FCNR deposit

[AlaElaAlaEla]

FCNR India deposits are giving - 3.4% return for 1 year on US money. 

AMEX and Marcus - 2.5% for 1 year

Anyone using FCNR ?

[pahelwan]

endi vaya ee FCNR ante. India la emina acct open cheyalna?

[Amrita]

Just now, pahelwan said:

endi vaya ee FCNR ante. India la emina acct open cheyalna?

Your money will be dollars and will be in terms of fixed deposits. Edi fixed deposit accounts. Rate of interest koncham better ga untayi . 

[Peddayana]

1 hour ago, AlaElaAlaEla said:

FCNR India deposits are giving - 3.4% return for 1 year on US money. 

AMEX and Marcus - 2.5% for 1 year

Anyone using FCNR ?

Crypto lo one day lo vasthdhi aa return , one day lo deeni kante double potundi kuda

[pahelwan]

1 minute ago, Amrita said:

Your money will be dollars and will be in terms of fixed deposits. Edi fixed deposit accounts. Rate of interest koncham better ga untayi . 

ICICI vadu 7.4% istunadu ga interest for 330 days

[pahelwan]

1 minute ago, Peddayana said:

Crypto lo one day lo vasthdhi aa return , one day lo deeni kante double potundi kuda

matta lo crypto 

[Amrita]

2 minutes ago, pahelwan said:

ICICI vadu 7.4% istunadu ga interest for 330 days

Money will be in dollars so conversion issue avi undav. I do not have 100% idea though. My family members have it in FCNR so assuming this is more profitable investment. Ltt for better replies.

[Merabharathmahan]

Problem with these accounts like FCNR and NRE/NRO are you need to start filing fbar,  fatca  every year if u have more than $10K in your account. 

[AlaElaAlaEla]

3 hours ago, Amrita said:

Money will be in dollars so conversion issue avi undav. I do not have 100% idea though. My family members have it in FCNR so assuming this is more profitable investment. Ltt for better replies.

yes money will be in US dollars and it’s fully repatriable meaning no conversion rate fluctuations.

Yes it’s better than any deposit rates you get with US money.