FCNR Forward Contracts
A special deposit that makes your money work smarter and earns you higher returns in rupees / foreign currency.
Forward Contract is a contract entered into for any transaction of a future date wherein the rate is fixed today. In such a scenario the loss arising out of the fluctuation in the market is nullified and you can determine in advance, what is the amount you are going to receive at a future date.
Depending upon the currency market rates, you would earn a premium and thereby an effective yield on your FCNR deposit. The product can be utilized to cover against exchange rate fluctuations for FCNR deposits.
Features and Benefits
- Attractive interest rates combined with advantage of Protection from exchange rate fluctuation.
- Complete capital protection since the money is invested in a fixed deposit.
- Interest earned is tax-free in India.
- Maturity proceeds can be repatriated in your NRE Savings Account.
- Choice of currencies available USD, GBP, EUR, JPY, depending on their yields against INR.
- Tenure options maximum up to 13 months.
- End rupee value of the Deposit is known upfront.
To know more, Please get in touch with RM.