| Author | Message | ||
Raman Legend Username: Raman Post Number: 51409 Registered: 01-2009 Posted From: 122.174.96.72 Rating: N/A |
indialo rates up 8% kani dol/inr conversion rate isues vastayi .. NRE account open chesi vadu iche 4-6% teeskondi in $ | ||
Sankara Junior Artist Username: Sankara Post Number: 9 Registered: 05-2017 Posted From: 124.197.119.88 Rating: N/A |
You can open NRO and NRE accounts both. Minimum balance will be usually like 10,000 INR, so it might be of much concern for most. If you have any source of income that originates in India (such as somebody paying you off loans, selling some property or rental income etc.,), use NRO to deposit such money. If you send money from overseas, you can use your NRE account for such purpose. After you have money in either NRO or NRE account, depending on how and when you use it either for investments or clearing off loans or any other purpose, you can use whichever optimizes and makes you less taxable. NRO account although taxable might not require you to be liable for taxes as long as your total interest and any other income does not exceed 2.5 lakhs per annum (same as resident Indians). The only headache is that you have to file income tax returns in India (online using e-file portal) and claim the TDS money. If you don't have any other source of income or do not have any savings in India, you can directly go with NRE account. Indian policy makers are unpredictable, and might change rules next budget. So, there is no long term and one for all account for your purpose. Just go with both and use whichever optimizes your tax outlay. | ||
Uno Comedian Username: Uno Post Number: 1569 Registered: 03-2016 Posted From: 174.115.80.19 Rating: N/A |
I meant for a saving account where you don't carry large balances and just for loan repayments (and don't intend leave large balances to earn interest) | ||
Hadoop Side Hero Username: Hadoop Post Number: 7627 Registered: 12-2014 Posted From: 99.104.124.142 Rating: N/A |
ok..but NRO taxble and nre non-taxble ani kinda post chesaru gaa... | ||
Uno Comedian Username: Uno Post Number: 1568 Registered: 03-2016 Posted From: 174.115.80.19 Rating: N/A |
any account,you like NRO is best..cos you can deposit money into this account from India too (Like rental income etc)..unlike NRE account ,which can be deposited only by transfers from abroad | ||
Hadoop Side Hero Username: Hadoop Post Number: 7626 Registered: 12-2014 Posted From: 99.104.124.142 Rating: N/A |
ohh ok. thanks bro.... | ||
Hadoop Side Hero Username: Hadoop Post Number: 7625 Registered: 12-2014 Posted From: 99.104.124.142 Rating: N/A |
bro ..inko question non related to fd's....india lo home loan tesukonte ...loan repayment like monthly loan repayments...etc ki ee account nre or nro which one generally used? | ||
Thikka_sankara Legend Username: Thikka_sankara Post Number: 33114 Registered: 02-2012 Posted From: 68.55.98.113 Rating: N/A |
rd s lo end of term... Fds lo you'll have option of quarterly and yearly and end of term payouts.... methavulaki venkayya jawaabu.... https://youtu.be/fUafzTD37sY | ||
Sankara Junior Artist Username: Sankara Post Number: 8 Registered: 05-2017 Posted From: 124.197.119.88 Rating: N/A |
India post monthly income scheme: (Actually better than most FDs). There is lock-in period of 5 years. https://www.indiapost.gov.in/Financial/Pages/Content/MIS-Acc ount.aspx | ||
Sankara Junior Artist Username: Sankara Post Number: 7 Registered: 05-2017 Posted From: 124.197.119.88 Rating: N/A |
Always at the end. If you want monthly interest income, there is something called MIP (monthly income plan) in Post Offices which pays 8% (might have been changed in recent budget). There is however an upper limit on the money (9 or 16 lakhs) per person that can be parked in MIP offered in Indian post office branches. | ||
Sankara Junior Artist Username: Sankara Post Number: 6 Registered: 05-2017 Posted From: 124.197.119.88 Rating: N/A |
NRI accounts are two types. NRE: Also known as repatriate accounts, in which interest earned (savings account or FD or any other form) is not taxed. NRO: Also known as resident accounts, in which interest earned (saving account or FD or any other form) is treated as income and taxed at the applicable rates. The worst thing is Banks deduct TDS (tax deducted at source) on all interest amount on this account. If there is no other source of income in India except interest earned on these type of accounts, and if such amount is less than 2.5 lakhs (not sure the current tax free amount in India), then you can file returns (e-file) and get the refund of TDS amount. | ||
Hadoop Side Hero Username: Hadoop Post Number: 7624 Registered: 12-2014 Posted From: 99.104.124.142 Rating: N/A |
also one more questions, in fixed fd's or recurring fd's....interest at the end of duration istada or every month deposit chesada account lo? any ideas? | ||
Hadoop Side Hero Username: Hadoop Post Number: 7623 Registered: 12-2014 Posted From: 99.104.124.142 Rating: N/A |
i got confused here...i used below link for example 30k us $ that is around 20 lak.....so i calculated 20lak rupee vs 30k usd for 2 years....i see indian rupee fd's getting more returns... http://www.nribanks.com/calculate_interest.php#NRO interest i used 7% for rupee and 3% for usd....emanna daal lo kalesanu antava | ||
Uno Comedian Username: Uno Post Number: 1567 Registered: 03-2016 Posted From: 174.115.80.19 Rating: N/A |
NO.. you are getting interest rate for USD deposits,more than any US bank can offer No US bank will offer is 4% APY on CDs | ||
Uno Comedian Username: Uno Post Number: 1566 Registered: 03-2016 Posted From: 174.115.80.19 Rating: N/A |
FCNR=deposit in foreign currency (ex;USD or GBP) After maturity you will be paid in foreign currency (USD or GBP) (Less interest rate) Regular deposits will be in INR (which have more interest rate) | ||
Hadoop Side Hero Username: Hadoop Post Number: 7622 Registered: 12-2014 Posted From: 99.104.124.142 Rating: N/A |
uncles http://www.nribanks.com/calculate_interest.php#NRO ee link prakaram calc chesa....foreign currentcy lo fd's are big joke laa unnayi...i think rs fd is better. | ||
Hadoop Side Hero Username: Hadoop Post Number: 7621 Registered: 12-2014 Posted From: 99.104.124.142 Rating: N/A |
manam denike kada applicable ? fd in foreign currency better aa or fd in indian currency better aa? | ||
Thikka_sankara Legend Username: Thikka_sankara Post Number: 33113 Registered: 02-2012 Posted From: 69.136.133.117 Rating: N/A |
nuvvu kattakkarled vaalle deduct chesestaru... If you provide form 15, they will deduct 10% slab... Else 20% slab... While filing returns , you have to take care by paying remaining or by claiming refund as applicable to ur case methavulaki venkayya jawaabu.... https://youtu.be/fUafzTD37sY | ||
Uno Comedian Username: Uno Post Number: 1565 Registered: 03-2016 Posted From: 174.115.80.19 Rating: N/A |
Interests are taxable.The banks will deduct the tax portion and send you TDS form.You can claim refund by filing IT returns I think NRI deposits are tax exempt.But not sure.Contact the bank or professional tax consultant in India for more info BTW,you can also open US$ Fixed deposit in Indian banks too.The interest rate is around 3% check this link for ICICI NRI acc FE/Recurring interest rates (for INR and USD and other foreign Currencies) https://www.icicibank.com/nri-banking/RHStemp/rates.page FCNR=Foreign Currency-Non Resident RFC=Resident Foreign Currency | ||
Hadoop Side Hero Username: Hadoop Post Number: 7620 Registered: 12-2014 Posted From: 99.104.124.142 Rating: N/A |
india lo fd meeda tax kattala? | ||
Uno Comedian Username: Uno Post Number: 1563 Registered: 03-2016 Posted From: 174.115.80.19 Rating: N/A |
fixed deposit/CD in a USA is a joke (~2% APY) Adv: USD/INR Appreciation Dis Adv: Low Interest rates In India you will get a min of 7% to 9% Adv:High Interest rates Dis:INR depreciation Also compare taxes (if applicable) | ||
Wellsfargo Side Hero Username: Wellsfargo Post Number: 8048 Registered: 06-2012 Posted From: 124.123.173.0 Rating: N/A |
India any day better for FD | ||
Hadoop Side Hero Username: Hadoop Post Number: 7616 Registered: 12-2014 Posted From: 99.104.124.142 Rating: N/A |
experts.....oka fixed deposit open chesyalante indian vs us banks lo edi best interms of returns ? |