FCNR Monthly Income Deposits Calculator
Posted by Dinesh onOur FCNR discounted interest for discounted interest calculator helps to find out the discounted interest based on principal, rate of interest.
Calculation of FCNR Monthly Income Deposits
Formula:
A = ( P
Where,A = FCNR Monthly Discounted Interest
P = Principal Amount
r = Rate of Interest (i)
FCNR accounts are protected against forex rate risks. The deposit is maintained in a foreign currency. The interest earned from a FCNR account is exempt from Income Tax.