Deposit Schemes

Rupee Multiplier

    At IndusInd Bank, we believe that the best banking experience are those that give you more than just what’s expected. In line with the above, we are pleased to present to you – ‘Rupee Multiplier’ that enables you to maximum your returns on your FCNR Deposits.

    Rupee Multiplier will be an asset to your investment portfolio and can be used as an effective diversification option.

    Rupee Multiplier is a forward contract against an underlying FCNR deposit, which allows you to earn a higher effective yield* vis-à-vis a regular FCNR deposit or an NRE deposit.

    A forward contract agreement is entered between the Bank and you wherein the Bank agrees to buy foreign currency (FCNR maturity proceeds) from you at a pre-agreed rate. Depending on the currency market rates, you would earn a premium and thereby a higher effective yield on your FCNR Deposit.

    Rational of customers to go for Forward Contract

    • Protection from exchange rate fluctuation
    • End rupee value of the Deposit is known upfront
    • Choice of currencies available vis-à-vis USD, GBP, EUR, JPY, AUD, CAD depending on their yields against INR
    • Enhancing the yield through an interest rate arbitrage opportunity
    • Maturity proceeds are available in repatriable form in your NRE Savings Account

    Example: Enhancing the Yield

    A customer who remits USD 10,000 for a tenor of 1 year to invest in a deposit would evaluate the following yield / return.

      FCNR Deposit
    Deposit Amount (USD) 10,000
    Spot Rate 45.5
    Deposit Interest Rate 1.84%
    Interest Earned (USD) 184
    Conversion Rate (Forward Rate) 47.57
    Redemption Value (USD) 10,184
    Redemption Value (INR) 484,453
    Duration 1 Year
    Actual Yield 6.47%

    The above example indicates that the customer could enhance his yield by retaining the deposit in foreign currency and entering into a forward contract. The net impact would ensure that the forward rate + deposit rate can be used to gain a better rate by investing in a FCNR (B) deposit and then converting to INR at the end of the tenor.

    The customer earns a yield of 6.47% by investing in FCNR Deposit with Forward Rate option.

     *Higher effective yield is basis the rates prevailing in the currency market for a given foreign currency vis-à-vis INR subject to the forward contract being in force till the maturity of the contract

    To know more kindly get in touch with your respective branch. Alternatively, you can write to or call us for more details.

    Toll Free No.- 1800-22-0061/1800-209-0061 or 022-4406 6666.

    * Please refer to the Schedule of Charges for details. All offers subject to change at the sole discretion of the Bank. The above yield is only indicative in nature. Please get in touch with your Branch / Relationship Manager for current rates.

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