hello NRIs

[tables]

did you invest in mutual funds or FDs in India? if yes can we open account from here in USA? or do we need to be present in India to open account.

[FrustratedVuncle]

Just now, tables said:

did you invest in mutual funds or FDs in India? if yes can we open account from here in USA? or do we need to be present in India to open account.

Invested in SCs and Casinos here. They were full profits. 

[tables]

2 minutes ago, FrustratedVuncle said:

Invested in SCs and Casinos here. They were full profits. 

yeah..SCs lo nenu kuda full invested.

chala money spend chesanu but I don't repent. enjoy chesanu aa phase kuda life lo. now getting serious in terms of money so looking for advice.

[tables]

calling @hyperbole  @Android_Halwa

[Spartan]

SBI lo petti...term avvakamunde tesesa..pedda growth em lekunde.

but if you hold it for 30 yrs (5yr investment)..manchi returns vastai...

India lo vadukunte its tax free, baitaki teste US lo tax kattali

[Android_Halwa]

4 hours ago, tables said:

did you invest in mutual funds or FDs in India? if yes can we open account from here in USA? or do we need to be present in India to open account.

FD’s aithe you can open NRI account from abroad and operate. 
 

Icici bank and Axis bank have one of the easier and simplest way of opening accounts…antha online lo ne ayipotadi. Once you have your accounts open, you can self invest in FD’s without anyone’s intervention. 
 

FD mida vachina interest nominal and TDS cut ayitadi…malli annual It return file cheyali..better india la parents peru mida FD veyadam better.

[bulreddy]

33 minutes ago, FrustratedVuncle said:

Invested in SCs and Casinos here. They were full profits. 

[Konebhar6]

1 hour ago, tables said:

did you invest in mutual funds or FDs in India? if yes can we open account from here in USA? or do we need to be present in India to open account.

I would advise not to. 

Recently (2months) lo chala changes vachai. ICICI is not even allowing me to sell my Stock holdings in India. Some restriction. Need to read the circular and what I need to do.

If you are an NRI, esp if you have NRI DMAT account, I dont think you can buy MF's in india. 

Y not invest in USA? If you need to invest in india, open an account on your dad/moms name but again its creating problems for yourself in future.

[JackSeal]

2 hours ago, tables said:

did you invest in mutual funds or FDs in India? if yes can we open account from here in USA? or do we need to be present in India to open account.

Mutual Funds: Yes

FD: Yes

FD: HDFC Bank NRO getting around 7% interest

Mutual Fund: SBNRI ani oka app vundhi, did KYC process with them. Invested in Mutual Funds (Regular) through them for a month. Once email is registered and KYC is done. Then installed kfinkart app logged in using registered kyc email and switched all mutual funds from regular to direct and started a SIP and its going on.  KFINKART app lo all mutual funds data is accessible you can buy sell and start SIP

Only few mutual fund houses accept US NRI's like UTI, NIPPON, Quant, Aditya Birla etc.

Note: you need to have NRO/NRE account to do KYC

[JackSeal]

35 minutes ago, Konebhar6 said:

I would advise not to. 

Recently (2months) lo chala changes vachai. ICICI is not even allowing me to sell my Stock holdings in India. Some restriction. Need to read the circular and what I need to do.

If you are an NRI, esp if you have NRI DMAT account, I dont think you can buy MF's in india. 

Y not invest in USA? If you need to invest in india, open an account on your dad/moms name but again its creating problems for yourself in future.

Most of the india flexi cap and hybrid mutual funds have returns more than 20% per year some even touched 30-40% in long term (5-10yrs). If you have a plan to go back then split between USA and India.

[LakshmiParvathii]

1 hour ago, Android_Halwa said:

FD’s aithe you can open NRI account from abroad and operate. 
 

Icici bank and Axis bank have one of the easier and simplest way of opening accounts…antha online lo ne ayipotadi. Once you have your accounts open, you can self invest in FD’s without anyone’s intervention. 
 

FD mida vachina interest nominal and TDS but ayitadi…malli annual It return file cheyali..better india la parents peru mida FD veyadam better.

@Android_Halwa nuvvu ivvu ra 100k chestha FD

[Konebhar6]

2 minutes ago, JackSeal said:

Most of the india flexi cap and hybrid mutual funds have returns more than 20% per year some even touched 30-40% in long term (5-10yrs). If you have a plan to go back then split between USA and India.

I would love to invest my money in india in indian MFs. However the problem is ..

Being an NRI, I cannot invest in MF's in NRI DMAT accounts. They have added different taxation rules which i have yet to read.

I could open an account on parents name, but again, they have to file IT returns every year. Ado problem.

That's why to keep life simple, I am investing here.

[Android_Halwa]

2 hours ago, Konebhar6 said:

I would love to invest my money in india in indian MFs. However the problem is ..

Being an NRI, I cannot invest in MF's in NRI DMAT accounts. They have added different taxation rules which i have yet to read.

I could open an account on parents name, but again, they have to file IT returns every year. Ado problem.

That's why to keep life simple, I am investing here.

Isn't it that better ? Especially when IT exemption limit is increased to senior citizens and preferred interest rate , I think it’s better especially fixed deposits to be opened on parents name and add beneficiary and file IT returns. 

[Konebhar6]

7 minutes ago, Android_Halwa said:

Isn't it that better ? Especially when IT exemption limit is increased to senior citizens and preferred interest rate , I think it’s better especially fixed deposits to be opened on parents name and add beneficiary and file IT returns. 

Absolutely better. I am trying to be a better son , they are getting aged, so not trying to bother them. We do have a person who files IT returns, but still. I do have fixed deposits on their name and they collect TDS but dad's like - I dont want to file taxes even though i know i can get that money back.