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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 23rd 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  
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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