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<b>19x leverage on FCNR(B) deposits and high returns may not work for NRIs based in Singapore in this case</b> - The Economic Times
FCNR (B) FD: For NRIs, the potential gains from FCNR(B) deposits may be undermined by Singapore's tax policies. Interest earnings from Indian banks are recognized as originating from Singapore, triggering local taxes that can diminish effective yields on these deposits. Conversely, payments made to Indian banks' Singapore branches do not incur this tax. It's crucial for investors to assess these tax ramifications before engaging in FCNR(B) investment activities.
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economictimes.indiatimes.com
FCNR (B) FD interest rates up to 6.50%: SBI, HDFC Bank, PNB and others- which bank offers highest rate? - The Economic Times
For non-resident Indians, foreign currency non-resident bank fixed deposits remain a favored investment choice. With an uptick in interest rates for tenures ranging from three to…
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<b>19x leverage on FCNR(B) deposits and high returns may not work for NRIs based in Singapore in this case</b> - The Economic Times
