UK ISA or NRE FD ?

Discussion in 'Money Matters' started by meenurani, Mar 5, 2015.

  1. meenurani

    meenurani Silver IL'ite

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    Hi all,

    Both my husband and I are not very good at handling finance. We both work full time and make reasonably good money . All the money sits in current account without earning any interest. One of our friends advised us to open an ISA account in uk which is tax free account. But when I checked the interest it pays only 1% interest. And when I checked NRE FD rates, it offers 8.5% with SBI.(I have been living here for 6 years and my husband 12 years , yet no NRE account :)).

    We both are British citizens and own a home in the UK. What do you think, is it a good idea to put money in ISA or NRE FD for long term. We have this doubt only because NRE FD deposits money in rupee and not sure whether we will desired money when we repatriate.

    Thanks
     
  2. Shanvy

    Shanvy IL Hall of Fame

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    Check FCNR deposits and compare them with nre fd. yes right now nre fd get almost the same interest as domestic fd's.

    no idea about isa, somebody in similar situation may have a better idea.
     

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