FCNR Cash Certificates Issue Prices Calculator
Posted by Dinesh onCalculate FCNR (Foreign Currency Non Resident) Certificates issue price based on Half Year compounding value.
Calculation of Foreign Currency Non Resident (FCNR) Certificate Issue Price
Formula:
A = P
Where,A = FCNR cash certificates issue price
P = Face Value
r = Rate of Interest (i) / 200
n = Number of half years
FCNR was introduced in 1975 to encourage NRI deposits.