One of the big news I have heard this week was the changes in H-1B VISA by Trump administration which can affect as many as 500K Indians living in the USA and working in the technology sector. The H-1B VISA is the most popular way for Indian IT professional to travel the USA. In general, it is first issued for 3 years but can be extended for another 3 years. Which means an individual who goes to the USA on H-1B VISA can stay their as long as 6 years. After that, he has to come back India or go outside the USA for another 1 year before he can come back, but there is a twist.
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Recently one of my readers asked me that he wants to invest some money on NRE fixed deposits but confused on whether to go for foreign banks like Citibank, DBS, Standard Chartered, Deutsche Bank or Indian banks like ICICI, Kotak, HDFC, SBI, Axis Bank or Union Bank? I asked him, whether he has any existing NRE saving account , he says he doesn't have any existing NRE saving account? Then I ask him what is more important for you? the interest rate or convenience? and his answer was the interest rate. Read more »
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