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IndusInd bank FCNR rates
. IndusInd Bank offers Foreign Currency Non-Resident (FCNR) deposit accounts for NRIs, providing attractive interest rates across multiple currencies.
What are the FCNR Rates Indusind Bank?
As of August 2024, the FCNR deposit rates Indusind Bank vary based on the currency and the tenure of the deposit. Here are some key details:
US Dollar (USD): For a tenure of 1 to 2 years, the interest rate is approximately 4.50% per annum. For deposits between 2 and 3 years, the rate increases to around 4.55%, and for 3 to 5 years, it’s about 4.60% per annum.
British Pound (GBP): The interest rates for GBP deposits range from 4.20% to 4.30% per annum, depending on the tenure.
Euro (EUR): Euro deposits earn interest rates between 3.00% and 3.10% per annum.
Japanese Yen (JPY): The rates for JPY deposits are relatively lower, around 0.25% to 0.35% per annum.
Australian Dollar (AUD) and Canadian Dollar (CAD): Both these currencies have interest rates ranging from 3.25% to 3.50% per annum, depending on the tenure.
IndusInd Bank’s FCNR accounts offer benefits such as tax exemption on the interest earned, protection against currency exchange rate fluctuations, and the ability to repatriate both principal and interest freely. The interest is compounded every 180 days, enhancing returns over time.
These accounts are particularly beneficial for NRIs who wish to earn in foreign currency while enjoying the flexibility of repatriating their funds without any hassle.
Moreover, IndusInd Bank provides an easy online application process, making it convenient for NRIs to open and manage their FCNR accounts. This is all about FCNR interest rates Indusind Bank
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Authors Of The Question
What is IndusInd Bank FCNR Rates?
Manu
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1 Answers
5 months
2024-08-16T12:07:26+00:00 2024-08-16T15:22:43+00:00Comment
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