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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

Deposits

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

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Co-operative banks

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Fixed deposit

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

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Non-Resident Accounts

Understand the meaning and definition of Non-Resident Accounts in the context of stock market, trading, and investments.

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Savings bank account

Understand the meaning and definition of Savings bank account in the context of stock market, trading, and investments.

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Taxable interest

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

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