FCNR accounts

Gigamon / Eng
changemeno

Gigamon Eng

BIO
what's th is
changemenomore
Jan 10 9 Comments

For Indians in USA: Do you use FCNR accounts for your savings? Any drawbacks? What do you do with your $$$ savings?

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TOP 9 Comments
  • Groupon McPoop
    Not sure what Indians do but, I personally deposit my savings in Las Vegas.
    Jan 10 1
    • Google / Eng catburglar
      I've heard they give you free shots when you do this
      Jan 10
  • Gigamon / Eng
    oh!boy

    Gigamon Eng

    BIO
    what's th is
    oh!boymore
    Yes..when you keep them in psu or nationalozed banks
    Jan 28 3
    • eBay / IT
      manorama

      eBay IT

      BIO
      Coder
      manoramamore
      Wondering why people put money in bonds or other safe investments , when you can get better return here ? Any catch?
      Jan 28
    • Gigamon / Eng
      oh!boy

      Gigamon Eng

      BIO
      what's th is
      oh!boymore
      Fcnr gives 4% returns. I am not sure if there is any catch. AFAIK, there is none. Just that if u withdraw before maturity period you wont get any interest.
      Jan 28
    • Gigamon / Eng
      oh!boy

      Gigamon Eng

      BIO
      what's th is
      oh!boymore
      Also this FCNR is new. Many ppl dont know about it.
      Jan 28
  • Gigamon / Eng
    oh!boy

    Gigamon Eng

    BIO
    what's th is
    oh!boymore
    Google pros and cons of FCNR accountd
    Jan 28 0
  • eBay / IT
    manorama

    eBay IT

    BIO
    Coder
    manoramamore
    Are FCNR accounts risk free and generate 4% fixed return ?
    Jan 27 0
  • Uber movingfw
    I was thinking the same. Doesn't seem to have any disadvantages compared to CD
    Jan 10 0