FCNR ACCOUNTS
Account Currency
Different Foreign Currencies
USD /GBP/EURO/YEN / HKD/AUD/CAD/SGD/CHF
FCNR ACCOUNTS
Who Can Open An Account?
NRI/PIO/OCI
(Some Exceptions Are There)
FCNR ACCOUNTS
Joint Accounts
Jointly With Two Or More NRIs / PIOs / OCIs.
Jointly With A Resident Relative
( Former Or Survivor Basis)
FCNR ACCOUNTS
Type Of Accounts
Term Deposit Only
FCNR ACCOUNTS
Period For Fixed Deposits
Minimum 1 year and not more than 5 years
FCNR ACCOUNTS
Permissible Credits
Remittance From Outside India
Transfer From Other NRE/FCNR Accounts
Maturity Proceeds Of Investments
FCNR ACCOUNTS
Permissible Debits
All Local payments
Transfer To Other NRE/FCNR Accounts
Permissible Investments
Remittance Abroad
FCNR ACCOUNTS
Taxability
Interest Earned 100% Tax Free
No Wealth Tax
FCNR ACCOUNTS
Repatriability
100% Repatriable
FCNR ACCOUNTS
Nomination
Yes, Possible
#NRImoneyclinic #FCNRaccount #personalfinance
Links to my previous videos:till now :
NRI ACCOUNTS – PART 4 RFC ACCOUNTS
https://youtu.be/QuLfwnAfbXk
NRE – NRO – FCNR ACCOUNTS – PART 2 NRO ACCOUNTS All That You Need To Know
https://youtu.be/ujxsZCV5Iks
NRE – NRO – FCNR ACCOUNTS – PART 1 NRE ACCOUNTS All That You Need To Know
https://youtu.be/9Q8yhqGlOh8
WHY ARE THE FIXED DEPOSIT (FD) RATES FALLING ?
https://youtu.be/KXOnCEc-MD0
FINANCIAL PLANNING TIPS FOR BEGINNERS – AGE GROUP 35 TO 45
https://youtu.be/Gz9e8X3HuJs
HOW TO SELECT A RIGHT FINANCIAL ADVISOR / PLANNER? By Dr. Chandrakantha Bhat
https://youtu.be/guwNXbUgCW4
FINANCIAL PLANNING TIPS FOR BEGINNERS – AGE GROUP 25 TO 35
https://youtu.be/G9GVK1gGD6M
HOW TO INVEST IN MUTUAL FUNDS FOR FREE WITHOUT DEMAT ACCOUNT ?
https://youtu.be/kCrIYNUAbZk
WHY SHOULD YOU APPOINT A FINANCIAL PLANNER?
https://youtu.be/SXVtwx5sQXc
Why Should You Buy A Term Insurance Today ? Dr. Chandrakantha Bhat
https://youtu.be/8YGeRV1ksQk
WHAT IS CRITICAL ILLNESS INSURANCE? By Dr. Chandrakantha Bhat
https://youtu.be/YhXGThE8G4M
NRI TAXATION- Finance Act – 2020 – Who will be impacted ?
https://youtu.be/Bo-1LjGDOFo
HOW TO BE SUCCESSFUL IN THE STOCK MARKET
https://youtu.be/0TzRoXkO2g4
As a NRI Should I Keep My Savings As Dollars Or Rupees ?
https://youtu.be/RXjvOvYsDow
6 MISTAKES TO AVOID DURING MARKET CRASH
https://youtu.be/9Y2r08x2sJM
DEPENDING ONLY ON PENSION DURING RETIREMENT CAN BE A TRAP FOR YOU https://youtu.be/qLTkhCDe89g
WHY SHOULD YOU DEAL WITH MORE THAN ONE BANK ? https://youtu.be/GjDsxS2Kxuo
WHAT TO BUY? SHARES OR MUTUAL FUND?https://youtu.be/0nl9sPJBUQs
6 COMMON MISTAKES DURING RETIREMENT https://youtu.be/ivus9eJWKXMWhy Investors Fail ?
https://youtu.be/c8jxppcdXhs
Why You NEED an Emergency Fund! by Dr Chandrakanth Bhat NRI Money Clinic:https://youtu.be/fBm8bokZI0c
#NRImoneyclinic #FCNRaccount #personalfinance
6 steps to generate good returns on your investments – https://youtu.be/AAxQ4ywScos
Don’t Buy a Life Insurance Policy Until You Watch This! https://youtu.be/q0adm_CKvew
NRI Money Clinic is a YouTube channel created by Dr. Chandrakantha Bhat , an investment consultant and financial planner in Dubai . It aims to spread financial literacy and educate on money matters for resident and non resident Indians . The channel discusses subjects like Fixed Deposits , Taxation , Mutual Funds , Insurance , Specific Issues pertaining to NRI community and every other investment opportunity. Dr. Chandrakantha Bhat can be reached on Whatsapp on +971 50 148 4595
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DISCLAIMER : Please consult your professional financial advisors before taking any action based on inputs of this video and other videos of this channel. Dr. Chandrakantha Bhat or NRI Money Clinic you tube channel is not responsible for any losses or undesirable outcome for action taken by you without proper consultation with professional advisors in the field of finance.