This opportunity to earn better return may not be available at all times.” “The result of this is that you earn FCNR deposit rate and forward premium which can be better than NRE fixed deposit rate. You can do so by booking a foreign currency non-resident (FCNR) deposit and sell its maturity proceeds through a forward contract. In an email sent to NRI customers, HDFC Bank said: “Depending on the forex market scenario, there could be an opportunity for you to earn better return than NRE fixed deposit rates.
A leading Indian bank is offering non-resident Indians (NRIs) guaranteed returns of 13 to 14 per cent on fixed deposits.
