Earn More on Deposits, Indian Rupees, Foreign Currencies , Deposits

The core team of nribanks.com comprises of practicing Chartered Accountants having many years of experience of advising Indians abroad in matters pertaining to Foreign Exchange Laws, Tax Laws, Banking Regulations & Opportunities.
The BANK BUREAU at nribanks.com brings you TAX-FREE options of best interest rate package from amongst various banks and leading Mutual Funds (MFs) in India to enhance your earnings on your RUPEE and FOREIGN CURRENCY Deposits.
Said deposits/bonds earn Interest/dividend exempt for Income Tax and of course with all deposits/bonds ; interest & principal, both are fully repatriable.

I. High yield US$, GBP & Euro deposits.

II. NRE & NRO Savings to Floating Rate Funds.

III. MFs - Arbitrage Funds - an excellent alternative beating NRE / NRO interest rates

IV. MF Equity Schemes & BSE, NSE, FTSE , Dow Jones - 1 / 2 / 3 Years Rolling Performance as on 30.06.2008.

I. High yield US$, GBP & Euro deposits :

(< USD 100000) - Interest rates w.e.f. July 21st, 2008 to July 25th, 2008

interest rates for US$ deposits
Term	Interest rates (%) p.a.	Annualized Yields (%)
6 Months	3.73%	3.73%
12 Months	4.06%	4.06%
24 Months	4.79%	4.90%
36 Months	5.66%	5.99%

(< GBP 70,000) - Interest rates w.e.f. July 21st, 2008 to July 25th, 2008

interest rates for GBP deposits
Term	Interest rates (%) p.a.	Annualized Yields (%)
6 Months	6.61%	6.61%
12 Months	7.04%	7.04%
24 Months	7.14%	7.39%
36 Months	7.61%	8.20%

(< EURO 100,000) - Interest rates w.e.f. July 21st, 2008 to July 25th, 2008

interest rates for EURO deposits
Term	Interest rates (%) p.a.	Annualized Yields (%)
6 Months	5.74%	5.74%
12 Months	6.18%	6.18%
24 Months	6.36%	6.57%
36 Months	6.83%	7.30%

The BUREAU negotiates with various banks for additional interest offered for deposits in various currencies & brings you the best offer from amongst various banks in India.

II. NRE & NRO Savings to Floating Rate Funds :
We suggest investment of NRE & NRO Savings balances to Floating Rate / Liquid Funds for incremental tax - free income & Liquidity.

1. Mutual Funds' Floating rate / liquid fund schemes with ans ' objective is to generate regular income through investment in Money market and Debt Instruments are better alternative for balances held in NRE and / or NRO Savings Accounts.

2. The investment port-folio consists of Government Securities , Bank deposits, deposits with Public Sector and Private Sector companies, which provides regular income and high security.

3. Under the dividend option, the investors' income by way of dividend remains tax free as the Mutual Fund is required to pay dividend distribution tax - presently, at app. 13%. The floating rate fund also offer unique option of daily dividend reinvestment plan.

OPTION / PARTICULARS	MF FLOATING RATE	NRO Savings A/c.	NRE Savings A/c.
Security	Secured. Investment in Govt. securities, Bank & Corpo. Deposits	Also secured.	Also secured.
Security Insurance	Nil	Rs.1 lakh per person	Rs.1 lakh per person
Yield/Return	App. 5.50% to 6 %	3.50%	3.50%
Tax	Dividend tax-free	Interest taxable	Interest tax free
TDS	Nil	30.60%	Nil
Premature Withdrawal for Penalty / Liquidity	Daily Dividend & Total liquidity	Interest paid only on Balance held bet. 10th and end of month	Interest paid only on Balance held bet. 10th and end of month
Investment Objective	Stable income with low risk	Profit-making with medium risk	Profit-making with medium risk
Incremental Return	Possible - rising Interest conditions.	Not Possible- Fixed return	Not Possible- Fixed return

III. MFs - Arbitrage Funds - an excellent alternative beating NRE / NRO interest rates.

Arbitrage Fund makes the most of the difference across markets by investing in cash and futures market in a diversified basket of equity & equity related instruments, derivative and debt and money market instruments in accordance with asset allocation pattern. Unlike NRE/NRO Fixed deposits Arbitrage funds can be liquidated any time or once a month in some cases. And moreover the dividends are totally TAX FREE and both the principal and dividend are fully & freely repatriable too.

Returns of Arbitrage Funds [ Gr. ] upto 1 yr. absolute & over 1 yr. annualized as on 27.6.2008
Arbitrage	NAV	1 month	3 month	6 month	1 year
IDFC Arbitrage Fund - Plan A (Regular) - Growth	11.31	4.86	5.61	7.40	7.37
IDFC Arbitrage Fund - Plan B (I P) - Growth	11.39	5.36	6.12	7.92	7.91
IDFC Fixed Maturity Arbitrage Fund - S1 - Plan A - Growth	10.37	8.06	7.35	6.68	N.A
JM Arbitrage Advantage Fund - Growth	11.75	8.03	7.18	8.68	8.66
Kotak Equity Arbitrage Fund - Growth	12.35	6.24	5.73	7.93	8.29
Lotus India Arbitrage Fund - Growth	11.03	6.38	6.43	8.89	8.57
SBI Arbitrage Opportunities Fund - Growth	11.55	7.33	6.32	7.94	8.19

IV. MF Equity Schemes & BSE, NSE, FTSE, Dow Jones - 1 / 2 / 3 Years Rolling Performance as on 30.06.2008:

Rank	1 year - Gain		2 years - Gain		3 years - Gain
Rank	Fund Name	Gain %	Fund Name	Gain %	Fund Name	Gain %
1	Principal Focussed Advantage	21.63%	Reliance Diversified Power	109.47%	Reliance Diversified Power	220.73%
2	Reliance Index Fund - Nifty	15.55%	IDFC Premier Equity Fund	85.98%	Franklin India Growth Fund	131.66%
3	Reliance Diversified Power	14.30%	ICICI Prudential Infra.	66.07%	Sundaram BNP Paribas Select Focus	130.97%
4	Uti Wealth Builder Fund	13.78%	Uti Leadership Equity Fund	63.85%	Tata Infrastructure Fund	129.58%
5	Uti Long Term Advantage	11.68%	Franklin India Growth Fund	60.82%	DWS Investment Opportunity Fund	121.18%
6	Uti Leadership Equity Fund	11.35%	Reliance Regular Savings	60.06%	DSP Merrill Lynch India T.I.G.E.R. Fund	116.62%
7	Uti - Spread Fund	9.00%	Reliance Banking Fund	59.11%	Magnum Sector Funds Umbrella Contra	115.86%
8	Lotus India Arbitrage Fund	8.94%	DWS Investment Opportunity	58.79%	Reliance Growth Fund Growth Plan	114.20%
9	Jm - Arbitrage Advantage Fund	8.88%	Principal Focussed Adv.	58.12%	DSP Merrill Lynch Top 100 Equity Fund	114.08%
10	Reliance Index Fund - Sensex Plan	8.67%	DSP Merrill Lynch Technology	56.28%	Principal Focussed Advantage Fund	113.10%
11	Kotak Equity Arbitrage Fund	8.46%	Reliance Index Fund - Sensex	47.13%	Reliance Index Fund - Sensex Plan	112.94%
12	Principal Global Opportunities Fund	8.36%	Tata Infrastructure Fund	46.63%	Kotak 30 Equity Scheme	111.38%
13	IDFC Arbitrage Fund - Plan B	8.23%	Reliance Growth Fund	46.08%	Kotak Opportunities	109.54%
14	Sbi Arbitrage Opportunities Fund	8.19%	TATA Equity PE Fund	45.71%	ICICI Prudential Dynamic Plan	109.47%
15	IDFC Arbitrage Fund - Plan A	7.69%	Templeton India Eq. Income	44.03%	Uti Thematic Infrastructure Fund	109.43%
16	DWS Investment Opportunity Fund	6.16%	Sundaram BNP Select Focus	43.66%	HSBC Equity Fund	108.66%
17	Sundaram BNP Select Focus	4.54%	HDFC Growth Fund	43.23%	DWS Alpha Equity Fund	108.35%
18	Uti Equity Fund	3.80%	Reliance Index Fund - Nifty	43.22%	Magnum Multiplier Plus Scheme 93	107.81%
19	Franklin India Growth Fund	3.55%	Templeton India GROWTH	42.99%	DSP Merrill Lynch Technology.com Fund	104.97%
20	IDFC Premier Equity Fund	2.52%	Magnum Comma Fund	42.80%	Sundaram BNP Paribas Select Midcap	102.91%
21	Reliance Regular Savings Fund	1.95%	DSP Merrill L. Top 100 Equity	42.18%	Sundaram BNP Paribas Tax Saver	102.86%
22	Templeton India Equity Income	1.68%	HSBC Equity Fund	41.98%	HDFC Growth Fund	100.87%
23	ICICI Prudential Infrastructure Fund	1.13%	Sundaram BNP Tax Saver	39.25%	Birla Sun Life Frontline Equity Fund	98.79%
24	HSBC Equity Fund	0.86%	Sundaram BNP CAPEX Opp.	38.75%	HSBC India Opportunities Fund	97.07%
25	IDFC Imperial Equity Fund	0.51%	Uti - Dividend Yield Fund	37.92%	Sundaram BNP Paribas India Leadership	96.92%
26	Templeton India GROWTH FUND	0.22%	Uti Thematic Infrastructure	37.27%	HDFC Top 200 Fund	94.51%
27	Aig Infra. & Economic Reform	0.00%	Jm Basic Fund	37.15%	Templeton India GROWTH FUND	93.07%
28	Bsl International Equity	0.00%	Uti Equity Fund	36.92%	Sundaram BNP Paribas Growth Fund	92.11%
29	Bsl Pure Value Fund	0.00%	Kotak Opportunities	36.60%	TATA Equity Opportunities Fund	91.63%
30	Bsl Special Situations Fund	0.00%	Reliance Media & Enter.	36.30%	TATA Equity PE Fund	91.36%
31	Bsl Tax Relief'96 Fund-elss	0.00%	Reliance Pharma Fund - Growth	36.19%	Franklin India PRIMA PLUS	90.87%
32	DWS Alpha Equity Fund	0.00%	Birla Sun Life Frontline Equity F	35.97%	TATA Pure Equity Fund	88.36%
33	Dws Global Thematic Offshore	0.00%	Principal Global Opportunities	35.78%	HDFC Equity Fund	86.20%
34	Fidelity India Growth Fund	0.00%	DWS Alpha Equity Fund	35.66%	Birla Tax Plan '98	85.22%
35	Franklin Asian Equity Fund	0.00%	Uti Thematic Banking Sector	35.44%	Birla Sun Life Equity Fund	84.59%
36	Franklin India High Growth Co.	0.00%	DSP Merrill L. India T.I.G.E.R.	35.15%	Magnum Global Fund	84.38%
37	Franklin India TAXSHIELD'95	0.00%	IDFC Imperial Equity Fund	34.33%	Birla Sun Life Midcap Fund	84.14%
38	FT India PE Ratio Fund	0.00%	Kotak 30 Equity Scheme	33.74%	Reliance Index Fund - Nifty Plan	83.89%
39	Hdfc Arbitrage Fund	0.00%	Fidelity Equity Fund	33.65%	Fidelity Equity Fund	83.24%
40	Hdfc Infrastructure Fund	0.00%	Magnum Sec. Umbrella Contra	33.36%	DSP Merrill Lynch Opportunities Fund	83.13%
41	Hsbc - Emerging Market Fund	0.00%	Franklin India PRIMA PLUS	32.54%	ICICI Prudential FMCG Fund	82.95%
42	Hsbc - Small Cap Fund	0.00%	Birla Sun Life Midcap Fund	32.42%	Jm Basic Fund	82.47%
43	Hsbc Dynamic Fund	0.00%	Birla Tax Plan '98	31.93%	ICICI Prudential Growth Plan	82.38%
44	Icici Prudential Fusion Fund	0.00%	IDFC Classic Equity Fund	31.91%	Franklin India Opportunities Fund	81.52%
45	Icici Prudential Indo Asia Equity	0.00%	ICICI Prudential Dynamic Plan	31.90%	Reliance Vision Fund	79.97%
46	IDFC Small & Midcap Equity (SME)	0.00%	Birla Sun Life Equity Fund	31.84%	Uti Equity Fund	79.31%
47	Jm Agri & Infra Fund	0.00%	ICICI Prudential Services Ind.	31.09%	TATA Select Equity Fund	79.21%
48	Jm Contra Fund	0.00%	TATA Equity Opportunities	31.04%	Franklin India BLUECHIP FUND	78.71%
49	Jm Core 11 Fund	0.00%	Fidelity Tax Advantage Fund	30.62%	ICICI Prudential Emerging STAR	77.55%
50	Jpmorgan India Equity Fund	0.00%	HDFC Top 200 Fund	30.28%	Birla Sun Life Basic Industries Fund	77.08%
51	NSE	-6.43%	NSE	14.58%	BSE Sensex	29.04%
52	BSE Sensex	-8.12%	BSE Sensex	13.44%	NSE	27.32%
53	FTSE 100 - £	-14.86%	DOW JONES - $	0.90%	DOW JONES - $	3.49%
54	DOW JONES - $	-15.35%	FTSE 100 - £	-7.43%	FTSE 100 - £	3.34%

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