How is interest paid on USD fixed deposits booked on the app?

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• What is the Belong USD FD?

  The USD Fixed Deposit on Belong is a USD-denominated FD offered in partnership with RBL bank’s GIFT City unit. The key highlights of this FD for NRIs are: Higher interest rates: Indian banks typically provide higher interest rates than NRIs’ local ...

• How is the USD FD on Belong better than FCNR deposits?

  Conceptually, they are similar to FCNR deposits, but there are some key differences which make them better than FCNR deposits. Unlike FCNR deposits, which have a minimum tenure of 1 year, Belong USD FDs are available for lower tenures as well - 3 ...

• What are GIFT City Fixed Deposits?

  These are fixed deposits offered by banks (both Indian and foreign) located in the Gujarat International Finance Tec-City (GIFT City), India's upcoming global financial services hub. Conceptually, they are closest to FCNR deposits offered by Indian ...

• Who provides the USD fixed deposits on Belong?

  Our current FD is in partnership with RBL bank. You will also receive a FD receipt from RBL bank in your name when you book an FD. Belong, under its PSP license, acts as a facilitator for customer’s KYC and money movement for creating and managing ...

• Are returns on fixed deposits guaranteed?

  Yes, FD returns are guaranteed by the partner bank. The pre-determined interest rate will be fixed for the entire term of your FD, and you'll know exactly how much you will earn when it matures.