Wednesday, October 25, 2017

FCNR Deposit Interest Rates USD - ICICI vs SBI vs HDFC vs Kotak vs Axis Bank

FCNR term deposit is very hot at the moment. As I said in my last post it Right time to invest in FCNR deposit, it's the perfect time to get much better interest rates on foreign currency in India than abroad. If you consider USD interest rates, then Indian banks are offering up to 5.53% interest rates for five years deposit, this looks awesome.

Saturday, October 14, 2017

How much Indian Currency/Cash NRIs can carry to Overseas/India?

In the wake of India's great demonetization drive, NRIs had asked a lot of question to safeguard their Indian currency and one of them was, how much Indian currency an NRI can take to India from Overseas? The main reason for asking this question now is to make use of old Rs 500 and Rs 1000 notes before they became worthless after December 30th, 2016, because the only way to deposit old Indian currency was to deposit them into NRI Account in India.

Monday, October 9, 2017

How much TDS is deducted on Bank, Company and NRO Fixed Deposits?

TDS stands for Tax deducted at source, is income tax levied on interest earned by Fixed deposits. The rate on which TDS is applied varies, depending upon, whether the Fixed deposit is with a bank, a company or the post office. TDS also depends upon total interest earned on a financial year. For bank Fixed deposits, TDS is triggered when interest earned in a financial year (1 April to 31st March) is higher than 10K and for company fixed deposit or post office deposit, TDS triggered when interest earned on a financial year is more than Rs 5000.

Saturday, October 7, 2017

5 ways to remit large amount of Money to India from Overseas

There are several ways to send money to India from Overseas, both online and offline. Some of the popular channel for remitting money includes the Western Union for the small amount of cash to online services like ICICI Money2India, Xoom, HDFC QuickRemit, Remit2India and Axis bank Remittance allows you instantly transfer small to medium amount of money to India e.g. from 500 USD to 20,000 USD.

Monday, October 2, 2017

List of documents required for opening Sukanya Samriddhi Yojna Account

If you are eligible to open Sukanya Samriddhi Yojna account, as per eligibility criterion showed here and decided to open a sukanya samriddhi account then, accept my congratulations. It's a great decision to secure future of your daughter. Now, coming back to formalities, in general, you will need following documents to open an SSY account: