Pioneer Banking Logo Pioneer Banking Logo
Logo Logo

GIFT CITY

Average Quarterly Balance - IndusInd Bank PIONEER

About GIFT City’s International Financial Services Centre

GIFT City (Gujarat International Finance Tec-City) is India’s first International Financial Services Centre (IFSC) which is setup for financial institutions who want to conduct overseas business which is currently carried out from their offices in other countries. IFSC based Units (registered with IFSCA) are treated as “Non-resident” under the Foreign Exchange Management Act and is akin to a foreign territory based out in GIFT City Gandhinagar.
The Transactions conducted here are Foreign Currency transactions and INR Transactions are currently not permitted.
There are various categories of unit established in GIFT City, including but not limited to, banking, insurance, capital market exchanges and broker dealers, funds, AIFs, Global Treasury centers, Foreign University, Aircraft Leasing and Ship Leasing entities and Fintechs.

About IFSCA

IFSCA is a unified regulator which was established on April 27, 2020 under the International Financial Services Centres Authority Act, 2019 and is headquartered at GIFT City, Gandhinagar in Gujarat.

Indusind Bank IBU GIFT City

Indusind Bank IBU Gift City has commenced its business at GIFT City since June 28, 2016.
Our objective is to emerge as a preferred banking solutions provider and partner for serving global needs servicing 360 degree banking experience for all our customers.
This is Indusind Bank’s unique Foreign Branch providing Foreign Currency banking solutions for retail, corporate and treasury needs of varied customers.
 

Our Offerings

IndusInd Bank IBU GIFT City offers Retail and Corporate Banking services to Non Resident Indians including Current Account, Savings Account, Term Deposits, Loan against Deposits and other Credit facilities (Term Loans, ECBs to resident / non-resident Indian entities, Working Capital etc.), Cross Border Remittance facilities, Treasury and Trade Finance products.
/content/dam/ipb/gift-city/CA_icon_grey.png
Current Accounts
/content/dam/ipb/gift-city/SA_icon_grey.png
Savings Accounts – Non Resident Indian Individuals
/content/dam/ipb/gift-city/Deposits_icon_grey.png
Deposits
/content/dam/ipb/gift-city/Int-Trade-Fin_icon_grey.png
International Trade Finance
/content/dam/ipb/gift-city/Treasury_icon_grey.png
Treasury Products
The Current Account is available in multiple currencies – USD, GBP, EUR
  • Easy to transfer money
  • Attractive rates for remittances
  • Cross currency, funds’ transfer facility is available.

Features

  • Transfer money from IndusInd Bank IBU GIFT City using any of the following routes:
    • Reach out to your Relationship Manager
    • Branch: Simply walk into our branch (IBU Gift City Branch) and place a money transfer request.
  • Account Operation- The account can be operated as a single / Joint account
  • Interest Rate – Interest is not paid on Current Account balances

Overview

  • Welcome to Indus Global Banking – Premium Global Banking for truly Global citizens.
  • The program offers banking solutions for Non-resident Indians looking for a Savings Account and Deposit in freely convertible foreign currency.
  • Indus Global Banking offers Savings Account ( in USD) and Fixed Deposits (in USD, GBP and EURO).

Products & Offerings

Benefits

  • No Minimum Balance required
  • Savings Account (in USD) and Fixed Deposits ( in USD, GBP and EURO) to help you transact and earn competitive interest.
  • Servicing Channels, online platforms and dedicated Relationship Manager to assist with transaction requirements

Eligibility

  • Non Resident Indian Individuals

Documentation

  • Account Opening Form.
  • Photocopy of the pages of the passport containing passport details and personal details.
  • Recent passport photograph
  • Copy of valid proof of NRI status - Resident permit / Work permit/ Employment Visa/ others
  • Document confirming either overseas or Indian address.

Please note: All documents are required to be self-attested. In case of Non Face to face account opening documents need to be certified by any one of the following:

  • Authorised officials of overseas branches of Scheduled Commercial Banks registered in India,
  • Branches of overseas banks with whom Indian banks have relationships,
  • Notary Public abroad, Court Magistrate, Judge.
  • Indian Embassy/Consulate General in the country where the non-resident customer resides

Interest Rates

*Refer Interest Rate

Reach Us

     

Call Us

Country Toll-Free Number
United Kingdom 08000478670
United States of America 18337666682
United Arab Emirates 8000183019
Canada 18337666683
Australia 1800317547
India 18602677777
Any other Country Outside India Within India
All customers 022-44066666 18602677777
Premium Banking / Credit Cards 022-42207777 18602677777

Swift Details for Funding

Fund your newly opened Account using steps below:
  • In case you have an existing IndusInd Bank Savings Account (INR), please visit www.indusforex.com to transfer funds to your Indus Global Account
  • If you do not have an existing IndusInd Bank Savings Account (INR)
    • Visit your local/Overseas Bank Branch or the Online Banking Platform of your remitting Bank
    • Complete the Transfer From by providing your Account Details
    • Provide IBU Gift City Correspondent Bank's Nostro details

Earn competitive interest with Fixed Deposits (in USD, GBP and EURO)
  • For Rate of Interest for Term Deposits upto USD 9,99,999, Please Click Here for details
  • For Rate of Interest for term deposits greater than or equal to USD 10,00,000 or equivalent, please reach out to your Relationship Manager
  • GIFT City FD Terms & Condition: Click Here
  • Global Remittances (Eligible inward and outward remittances)
  • Term Loans and Working Capital Demand Loans
  • External Commercial Borrowing needs
  • Trade Finance Products
  • Letter of Credit (LC), LC advising, Collections, Remittances, Invoice Discounting, Export Bill Discounting, Factoring & Reverse Factoring (with and Without Recourse), Buyers Credit, Suppliers Credit, BG Issuance & SBLC Issuance
  • Schedule of Charges
  • FX – Spot, Swap & Forwards
  • Derivatives: FX & IR – Options, Swaps & NDDCs
  • Fixed Income – US Treasuries & USD Corporate Bonds

Settlement Instructions for SWIFT (Correspondent Bank Detail)

Click here to check the details.
 

Contact us

 
 
  • Working Hours: 9:15 AM to 6:15 PM (5 Days working) Sat & Sun off
 
 

Mobile Banking App Download

Android
Apple

Frequently Asked questions (FAQ)

1. What is Gujarat International Finance Tec-City (GIFT City)?

GIFT City is being developed as a global financial and IT Services hub. The purpose of setting up the GIFT City is to develop a world-class smart city that becomes a global financial hub with the development of an IFSC. GIFT City is a central business hub with state-of-the-art infrastructure and first of its kind operational smart city in India. GIFT City is home to domestic and international, financial services and IT/ ITES sectors.

2. What is International Financial Service Centre (IFSC)?

International Financial Services Centre (IFSC) is established to cater to customers outside the jurisdiction of the domestic economy. International Financial Services Centre Authority established under International Financial Services Centres Authority Act, 2019. The main objective of the IFSCA is to develop a strong global connect and focus on the needs of the Indian economy as well as to serve as an international financial platform for the entire region and the global economy as a whole.

3. What are the facilities provided by IndusInd Bank IFSC Banking Unit?

IndusInd Bank IBU GIFT City offers
  • Retail and Corporate Banking services to Non Resident Indians including Current Account, Savings Account, Term Deposits, Loan against Deposits
  • Credit facilities (Term Loans, ECBs to resident / non-resident Indian entities, Working Capital etc.)
  • Cross Border Remittance facilities
  • Treasury products and services
  • Trade Finance products
  • Others

4. Can IndusInd bank, IBU open current/saving accounts for companies & Individuals?

Current, Savings or term deposits can be opened, held and maintained in a freely convertible foreign currency (USD/EURO/GBP/ as approved by Bank) by an individual & non individuals subject to such conditions as may be specified by the IFSCA. However, cash transactions are not permitted.

5. Are the deposits of the IBU covered by deposit insurance in India?

No, the deposits of IBUs are not covered by deposit insurance in India.

6. Can an IFSC entity open INR account in India?

IFSC Entities can open SNRR account for meeting their administrative expenses.

Global Disclaimer

This material is for general informational purposes only and is not investment advice nor does it constitute an offer, recommendation or solicitation to buy or sell a particular financial instrument. It does not have regard to the specific investment objectives, financial situation, risk profile or the particular needs of any specific person who may receive this material. No representation is made that the information contained herein is accurate in all material respects, complete or up to date. Recipients of this document are to contact the representative in their local jurisdiction with regards to any matters or questions arising from, or in connection with, the document.
The information contained herein is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would be contrary to applicable law or regulation or which would subject IndusInd Bank to additional licensing or registration requirements. It may not be copied, reproduced, posted, transmitted or redistributed in any form without the prior written consent of IndusInd Bank.
IndusInd Bank has a representative offices in London, Dubai and Abu Dhabi which should be contacted for any general enquiry related to IndusInd Bank or its business. In the United Kingdom and in the United Arab Emirates, IndusInd Bank does not hold licenses to conduct business in financial services, it is not our intention to, and the information contained in this document should not be construed as, conducting any regulated financial activity, including dealing in, or the provision of advice in relation to, any regulated instrument or product. This publication is for general information only, without addressing any particular needs of any individual or entity, and should not be relied upon without obtaining specific advice in the context of specific circumstances.