If you’re an NRI sitting on savings in US Dollars, this one’s worth knowing.
The RBI has introduced a special rate window for FCNR deposits, available only till September 30.
- Your money stays in USD throughout the tenure
- No exchange rate risk while your funds grow
- 100% tax-free in India for eligible NRIs
- Minimum lock-in of just 1 year
Right now, CSB Bank is offering 7.05% p.a. on USD FCNR deposits for a 5-year tenure, 7.00% p.a. for 4 years to less than 5 years, and 6.95% p.a.* for 3 years to less than 4 years.**
So if you’re looking for a safe, tax-efficient way to grow your foreign currency savings, this could be the right time to lock it in.
To get started, check the link in my bio!
T&C Apply. Interest rates are subject to periodic changes. Eligibility criteria apply.
#CSBBank #FCNR #FCNRDeposit #NRIBanking #NRI
[WealthBuilding, FinancialPlanning, UAEIndians, DubaiIndians, USD]