non-Resident Indians (NRIs) and allows you to hold your foreign currency earnings in India while enjoying liberalised banking norms. This account enables NRIs to deposit, maintain, and repatriate funds freely, backed by the regulatory environment of GIFT City, which mirrors international financial standards. Alongside global banking access, it offers you attractive returns, minimal paperwork, and the confidence of banking with one of India’s leading financial institutions. It’s the ideal choice for managing offshore income with efficiency and transparency. Read more
The FIRST Global Savings Account is packed with several attractive features, making it a convenient and rewarding banking solution for NRIs:
Earn Attractive/Competitive interest rates on your savings deposit, credited every month for enhanced financial growth.
Enjoy unrestricted repatriation of funds to your country of residence whenever required.
Maintain your funds in major foreign currencies like USD and EUR, eliminating the need for conversions.
Enjoy zero-fee banking on FIRST Global Savings Account and save more on banking services.
Interest earned is tax-exempt under current Indian tax laws for GIFT City savings accounts.
Get personalised assistance for all banking services and enjoy seamless world-class banking.
The FIRST Global Savings Account offers a highly competitive interest rate along with transparent fee structures to suit your global banking needs.
| Particulars | Details |
|---|---|
| Interest Rate | 4.75% per annum |
| Average Monthly Balance Requirement | Zero |
| ATM/Debit Card Issuance | Complimentary |
| Fund Transfer Charges (International) | Zero |
| Account Maintenance Charges | Zero |
Note: All rates and charges are subject to change as per the Bank’s discretion and applicable regulations.
The FIRST Global Savings Account is exclusively available to eligible non-residents who wish to leverage GIFT City's internationally aligned banking ecosystem.
Minimum age of 18 years
Non-Resident Indians (NRIs) or Persons of Indian Origin (PIOs)
Must not be a resident under the Government of India (GOI) regulations
Individuals residing outside India with a valid passport and overseas address proof
Kindly get in touch with your Relationship Manager (RM) for opening an account.
Only AOF is required.
You can hold deposits in major foreign currencies in your FIRST Global Savings Account. The supported currencies currently include:
These options enable you to manage your global income without worrying about exchange rate conversions.
There are specific regulations that NRIs in the USA must adhere to when opening an NRI account in India. The Reserve Bank of India (RBI) has set guidelines to ensure compliance and transparency. NRIs need to provide valid identification documents, proof of NRI status, and adhere to the Foreign Account Tax Compliance Act (FATCA) regulations. FATCA requires individuals to report their financial accounts held outside the USA, and Indian banks, including IDFC FIRST Bank, must report NRI account details.
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