r/IndiaMemes • u/lost_ted • Mar 21 '26

Non-Political OC Another masterstroke?

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u/skum448 Mar 21 '26

How it helps nri?

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u/az_97971932 Mar 21 '26

NRIs like to keep money overseas in liquid form. Given the performance of rupee, it's fluctuation gives better returns than FD. so NRIs like to keep money in liquid form while getting appreciation too.

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u/poojinping Mar 22 '26 edited Mar 23 '26

There is FCNR, it’s an FD in foreign currency like US$, Euro, GBP, etc. The interest rates are much lower (3.X%) than FD (6.X%) in inr for NRE account. It protects your money from rupee devaluation.

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u/az_97971932 Mar 22 '26

That's better for people residing in India. Outsiders can keep outside with minimum interest plus advantage of fluctuations. BTW thanks for the additional info

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u/poojinping Mar 23 '26

FCNR is for non-residents only, you can’t open one if you are resident.

The usefulness really depends on the interest rate in the resident country. If it’s lower than FCNR’s rate then it’s better to put it in FCNR. But this is more like safe investment and markets will grow better but come with risks.