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Bank Deposits

FCNR

A FCNR deposit, or Foreign Currency Non-Repatriable account deposit, is a type of Fixed Deposit Foreign Currency account strictly for depositing, not for saving. It allows for deposits in major currencies such as US Dollars, UK Pounds, Canadian Dollars, Deutsche Marks, Japanese Yen, and Euros. Unlike a savings account, this type of deposit offers the potential to earn higher interest rates.

NRO

A common term in the realm of finance, NRO stands for Non-Resident Ordinary account. This account is specifically designed for Non-resident Indians, allowing them to save or...

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Savings bank account

's deposits Let's discuss a financial term that may seem commonplace but holds significant importance in the world of banking and finance - the savings account. This type of ...

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Borrower

A borrower, whether an individual or a company, is someone who obtains money from a lender for a specific purpose. The borrowed funds are utilized for a set period of time, ...

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FCNR

A FCNR deposit, or Foreign Currency Non-Repatriable account deposit, is a type of Fixed Deposit Foreign Currency account strictly for depositing, not for saving. It allows f...

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