Bank Deposits

FCNR

A FCNR deposit, or Foreign Currency Non-Repatriable account deposit, is a type of Fixed Deposit Foreign Currency account strictly for depositing, not for saving. It allows for deposits in major currencies such as US Dollars, UK Pounds, Canadian Dollars, Deutsche Marks, Japanese Yen, and Euros. Unlike a savings account, this type of deposit offers the potential to earn higher interest rates.

Related terms

Demand deposits

Understand the meaning and definition of Demand deposits in the context of stock market, trading, and investments.

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Tax Deducted at Source

Understand the meaning and definition of Tax Deducted at Source in the context of stock market, trading, and investments.

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Know Your Client guidelines

Understand the meaning and definition of Know Your Client guidelines in the context of stock market, trading, and investments.

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Annual Yield

Understand the meaning and definition of Annual Yield in the context of stock market, trading, and investments.

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NRO

Understand the meaning and definition of NRO in the context of stock market, trading, and investments.

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Deposits

Understand the meaning and definition of Deposits in the context of stock market, trading, and investments.

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