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lodging big amounts forigen ?

  • 18-09-2013 10:44pm
    #1
    teddyteddy
    Registered Users, Registered Users 2 Posts: 111 ✭✭


    http://data.worldbank.org/indicator/FR.INR.DPST
    looking at some of the rates here , 12 and 13 percent interests PA.
    is there hidden catches ? ive a friend whos indian, and said bank of india cbi "CENTRAL BANK OF INDIA" paying out 9 % pa.......


Comments

  • #2
    gordongekko
    Registered Users, Registered Users 2 Posts: 5,301 ✭✭✭gordongekko


    teddyteddy wrote: »
    http://data.worldbank.org/indicator/FR.INR.DPST
    looking at some of the rates here , 12 and 13 percent interests PA.
    is there hidden catches ? ive a friend whos indian, and said bank of india cbi "CENTRAL BANK OF INDIA" paying out 9 % pa.......

    currency risk


  • #3
    srsly78
    Registered Users, Registered Users 2 Posts: 7,157 ✭✭✭srsly78


    You can get great interest in Nigeria too.

    Read this about India: http://www.economist.com/blogs/freeexchange/2013/08/capital-controls-india

    You may have trouble when it comes to taking your money out.


  • #4
    mark8511
    Registered Users, Registered Users 2 Posts: 37 ✭mark8511


    Its True

    I had a close Indian Friend and this is true that when you make a Fixed deposit (FD) for 1 yr or more then you will get 9%. this is given by most of Govt banks.

    but you can not withdraw this amount before time, if you do so then you will not get any interest on your amount. You can simply go to bank and take your money like any saving account.

    https://www.sbi.co.in/user.htm?action=viewsection&id=0,16,384,385


  • #5
    teddyteddy
    Registered Users, Registered Users 2 Posts: 111 ✭✭teddyteddy


    do you need to be a house owner in the country like as in turkey where you need a tax card to open a bank account etc?


  • #6
    mark8511
    Registered Users, Registered Users 2 Posts: 37 ✭mark8511


    teddyteddy wrote: »
    do you need to be a house owner in the country like as in turkey where you need a tax card to open a bank account etc?

    Not sure about that, but you can contact any bank there and ask if a foreigner can open an bank account.

    if you want to directly interact with one of my frnd there you can send me Pm and I can provide you his details.


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