9.25% interest rate on India FD

[Sirus8210]

Today i got to know from my client that bank in India is offering 9.25% interest rate on FD ~!~!~!

i went to the website and found out that its true...

Any one did the same before ?

 

[jgyy1990]

link plz tyvm

 

[stuckintinysg]

You can't open an India bank account without being a resident there.
But yep 9 over % is insane!!

 

[tycosiao]

Inflation is high too?

 

[Sirus8210]

link plz tyvm

I can't attach the link I'm still moderation : ( but anyway u can google search for India bank interest rate and u sure can find it

 

[autumm]

If u haven read the news, the Indian currency has been in a crazy decline. They have been trying to stop the slide without much success

 

[jgyy1990]

anyway sounds unstable, rather not put my money there

 

[Sirus8210]

If u haven read the news, the Indian currency has been in a crazy decline. They have been trying to stop the slide without much success

Thx bro for the info

 

[Some-one]

Don't forget the huge forex risks involved. Forex risks alone can eat away your return and as what one forumer mentioned, IDR is declining.

India does not have huge forex reserves and the government is asking Indian residents to convert their foreign currency to Indian Rupee (IDR) to prop up its own currency within 2 weeks..

 

[audiovideo]

Great!! keep it cuming!!

 

[henrylbh]

You can't open an India bank account without being a resident there.
But yep 9 over % is insane!!

You sure non resident cant. I have seen 9.5% been advertised in HWZ and non-resident also can place deposit with no withholding tax!!!

Bu the currency has declined almost 50% over the years.

 

[stuckintinysg]

If you manage to open, let us know...
though other are right about the risks involved.
I've checked BOI and HSBC, both states on their website, that you need to
be a resident of India, also another expat in India's blog states the procedure of
opening an account in India, and he said the same thing too.

 

[blueboat]

high rate comes with high risk though

 

[wdblazer]

High inflation + high interest rate = depreciation of currency. You wouldn't earn much one, got other better places to park your money in.

 

[nokiatech]

, got other better places to park your money in.

Any Examples ?

Let me offer one , for those who are more risk adverse and worry about forex risks.

Keep a lookout for Brunei banks ; occasionally, they offer higher interest rates on FD .

Many years ago, they had a promo at 2.85% pa.

 

[Bangalaa]

bumpz........