There are three distinct types of fixed deposit schemes extended by the Cosmos Co-Operative Bank, viz.:ĭetails about these FD schemes can be checked further: Get Lifetime FREE Step UP Credit Card With No Annual FeesĪpply Now Types of Cosmos Bank FD Schemes Interest Rates on RFC Deposits applicable for the month of May 2021 are mentioned below. Interest earned is taxable in India unless the depositor qualifies for Resident but Not Ordinary Resident (RNOR). Interest on such deposits is earned in the same currency in which deposits are made. They can park their savings in foreign currency without having to convert into INR. This type of FD account is ideal for NRIs who have returned to India.
RFC or Resident Foreign Currency Deposit is a type of fixed deposit that can be maintained by Indian residents in currencies other than the Indian National Rupee (INR). Book SBM Bank FD & Get Lifetime FREE Step UP Credit CardĪpply Now Applicable Rates for Cosmo FCNR (B) and Cosmo FCNR(B) Royale Deposits with effect from are as followsĬosmos Bank FD Interest Rates for RFC (Resident Foreign Currency) Deposits
