vn bank rate is 14% but if you shop around you can get even higher rate
http://vietnam.deposits.org/
http://vietnam.deposits.org/
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Indian banks paying relatively high interest rates
- Thread starter BA_Trader
- Start date
Quote from morganist:
This is what Bearice told me and he lives in India. I think they must have a different rate. Seriously ask Bearice. He will know more than anyone here.
Will do.
@Bob - yeah I figure the FX is going to play in my favor when it's time to pull the money out... still might consider hedging it though.
@peil - I'll look into that but really not interested in gov't debt. Indian banks need money to meet reserve requirements to keep up with a growing economy. The high interest rate is not based on low quality... it's based on demand.
You basically have to be an indian citizen or what is called an NRI (an offspring of a current or former indian citizen). If you are Indian by race then you can apply for an NRI account even if you don't live in India. It's a great system. My wife is indian and she has money in india and has invested in an index arbitrage fund that pays here 10%/year (Shorting isn't allowed so banks with stock inventory have a huge advantage over everyone else). She doesn't care about the fx risk because we use the money in india.
Quote from nkhoi:
vn bank rate is 14% but if you shop around you can get even higher rate
http://vietnam.deposits.org/
Nice resource... thanks!
Quote from BA_Trader:
Nice resource... thanks!
you can look on those % all day long,but 1) as been mentioned above already-in most cases you must be a citizen of this country.
2) have a local permanent address. 3) no,you can't open an account online. you have to be physically presented in the branch.
4)if you that the open an account is piece of cake-think again.
and after all this there is another host of different problems..moving money out of USA,into USA, reporting taxes and foreign accounts,bank failure risk and off course the currency risk, that already been mentioned above. if this is isn't enough, then go for it..
good luck!
Quote from Bob111:
you can look on those % all day long,but 1) as been mentioned above already-in most cases you must be a citizen of this country.
2) have a local permanent address. 3) no,you can't open an account online. you have to be physically presented in the branch.
4)if you that the open an account is piece of cake-think again.
and after all this there is another host of different problems..moving money out of USA,into USA, reporting taxes and foreign accounts,bank failure risk and off course the currency risk, that already been mentioned above. if this is isn't enough, then go for it..
good luck!
Exactly.
Short a small USDINR position. It's all the upside w/o any regulatory hassles. You're long INR whether you own the notes or simply earning the FX swap via short USDINR. The OTC spread on USDINR is 80-100 pips.
As atticus mentions, it's all about FX... You're being compensated for running the exchange rate risk. If you feel this compensation is adequate, by all means go for it.
Quote from nkhoi:
vn bank rate is 14% but if you shop around you can get even higher rate
http://vietnam.deposits.org/
interesting list which doesn't include Brazil and most under South American countries. any idea why this is the case?
Need a strong bank.. maybe HSBC to setup a sweep account moving funds from an Indian account to a Brazilian account and back each day. Should be able to collect interest on both sides... 20%+ annual return would be worth the effort.