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EARN MORE INTEREST ON RUPEE/ FOREX DEPOSITS WITH LEADING BANKS / MFs IN INDIA

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 31.12.2008.

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

(< USD 100000) - Interest rates w.e.f. February 02, 2009 to February 06, 2009

interest rates for US$ deposits
Term	Interest rates (%) p.a.	Annualized Yields (%)
6 Months	4.00%	4.00%
12 Months	5.00%	5.00%
24 Months	5.00%	5.12%
36 Months	5.00%	5.25%

(< GBP 70,000) - Interest rates w.e.f. February 02, 2009 to February 06, 2009

interest rates for GBP deposits
Term	Interest rates (%) p.a.	Annualized Yields (%)
6 Months	3.15%	3.15%
12 Months	4.50%	4.50%
24 Months	4.50%	4.60%
36 Months	4.50%	4.70%

(< EURO 100,000) - Interest rates w.e.f. February 02, 2009 to February 06, 2009

interest rates for EURO deposits
Term	Interest rates (%) p.a.	Annualized Yields (%)
6 Months	3.00%	3.00%
12 Months	3.60%	3.60%
24 Months	3.79%	3.86%
36 Months	4.39%	4.58%

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. ] annualized as on 31.05.2009
Arbitrage Funds	NAV	3 Months	6 Months	1 Year	2 Years	3 Years	Redemption
IDFC Arbitrage Fund	11.89	1.20	3.76	5.30	6.73	N.A	Anytime after 1 mnth
IDFC Arbitrage Plus Fund	10.74	1.48	5.30	N.A	N.A	N.A	Anytime after 1 mnth
JM Arbitrage Advantage Fund	12.51	3.48	5.02	6.97	8.12	N.A	After 1 mnth But last thurs of the month - submission before a week
Kotak Equity Arbitrage Fund	13.19	4.04	6.42	7.20	8.13	8.41	Anytime after 6 mnths
Religare Arbitrage Fund	11.73	3.96	5.30	6.52	8.01	N.A	After 6 mnths But last thurs of the month - submission before a week
SBI Arbitrage Opportunities Fund	12.25	2.84	5.166	6.61	7.73	N.A	After 6 mnths But last Fri of the month - submission before a week
UTI Spread Fund	12.92	8.72	9.50	9.84	9.91	N.A	After 6 mnths But last thurs of the month - submission 23^rd of each month

IV. MF Equity Schemes & BSE, NSE, FTSE, Dow Jones - 1 / 2 / 3 Years Rolling Performance as on 31.05.2009:

Rank	1 year - Gain		2 years - Gain		3 years - Gain
Rank	Fund Name	Gain %	Fund Name	Gain %	Fund Name	Gain %
1	Reliance Banking Fund	18.91%	Reliance Diversified Power Sector Fund	50.44%	Reliance Diversified Power Sector Fund	145.80%
2	IDFC Small & Midcap Equity (Sme) Fund	14.20%	Reliance Banking Fund	41.68%	Reliance Banking Fund	113.31%
3	Uti Thematic Banking Sector Fund	11.38%	Reliance Regular Savings Fund	25.89%	Uti Thematic Banking Sector Fund	85.43%
4	Uti-banking Sector Fund	11.38%	Uti Opportunities Fund	24.39%	Reliance Regular Savings Fund	85.26%
5	Bsl Pure Value Fund	11.28%	Principal Focussed Advantage Fund	22.06%	ICICI Prudential Infrastructure Fund	81.46%
6	Uti - Spread Fund	9.84%	SBNPP Tax Saver - (Open Ended) -Growth	21.48%	Birla Sun Life Frontline Equity Fund	72.87%
7	Birla Sun Life Dividend Yield Plus	7.95%	IDFC Imperial Equity Fund	19.89%	IDFC Premier Equity Fund	70.67%
8	Kotak Equity Arbitrage Fund	7.20%	Uti - Spread Fund	19.82%	DSP BlackRock Top 100 Equity Fund	69.46%
9	Hdfc Arbitrage Fund	7.01%	Uti Wealth Builder Fund	19.47%	HDFC Top 200 Fund	64.11%
10	Jm - Arbitrage Advantage Fund	6.97%	ICICI Prudential Infrastructure Fund	18.75%	Franklin India Growth Fund	62.78%
11	Sbi Arbitrage Opportunities Fund	6.61%	IDFC Premier Equity Fund	18.06%	Uti Leadership Equity Fund	62.42%
12	IDFC Arbitrage Fund	5.83%	Uti Thematic Banking Sector Fund	17.19%	Reliance Nri Equity Fund	61.83%
13	Reliance Pharma Fund	5.83%	HDFC Top 200 Fund	16.58%	Uti - Dividend Yield Fund	61.55%
14	IDFC Arbitrage Fund	5.30%	Kotak Equity Arbitrage Fund	16.25%	Franklin India Prima Plus	61.40%
15	Uti Opportunities Fund - Growth	4.72%	Jm - Arbitrage Advantage Fund	16.24%	IDFC Imperial Equity Fund	58.91%
16	Uti Opportunities Fund - Growth Plan	4.72%	Reliance Index Fund - Nifty Plan	15.88%	Dws Investment Opportunity Fund	58.45%
17	JM Mid Cap Fund	4.44%	Uti - Dividend Yield Fund	15.83%	SBNPP Tax Saver - (Open Ended) -Growth	56.44%
18	Uti Thematic Auto Sector Fund	3.88%	Sbi Arbitrage Opportunities Fund	15.46%	DSP BlackRock India T.I.G.E.R. Fund	56.17%
19	Uti-auto Sector Fund	3.88%	SBNPP SMILE - Growth	15.37%	TATA Equity Pe Fund	55.98%
20	HDFC Top 200 Fund	1.21%	IDFC Arbitrage Fund - Plan B	14.60%	HDFC Growth Fund	55.91%
21	SBNPP Tax Saver - (Open Ended) -Growth	0.84%	Uti Leadership Equity Fund	13.73%	SBNPP Select Focus	55.51%
22	HDFC Equity Fund	0.17%	SBNPP Select Focus	13.65%	Templeton India Growth Fund	53.91%
23	IDFC Imperial Equity Fund	0.00%	IDFC Arbitrage Fund - Plan A	13.46%	Principal Focussed Advantage Fund	53.08%
24	Birla Tax Plan '98	0.00%	Birla Sun Life Dividend Yield Plus	12.65%	Reliance Index Fund - Sensex Plan	52.40%
25	Franklin India Growth Fund	0.00%	DSP BlackRock Top 100 Equity Fund	12.38%	SBI - Magnum Sector Funds	52.18%
26	Franklin India Taxshield'95	0.00%	Birla Sun Life Frontline Equity Fund	12.20%	Reliance Growth Fund	51.26%
27	FT India PE RATIO FUND	0.00%	Dws Investment Opportunity Fund	11.86%	HDFC Equity Fund	51.25%
28	Jpmorgan India Equity Fund	0.00%	Reliance Growth Fund	9.56%	Principal Large Cap Fund	50.70%
29	Principal Equity Fund	0.00%	Reliance Index Fund - Sensex Plan	9.50%	Franklin India Bluechip Fund	50.55%
30	Principal Focussed Advantage Fund	0.00%	Templeton India Growth Fund	9.35%	TATA Infrastructure Fund	50.53%
31	Reliance Index Fund - Nifty Plan	0.00%	Dws Alpha Equity Fund - Growth Option	8.11%	HSBC Equity Fund	50.03%
32	Reliance Index Fund - Sensex Plan	0.00%	Uti Contra Fund	8.06%	Reliance Index Fund - Nifty Plan	49.32%
33	Religare AGILE Fund	0.00%	SBI - Magnum Sector Funds	7.99%	Reliance Pharma Fund	47.78%
34	Religare AGILE Tax Fund	0.00%	Kotak Opportunities	7.95%	Uti Opportunities Fund	47.19%
35	Religare Arbitrage Fund	0.00%	Sbi - Magnum Comma Fund	7.94%	Fidelity Tax Advantage Fund	46.99%
36	Religare Contra Fund	0.00%	Tata Infrastructure Fund	7.94%	Fidelity Equity Fund	46.59%
37	Religare Equity Fund	0.00%	HSBC Equity Fund	7.18%	Kotak Opportunities	46.31%
38	Religare Growth Fund	0.00%	HDFC Growth Fund	6.90%	Birla Sun Life Index Fund	46.19%
39	Religare Infrastructure Fund	0.00%	Franklin India Growth Fund	6.50%	TATA Pure Equity Fund	46.11%
40	Religare Mid Cap Fund	0.00%	Reliance Nri Equity Fund	6.00%	Birla Sun Life Equity Fund	46.05%
41	Religare Mid N Small Cap Fund	0.00%	TATA Pure Equity Fund	5.75%	Reliance Vision Fund	45.78%
42	Religare Tax Plan	0.00%	TATA Tax Advantage Fund	5.73%	DWS Alpha Equity Fund	45.71%
43	Sun F&c Emerging Technologies Fund	0.00%	Franklin India Bluechip Fund	5.60%	Templeton India Equity Income Fund	45.31%
44	Sun F&c Value Fund	0.00%	TATA Equity Pe Fund	5.60%	Birla Sun Life Infrastructure Fund	44.96%
45	Tata Service Industries Fund	0.00%	SBI - Magnum Equity Fund	5.55%	NSE	44.87%
46	Uti Equity Fund	0.00%	Reliance Pharma Fund	5.23%	Uti Thematic Infrastructure Fund	44.35%
47	Uti Equity Opportunity Fund	0.00%	Sundaram Bnp Paribas Equity Multiplier Fund	5.14%	Birla Sun Life Dividend Yield Plus	43.34%
48	Uti Growth Sector Fund	0.00%	Franklin India Prima Plus	5.12%	Birla Sun Life Midcap Fund	42.64%
49	Uti India Lifestyle Fund	0.00%	Reliance Equity Fund	4.98%	SBNPP Smile - Growth	42.11%
50	Uti Leadership Equity Fund	0.00%	HDFC Equity Fund	4.94%	SBI - Magnum Comma Fund	41.89%
51	NSE	-8.65%	NSE	3.57%	SBI - Magnum Multiplier Plus Scheme 93	41.78%
52	BSE	-10.91%	BSE	0.56%	BSE	40.65%
53	FTSE	-27.02%	FTSE	-33.28%	FTSE	-22.82%
54	DOW JONES	-32.74%	DOW JONES	-37.62%	DOW JONES	-23.89%

* N.A. stands for Not Applicable.

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