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Recurring deposit for NRI – latest offering from Indian banks

Recurring deposit for NRI customers
NRI recurring deposit is a new investment option offered by many Indian banks like HDFC Bank, SBI, ICICI and Kotak Mahindra, after their successful run with NRI fixed deposit. With almost 25-30% rise in exchange rates of USD to INR during the span of one year has made remitting money to India and investing in recurring and fixed deposit a lucrative option. Recurring deposit for NRI is available on HDFC bank and it may also available through other banks like Kotak Mahindra which I yet to check. I liked recurring deposit for NRI because it doesn't require you to invest wholesome amount and you can still take advantage of high-interest rate combine with super exchange rate before it’s too late. As it's quite clear that interest rates in India will only go down in near term, they are already fallen from their peak and exchange rate is also fluctuating I think locking money in recurring deposit is the best one can do if he wants to keep money in Indian rupees or want to pay EMI though that money or buy a house.
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