At ICICI Bank, we believe
in providing you with the most competitive returns on
your hard earned money. Now you can earn even higher
returns on your deposits by investing in Rupee Plus
Plan.
What
does the Rupee Plus Plan offer you
NRE FD interest rate being regulated
by RBI, is nearly same across banks. In Rupee Plus
Plan we have devised a way to make your money work
harder and smarter and earn higher returns in terms
of INR as compared to a NRE FD.
Currencies:
You can bring funds in any convertible currency, which will be converted to USD/GBP/EUR as per your request (If not in these currencies already).
How
does the Rupee Plus Plan Work?
Instead of putting the money in NRE FD directly, the money is put in USD/GBP/EUR denominated FCNR. This FCNR earns interest as per prevailing FCNR interest rates. Additionally, at the time of booking the FCNR a Forward Agreement is also drawn to exchange the maturity amount of USD/GBP/EUR to Rupees at a given rate (Forward Rate).
Rupee Plus Plan Advantage
On an average
the returns are significantly higher compared to putting
your money in NRE FD as per the prevailing market rates.
Returns in
Rupee terms are assured once the deal is booked irrespective
of the future movements in currency markets
