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

Receipt

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

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Deposit insurance

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

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Lender

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

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Demand deposits

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

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Sweep Account

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

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Simple Interest

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

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