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
