Would n't you tend to lose money by investing in India as the Indian Rupee is sliding down ?
I think in case of NRE FDRs they hold the money in USD / CAD and they would refund you in USD/CAD regardless of how much Re has slid against the USD/CAD for the period ....
Is this correct ?
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Fido.
Quote:
Originally posted by Fido
Would n't you tend to lose money by investing in India as the Indian Rupee is sliding down ?
I think in case of NRE FDRs they hold the money in USD / CAD and they would refund you in USD/CAD regardless of how much Re has slid against the USD/CAD for the period ....
Is this correct ?
Can I open an NRE a/c in one of those banks? I have been in India for a year now. I have an NRE a/c in a public sector bank but that does not pay interest like these private banks. I have canadian passport/OCI etc. The interest rates offered by the banks are really good.
KM
Quote:
Originally posted by ashedfc
HDFC Bank offers 9% interest on NRE deposits
The bank now offers non-resident Indians the same deposit rates as offered to resident Indians.
http://profit.ndtv.com/News/Article/hdfc-bank-offers-9-interest-on-nre-deposits-294594</font>
Thanks a lot ashedfc for this new information. It has given me a pointer to "YES BANK", which offers 9.6 % on deposits up to 15 lakhs for a period of 16 months.
HDFC is not giving that upto 1 crore. Their 9 % is for deposits above Rs. 1 crore. Itne dollars kab ayenge yaar, he he.
9.6 % and that too repatriable, sounds just perfect. I have just registered with them and they would call me back I think. I will have all the questions answered. I would post it here for every one's benefit.
Regards,
VJ.
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