OCI (Overseas Citizenship of India) cardholders are foreign citizens of Indian origin who have been granted the right to live and work in India indefinitely. OCI cardholders are eligible to open bank accounts in India, and there are two types of OCI accounts available in India:

1. OCI Savings Account: An OCI savings account is a regular savings account designed for OCI cardholders who want to save their money in India. This account is held in Indian rupees and can be opened jointly with another OCI cardholder or a resident Indian. The account comes with features such as ATM withdrawals, online banking, and check writing. Interest earned on the OCI savings account is subject to tax deduction at source (TDS).
2. OCI Fixed Deposit Account: An OCI fixed deposit account is a fixed deposit account held in Indian rupees, and it can be opened for a period ranging from 7 days to 10 years. The account can be opened jointly with another OCI cardholder or a resident Indian, and the funds in the account are fully repatriable, which means they can be freely transferred abroad without any restrictions. Interest earned on the OCI fixed deposit account is tax-free in India.

These are the two types of OCI accounts available in India, and OCI cardholders can choose the account that best suits their financial needs and goals. It is important to note that OCI cardholders cannot open an NRE, NRO, or FCNR account in India, as these accounts are specifically designed for Non-Resident Indians (NRIs).