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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 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
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%

If you wish to avail the services of the BUREAU, please contact keynoteatnribanksdotcom  Ph.No.: (0091-281) 2464099, 2463367

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