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About RBL Bank GIFT Branch

RBL GIFT Branch, is an overseas branch of RBL Bank, commenced operations in April 2017 and has been providing a wide range of Banking Services. The branch caters to the Indian and Global customer base, with a wide suite of products and services including Deposits, Loans and Advances, and Treasury Services.

About GIFT International Financial Services Centre (IFSC)

Gujarat International Finance Tec IFSC (GIFT IFSC) is established in the state of Gujarat and on the banks of the river Sabarmati. GIFT IFSC is a globally benchmarked International Financial Service Centre (IFSC) with International Financial Services Center Authority (IFSCA) as the Unified Regulator.

IFSC as envisaged in Indian context is a jurisdiction that provides financial services to non-residents and residents, to the extent permissible under the current regulations, in foreign currencies except Indian Rupee.

IFSC is designated as a location having the same eco system as an off-shore location, which is physically present on Indian soil. With proactive rules, competitive tax regime and a conducive legal system, the IFSC facilitates setting up Offshore Financial Services and is able to attract a substantial offshore business of Indian clients, which otherwise is transacted in locations such as Singapore, Dubai, Mauritius, Malaysia, Hong Kong, London, New York etc.

https://www.giftgujarat.in/

About IFSCA

IFSCA has been established as a unified financial regulator by the Government of India under the IFSCA Act, 2019 and is mandated to develop and regulate Financial Institutions, Financial Services and Financial Products in the International Financial Services Centre (IFSC) in India.

https://www.ifsca.gov.in/

Loans and Advances

To Offshore Entities

  • Foreign Currency Term Loan

  • Foreign Currency Working Capital Loans

  • Bank Guarantees

  • Letters of Credit

To Onshore Entities

  • External Commercial Borrowings

  • Trade Finance Solution

Accounts and Deposits

Current Account

  • For entities operating in GIFT – IFSC

  • Offshore Entities

  • Eligible Onshore Entities

Term Deposits

  • Regular Term Deposits (With premature withdrawal facility)

    • For entities operating in GIFT – IFSC

    • Offshore Entities

    • Non-Resident Indians

    • Foreign Nationals

  • Non-Callable Term Deposits (Without premature withdrawal facility)

    • For entities operating in GIFT – IFSC

    • Offshore Entities

Special Non-Resident Rupee (SNRR) Account

  • For entities operating in GIFT – IFSC

Treasury Products

  • Currency Conversion (Cash/Tom/Spot)

  • Fx Forwards (Deliverable)

  • Non-Deliverable Forwards (NDF)

  • Interest Rate Swaps (IRS) & Cross Currency Interest Rate Swaps (CIRS)

  • Cross Currency Swaps (CCS) & Principal only Swaps (POS)

Regular Term Deposits (With premature withdrawal facility)

Attention of customers/public is invited on the changes in interest rates Fixed Deposits w.e.f. October 01, 2024:

   Rate of Interest % per annum   

   For All Customers  

    Tenor   

  USD   

   EUR   

   GBP   

   7 days to 30 days   

4.35%

2.75%

3.25%

   31 days to 90 days   

4.90%

3.00%

3.40%

   91 days to 120 days   

4.80%

2.70%

3.20%

   121 days to 180 days   

4.75%

2.50%

3.10%

   181 days to 270 days   

4.40%

2.20%

3.00%

   271 days to 364 days   

4.15%

2.00%

3.00%

   12 months to less than 24 months   

3.50%

1.90%

2.90%

   24 months to less than 36 months   

3.00%

1.40%

2.60%

   36 months to less than 60 months   

3.25%

1.00%

2.50%

   60 months   

2.50%

0.65%

2.25%

Note:

  • Term Deposits are acceptable for a minimum period of 7 days and maximum period of 5 years.
  • On pre-mature withdrawal of the deposit penalty would be charged at 100 bps or equivalent to contractual interest rate of the deposit 
whichever is lower for the period of deposit. Please ask the Branch staff / Relationship Manager for more details.
  • Interest rates for Term Deposits are subject to change every month and as per the guidelines issued by regulators from time to time.
  • Applicable interest rates will be given as on the date of receipt of clear funds by the bank.

 

 

Non-Callable Term Deposits (Without premature withdrawal
facility)

Attention of customers/public is invited on the changes in interest rates Fixed Deposits w.e.f. November 12, 2024:

 Tenor 

 Non-Callable Deposit Rates  

  For All Customers  

 Tenor 

 Above USD 0.5mn up to USD 10mn  

 Above EUR 0.5mn up to EUR 10mn  

 Above GBP 0.5mn up to GBP 10mn  

 91 days to 120 days  

5.05%

 3.00%  

 3.90%  

 121 days to 180 days  

4.90%

 3.20%  

 4.25%  

 181 days to 270 days  

4.50%

 3.30%  

 4.65%  

 271 days to 364 days  

4.20%

 3.35%  

 4.70%  

 12 months to less than 24 months  

3.80%

 3.10%  

 4.25%  

 24 months to less than 36 months  

 3.25%  

 3.00%  

 3.75%  

 36 months to less than 60 months  

 3.30%  

 1.50%  

 3.50%  

 60 months  

3.00%

 1.50%  

 3.00%  

Note:

  • Non-Callable Term Deposits are acceptable for a minimum period of 91 days and maximum period of 5 years and for a minimum amount 
of USD 500,000.
  • No pre-mature withdrawal of the non-callable deposit is permitted. Please ask the Branch staff / Relationship Manager for more details.
  • Applicable interest rates will be given as on the date of receipt of clear funds by the bank.
  • Non-Callable Term Deposits is available for Offshore Entities and Entities operating in GIFT – IFSC.

Schedule of Charges Effective from November 05, 2024

Segment & Description of Charges Charges/Amount
1 Opening of L/C
1.1 Commitment Charge + Usance charges Commitment 0.30% p.a. till expiry + Usance 0.40% per quarter or part thereof subject to a minimum of USD 200
1.2 LCs issued against 100% cash margin Commitment 0.20% p.a. till expiry + Usance 0.30% per quarter or part thereof subject to a minimum of USD 100
1.3 Acceptance of overdrawn bills under LC 0.40% per quarter or part thereof
1.4 SWIFT Charges USD 30
2 AMENDMENT
2.1 Extension of validity of L/C or Value Enhancement 0.40% per qtr. Or part thereof Subject to a Minimum of USD 100
2.2 Any other amendment ( Non-Financial) USD 50
2.3 Revival of expired LCs on receipt of documents under LC Penal Rate of 0.40% per qtr. Or part thereof subject to a Minimum of USD 50 (charges should be recovered only for bill amount from LC expiry date till presentation date)
2.4 Draft LC issuance USD 20 per draft of LC
3 COMMISSION ON IMPORT BILLS RECEIVED UNDER L/C
3.1 Bills received under L/C 0.125% Minimum USD 30 or as approved in the CAM/DN
4 DOCUMENTS RECEIVED UNDER L/C
4.1 Discrepancy charges USD 75 or its equivalent per discrepant document to A/C of Beneficiary
5 MISCELLANEOUS  
5.1 Untested Messages (MT 999) – SWIFT USD 20
5.2 Courier Charges for Documents (International) USD 20 PER COURIER
5.3 Courier Charges for Documents (Domestic)- Within India USD 10 per courier
5.4 Custody charges for overdue bills USD 10 per quarter or part thereof for each bill, if the bill is not paid within 10 days from the due date/date of presentation.
5.5 True Copy certification - Invoices/ LC Copy & Other Miscellaneous Certifications/ Duplicate Advice. USD 10 Per document being certified. Maximum USD 100
5.6 Credit opinion report’s procurement At actuals
6 Remittances  
6.1 Remittance Outward (Client initiated – CHG OUR) USD 20/EUR 20/GBP 20/JPY 2,000/SGD 20
6.2 Remittance Outward (Client initiated – CHG BEN / SHA) USD 5/EUR 5/GBP 5/JPY 5,000/SGD 5
6.3 Remittance Outward (Bank initiated) NIL
6.4 Inward Remittance NIL
6.5 Certificates other than Annual Balance Confirmation USD 10 per certificate
7 EXPORT BILLS for Collection (For bills sent on collection by the Bank/Overseas Buyer/Agent)
7.1 Both Foreign Currency and Rupee Export Bills lodgment & regularization Commission 0.0625%
Minimum USD 50/EUR 50/GBP 50/JPY 5,000/SGD 50
7.2 LC Advising USD 50/EUR 50/GBP 50/JPY 5,000/SGD 50
7.3 Advising of LC amendment USD 20/EUR 20/GBP 20/JPY 2,000/SGD 20
7.4 Return of documents/Dishonor USD 100/EUR 100/GBP 100/JPY 10,000/SGD 1000
7.5 Overdue charges for Export Bills USD 25 Per Month (After due date subject to condition that customer has not submitted extension of due date)
8 Import Bills
8.1 Import Advance/Direct Remittances 0.125% with a Minimum of USD 10/EUR 10/GBP 10/JPY 1,000 and Maximum of USD 50/EUR 50/GBP 50/JPY 5,000/SGD 50
8.2 Import Bills received directly by Importers from Overseas Suppliers/Bank. 0.125% with a Minimum of USD 10/EUR 10/GBP 10/JPY 1,000 and Maximum of USD 50/EUR 50/GBP 50/JPY 5,000/SGD 50
8.3 Swift Charges for Remittances USD 20/EUR 20/GBP 20/JPY 2,000/SGD 20
8.4 Dishonored Import Bills/ Return Charges USD 50/EUR 50/GBP 50/JPY 5,000/SGD 50
8.5 Issue of Delivery Orders (Bills under LC and Collection) USD 20/EUR 20/GBP 20/JPY 2,000/SGD 20
8.6 Overdue Charges of Import Bills USD 25 Per Month (After due date)
9 Bank Guarantee/SBLC
9.1. SBLC / Guarantee Issuance As Approved in CAM /DN or 0.50% per qtr. Or part thereof, subject to a minimum of Rs. USD 50
9.2 Amendment Charges As applicable for issuance of BG subject to minimum of USD 50
9.3 SWIFT Charges USD 30
9.4 SBLC/BG Advising Charges USD 50
9.5 SBLC/BG Amendment Advising USD 20
9.6 Credit Opinion Report Procurement At actuals

Note:

  • Specific pricing conditions approved in Credit Approval Memo /captured in Disbursement Notice/ applicable to a specific product scheme shall supersede standard schedule of charges.
  • Stamp duty charges applicable in the respective states as per Government regulations from time to time will be recovered wherever applicable.

GIFT Branch Office address

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