Wondering about
YES Bank FCNR rates
? YES Bank offers competitive Foreign Currency Non-Resident (FCNR) deposit rates for Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs). FCNR accounts allow NRIs to deposit foreign currency in India while earning tax-free interest.
What is the FCNR Rate YES Bank?
These deposits are available in multiple currencies, including the US Dollar (USD), Euro (EUR), British Pound Sterling (GBP), Japanese Yen (JPY), Canadian Dollar (CAD), and Australian Dollar (AUD), among others.
The YES Bank FCNR interest rates vary depending on the currency and the tenure of the deposit. For deposits in USD, the rates range from 5.70% for a 1-2 year tenure to 4.40% for a 5-year tenure.
For GBP, the rates range from 5.65% for 1-2 years to 4.00% for 5 years. Euro deposits yield between 3.65% for 1-2 years and 2.00% for 4-5 years. The bank offers rates for other currencies such as CAD, AUD, and SGD as well.
One of the key advantages of FCNR deposits at YES Bank is that the interest earned is entirely tax-free in India, and both the principal and interest amounts are fully repatriable.
This makes it an attractive option for NRIs looking to save in foreign currencies without worrying about exchange rate fluctuations or taxation in India. The tenure for these deposits ranges from 1 to 5 years, providing flexibility to investors based on their financial planning needs.
YES Bank's FCNR deposits are a secure and beneficial way for NRIs to invest their foreign earnings in India while taking advantage of high interest rates and tax exemptions. This is all about the FCNR deposit rates YES Bank
.
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What is FCNR Account: Meaning, Full Form, Advantages & Disadvantages?
Authors Of The Question
What is Yes Bank FCNR Rates?
shagun
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27 days
2024-08-16T12:05:19+00:00 2024-08-16T15:21:38+00:00Comment
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