CD interest rates & best bank

power999 · Post by **power999** » Mon Apr 04, 2016 1:55 am

Hi,

what are the best banks which give good interest rate on CD in USA. NRE FD interest rates are better than USA CD rates but if the Dollar gets stronger and Rupee gets weaker then repatriation from NRE FD to USA gives us less dollars than what we transferred to NRE account earlier. currently $1=66 Rs. If it goes over 72 Rs. in next 3 years then our repatriation of rupees conversion to dollar gives us less dollars.

is there any best savings scheme in banks/market other than CD with same kind of features as CD with high interest with low risk.

FB2020 · Post by **FB2020** » Mon Apr 04, 2016 2:24 am

power999;627782Hi,

what are the best banks which give good interest rate on CD in USA. NRE FD interest rates are better than USA CD rates but if the Dollar gets stronger and Rupee gets weaker then repatriation from NRE FD to USA gives us less dollars than what we transferred to NRE account earlier. currently $1=66 Rs. If it goes over 72 Rs. in next 3 years then our repatriation of rupees conversion to dollar gives us less dollars.

is there any best savings scheme in banks/market other than CD with same kind of features as CD with high interest with low risk.

There's no such thing as high interest and low risk.
You can check out vanguard short term corporate bonds, or other bond funds (short / medium term). But beware of interest rate risk on bond funds though.
If you just want "safe" CDs only, check bankrate.com for best rates.

Another option is FCNR accounts that gives little higher interest rates keeping your money in $$.

power999 · Post by **power999** » Mon Apr 04, 2016 3:05 am

FB2020;627783There's no such thing as high interest and low risk.
You can check out vanguard short term corporate bonds, or other bond funds (short / medium term). But beware of interest rate risk on bond funds though.
If you just want "safe" CDs only, check bankrate.com for best rates.

Another option is FCNR accounts that gives little higher interest rates keeping your money in $$.

is FCNR account Deposit account like FD or CD for some period to save, i heard this is not like savings or checkings account. With NRE savings account can i open FCNR account in online. i have NRE account already can i able to open FCNR in online or should i send all the paper work again to bank to open FCNR account.

FB2020 · Post by **FB2020** » Mon Apr 04, 2016 5:37 am

power999;627784is FCNR account Deposit account like FD or CD for some period to save, i heard this is not like savings or checkings account. With NRE savings account can i open FCNR account in online. i have NRE account already can i able to open FCNR in online or should i send all the paper work again to bank to open FCNR account.

I don't have an FCNR account, and not sure of how its opened or its details. i know its maintainted in US $ with indian banks.
google up FCNR account. many indian banks can open it - SBI, ICICI, HDFC etc.

greyfri · Post by **greyfri** » Fri Apr 08, 2016 4:00 pm

FCNR rates are only marginally better than the best US CD rates. You can get 1.25% or so on 1 year CDs at some online banks (like Sallie Mae). I believe 1 year FCNR rates are 1.8% or so, so the difference is quite small. After tax difference will be even lower

honeyglue · Post by **honeyglue** » Sat Apr 09, 2016 3:03 pm

OP, if you are looking for the best CD rates in US, CIT Bank is among the best right now. You can check it on bankoncit.com