FCNR is a type of Bank Account (Foreign Currency Non Resident Bank - TopicsExpress

FCNR is a type of Bank Account (Foreign Currency Non Resident Bank Account) wherein a Non-Resident Individual of Indian Nationality or Indian Origin can maintain a Fixed Deposit in Foreign Currency and earn regular interest on the same. As the NRI can maintain his account in the foreign currency, the risk for fluctuations in Currency Conversion is eliminated and the investor can earn a fixed rate of interest on his FCNR deposits which is usually more than the country in which the NRI is residing.

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