Depositing funds in India

Discussion in 'Economics' started by PocketChange, Sep 26, 2008.

  1. you trust indian banks?????
  2. You will do better with austrialia, brazil, and new zealand. They are paying 5.25% to 6.25% interest on 3 month CDs If you feel like a little risk, try S. Africa...get 8.75% there. If you want something a little closer to home, try mexico...get 5% there.

    Min 10k deposit i believe though.
  3. Surdo


  4. Why are those rates so high? That's unusual for such a developed Western country.
  5. The don't allow non-residents to open accounts I tried already. Either does NZ or Australia. I don't know why Patriot Act. Actually National Bank of NZ said I could open an account in person if told them I had an intention to stay for more than 2 months. Kind of deal killer flying from Denver to NZ to open an account. Having read a few articles on Iceland they were subject to currency runs a couple of times by large US funds due to their small, overall size. In Canada the best rate I could find was 3% I recall, paltry. In Ukraine and Serbia they pay 18%, but not too stable.