Do Indians in US save large amount of cash outside US to get a good interest rate? how do you transfer money back to US?

Lyft Gkdsvrja2
Sep 20 16 Comments

Do folks (specially Indians) in the US save large amounts of cash (approx. $200k) in India to get a good interest rate?
If yes, how do they transfer this money back to the US when needed (e.g. to buy real estate)?
What are tax implications?
This question is related to continuos interest rate cuts by US Fed -


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TOP 16 Comments
  • Oath Atinlay2

    OP thinks he found some sort of loophole.
    Sep 20 1
    • Lyft Gkdsvrja2
      Haha we need entertainers on every platform
      Sep 20
  • Cloudera strstream
    Indian Rupee devaluation makes the conversion back to USD not worthwhile and if devaluation is higher than you may end up losing money in USD, so be careful. Hence I’ve never transferred money to India except for small gifts, or money I need when I visit.
    Sep 20 0
  • LinkedIn LIlg41
    There’s no free lunch in interest rate arbitrage between countries:
    Sep 20 1
    • Amazon / Eng millnum
      BTW, this is true for long term and not for short term gains. The reasons why foreign holdings at higher interest rate are not worth for short term are - transaction costs, conversion rate disparity, tax mishaps, and high volume red flag by IRA.
      Sep 20
  • Citrix Systems / Eng ಅವನೌನ ಹಡಾ
    I never transfer back. Always transfer to India !!
    Sep 20 3
    • Walmart QTFP86
      And one day transfer yourselves too 🤣
      Sep 20
    • Citrix Systems / Eng ಅವನೌನ ಹಡಾ
      Ya lol 😂
      Sep 20
    • Walmart QTFP86
      Just make sure then don’t devalue you with their inflation 🙂
      Sep 20
  • Google / Eng

    Google Eng

    14 yoe engineer in tech
    I transferred money to india at usd at 52Rs, thinking i got a great deal, considering it was 40 few yrs ago. Later whn i bought a house in US, I transferred the money to US at usd at 67. Now usd is 71.
    Sep 20 0
  • Cruise Automation prcption
    WiRe transfer
    Sep 20 1
    • Walmart QTFP86
      You mean wire transfer? If you literally means wife transfer, you have an amazing startup idea 💡 👌😎
      Sep 20
  • Chase PartyBoat
    FCNR, money stays in foreign currency
    Sep 20 0
  • Amazon / Product curiousge
    InstaReM they are much better than Remitly or Xoom
    Sep 29 0
  • LinkedIn Wiener
    Just buy gold. Indians love gold anyways.
    Sep 20 0
  • Redfin schoolMe
    Why not just get a cd
    Sep 20 0


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