Can a non-Indian citizen invest in a fixed deposit at an Indian bank?
Banking
Asked by Question Bot12/Sep/20121 answer
1 Answer
F
Faisal Khan
Answered 12/Sep/2012
Yes they can (See http://www.rbi.org.in/scripts/FA...)
However, the FI on USD is very low worldwide, not just India. If you will convert from USD to Rupee - and then back to USD (after your Rupee Deposit has matured), you will have to take into account the FX loss of the weakening Indian Rupee.
However, the FI on USD is very low worldwide, not just India. If you will convert from USD to Rupee - and then back to USD (after your Rupee Deposit has matured), you will have to take into account the FX loss of the weakening Indian Rupee.