| Name of the Scheme | Description | Interest Rate Trends |
| All the Scemes are for Non- Resident Indians only | ||
| FCNR | About the Scheme | |
| Foreign Currency(Non-Resident) Bank Accounts | This is a Fixed Deposit kept in US dollars,
British Pounds, German Marks,Euro or Japanese Yen and insulated from exchange risk. The period of deposits varies from 6 months to 36 months.No, cheque book facility will be available.Interest is payable at 6 monthly intervals. Deposit and interest earned are exempted from Indian tax. Principal and interest fully repatriable. |
Interest rates vary depending on Currency and
period of deposit. Present trends are US $ 4.50% to 5.00% GBP 4.75% to 5.75% DM 2.50% to 3.25% Euro 2.25% to 3.25% Yen 0.25% to 0.75% |
| NRNR | About the Scheme | List of top 10 banks |
| Non Resident Non Repatriable Rupee Deposit Account | This is a Fixed Deposit kept in Indian Rupees. It is subject to exchange risk. The period of deposits varies from 6 months to 36 months.No, cheque book facility will be available.Interest is payable at 3 monthly intervals. Deposit and interest earned are exempted from Indian tax. Principal is not repatriable. Only interest is fully repatriable.
|
Interest rates vary depending on period of deposit. Present trends show interest rates varying from 7.5% to 11.5% |
| NRE | About the Scheme | List of top 10 banks |
| Non Resident(External) Rupee Account | Money under the scheme can be kept in
Savings Bank or Fixed Deposit, It is maintained in Indian rupees and is subject to
exchange risk. The period of deposits 6 months and above. Cheque book facility is available for Savings Bank.Interest is payable at 3 monthly intervals. Deposit and interest earned are exempted from Indian tax. Principal and interest are fully repatriable.
|
Interest rates vary depending on period of deposit. Present trends show interest rates varying from 7.5% to 11.5% |
| NRO | About the Scheme | |
| Ordinary Non Resident Rupee Account | Money under the scheme can be kept in
Savings Bank or Fixed Deposit, It is maintained in Indian rupees and is subject to
exchange risk. The period of deposits 46 days and above. Cheque book facility is available for Savings Bank.Interest is payable at 3 monthly intervals. Deposit and interest earned are subject to Indian tax. Principal is not repatriable. Interest is repatriable as per Reserve Bank of India's prescribed limits. |
Interest rates vary depending on period of deposit. Present trends show interest rates varying from 7.5% to 11.5% |
| RFC | About the Scheme | |
| Resident Foreign Currency Account | This is a Fixed Deposit kept in Foreign
Currency and insulated from exchange risk. The period of deposits is flexible..No cheque book facility will be available.Interest is payable at monthly intervals. Interest earned is subject to Indian tax. Principal and interest fully repatriable for bonafide purposes as approved by Reserve Bank of India,. |
Interest rates vary depending on period of deposit. The rates are linked to LIBOR and priced below LIBOR. |