What Should You Know About FCNR Deposits And Their Benefits

Are you an NRI looking to invest in a Fixed Deposit in India? The Foreign Currency Non-Resident (FCNR) Account can be a suitable choice. Know what it is.

The FCNR Account is a deposit account that allows investment in foreign currencies. So, FCNR gives you the avenue to invest your foreign income in India.

The accepted currencies include the US Dollar (USD), Great Britain Pound (GBP), Euro(EUR), Australian Dollar (AUD) and Singapore Dollar (SGD), among others.

You can open the account together with a resident Indian, another NRI or Person of Indian Origin (PIO).

The amount deposited and the interest earned is completely tax-exempt in India. Plus, you can fully and freely repatriate the balance in the FCNR Account

Your deposits can range from a minimum of 1 year up to 5 years! You can deposit money via foreign remittances or account transfers and enjoy guaranteed interest!

Open an FCNR Account with Metra Trust with tenures ranging from 1 to 5 years. Get guaranteed interest up to 5.85% on your deposits.