Posted by: Mr. D May 6, 2022
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I do have dollar account in a major Bank but I was not aware they were lending out money @3%, so lets say you send $10K to Nepal then you are saying that my $10K can stay in the fixed deposit and, they will give approx 12Lakhs for just 3% APY, never heard of it.. but one thing you need to notice is they are not going to pay you 11% on that $10K, I think, they barely pay 2-3% APY on the dollar account.
I do have dollar account in a major Bank but I was not aware they were lending out money @3%, so lets say you send $10K to Nepal then you are saying that my $10K can stay in the fixed deposit and, they will give approx 12Lakhs for just 3% APY, never heard of it.. but one thing you need to notice is they are not going to pay you 11% on that $10K, I think, they barely pay 2-3% APY on the dollar account.