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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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Renewal of deposit

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

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Bank

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

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Future Value

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

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Bank fixed deposits

Understand the meaning and definition of Bank fixed deposits 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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