ICICI Bank offers 9.75% FD rate to NRIs
started by nihaan 3 mnths agoFlat
Nested
Replies
Dr. Rakshak Mal Lodha posted Re:ICICI Bank offers 9.75% FD rate to NRIs on 2 mnths agoMost of Indian Banks offers same rate to all but if any NRI person opens NRI account then any Bank will not offer such FD rate but if NRI person opens accout of NRO then Indian Bank shall offer as you stated but in Bank will cut advance Income Tax [TDS] then the NRI persons have to file Income Tax return in India to take TDS if so
- Reply
- Report Abuse
If we need money in US what is best option of FD
i've done icici in the past and its not bad. they expressed it over in a week via DHL when i wanted to repatriate.
there are other banks also offering 9.75%. I found these at Ratekhoj.com which is an excellent site to compare fixed deposit rates in India both for residents and NRIs
How is it good if inflation rate is running at ~12%? If inflation remains unabated, INR will collapse to Rs 50 to a USD...of what use is ~10% interest at that point?
Inflation in India does not effect me in US. Forex rate does. with weakening USD, u think it will be Rs 50 level?
> Inflation in India does not effect me in US. Forex rate does. with weakening USD, u think it will be Rs 50 level?
Inflation in India does affect the exchange rate. Unless the US also goes through high inflation at the same time (which is unikely but possible), I think 45-47 is likely, perhaps 50 too, as DC says. That woud mean 10% of the value wiped out due to the rate changes in a matter of months.
Inflation in India does affect the exchange rate. Unless the US also goes through high inflation at the same time (which is unikely but possible), I think 45-47 is likely, perhaps 50 too, as DC says. That woud mean 10% of the value wiped out due to the rate changes in a matter of months.
I know one extremely brilliant colleague. When I was single and decided to purchase a house (those days, interest rates were high), he claculated how much I would be paying for my mortgage, the effect of inflation, etc., and laughed at me. He rented a place, enjoyed going to different upscale restaurants, dating goodlooking chicks, etc. Now I own a pretty decent house and don't have a mortgage to pay. He, in his old age, realized that he needs a wife (no one wants to date him, looks like) and a house. Unfortunately, he doesn't have any money saved!
hmm
it is a tuff question.but i feel that life should be enjoyed in young age ..and not in old age..old age is suffering any ways..
it is a tuff question.but i feel that life should be enjoyed in young age ..and not in old age..old age is suffering any ways..
LOL. What makes you think I didn't enjoy life?
Unfortunately, Mr. brilliant doesn't have any money for down-payment on an apartment where he wants to live as a retiree (he is also bitterly complaining that apartments are unrealistically over-priced - he is still calculating inflation, etc.).
Unfortunately, Mr. brilliant doesn't have any money for down-payment on an apartment where he wants to live as a retiree (he is also bitterly complaining that apartments are unrealistically over-priced - he is still calculating inflation, etc.).
> What makes you think I didn't enjoy life?
Can I take a guess? Can I? Perhaps he doesn't understand the unique joys that videocamera ownership and YouTube access can bring to p-sat's life.
Can I take a guess? Can I? Perhaps he doesn't understand the unique joys that videocamera ownership and YouTube access can bring to p-sat's life.
>> What makes you think I didn't enjoy life?
He may have been misled by your earlier confession that you never mounted a woman, perhaps? Entirely wrong and very narrow-minded of him to conclude that way.
In your estimation enjoying = mounting? You are brilliant, as usual.
Give it a rest and focus on the topic.
Good advice. My point is, it is smarter to start building assets while one is still young. People who over-analyze only to become inactive in the investment area are prone to pay a heavy price as they get older.
" People who over-analyze only to become inactive in the investment area are prone to pay a heavy price as they get older."
now if only we could get you to stick to giving sound advise such as this.
now if only we could get you to stick to giving sound advise such as this.
Be careful! You may think "sound" is an innocuous word. Merlot may disagree with you on that! LOL
why you taking potshots? didnt we just agree that you provide sound advise? what did you invest in and how did it work out for you? and no obscure lecture on the effects of juxtaposing dr PBUH with dkheads/pseudoseculars on world economy. just straight up info would be appreciated.
oh ok. Thanks. Inflation is not the only factor weakening a currency. If inflation makes INR in abundant supply, US has other reasons (not inflation) to make USD weak i.e. rising oil price? While RBI makes gold as basis, US can only print as much currency propotionate to its oil reserves.
>>While RBI makes gold as basis, US can only print as much currency propotionate to its oil reserves. <<
Where did u get that nugget of wisdom from? RBI and the fed can print as much money as they can get away with....it's called "inflation expectation" in veiled terms. Fiat currency is pegged to nothing!
Where did u get that nugget of wisdom from? RBI and the fed can print as much money as they can get away with....it's called "inflation expectation" in veiled terms. Fiat currency is pegged to nothing!
Rising oil prices are a big headache for India as well as the US. India imports most of its oil, whereas the US has some local production (in your part of the country.) So as long as oil keeps rising and the food shortages continue (i.e. until late autumn at least), the rupee will continue falling against the dollar. Where it will end up by then is anybody's guess, but I am betting on 45-47.
Rising oil prices is direct reason for rupee decline against dollar.
Indian Oil gaints are selling bonds to cover their losses and guess who buys them RBI is the only buyer at the rates those bonds offer. In other words RBI subsidizes the Oil company for selling Oil inside India at below market price. Last year they sold 35K crores, this year 135K crores. That kind of largesse is causing huge inflationary push on rupee. ( this is from a news item from Rediff)
If Oil continues rise, after indian elections in the next few months, Govt will be forced to increase oil prices by a huge amount. 100/litre. That will drive huge price increase all around.
No body is safe as long as oil is going up.
Indian Oil gaints are selling bonds to cover their losses and guess who buys them RBI is the only buyer at the rates those bonds offer. In other words RBI subsidizes the Oil company for selling Oil inside India at below market price. Last year they sold 35K crores, this year 135K crores. That kind of largesse is causing huge inflationary push on rupee. ( this is from a news item from Rediff)
If Oil continues rise, after indian elections in the next few months, Govt will be forced to increase oil prices by a huge amount. 100/litre. That will drive huge price increase all around.
No body is safe as long as oil is going up.
Hey...you are stealing my argument.. I'm the one who has been harping about oil bonds for years now!!
© 1998-2008 Copyright Sulekha.com Connecting Indians Worldwide, All Rights Reserved.