Hi all,
My spouse is an UK citizen and I am applying for a spouse visa from the USA (I am an Indian). She works as a sole director of a limited company. We are not showing her income as it requires lot of documentation. We are planning to go on the saving route instead. I have equivalent of 60500 UK pound in my current account in the USA. So we need some 2000 pound more ( we have British citizen children, but we do not have to show money for them). We also have money in term deposits in India: We had put money in it in 2012 and it will mature in 2017. I have the original term deposit certificate with me. Can I use it to supplement my savings in the USA. Being term deposits, they do not have regular statements. But I can withdraw money anytime i like with a 0.5% interest penalty and it is fully repatriable. I am copy-pasting the general description of the term deposit from the website of the bank. Please let me know what you think.
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NRE Term Deposits
• Rupee deposits of fixed tenure.
• Minimum period of 1 year.
• Maximum period of 10 years.
• Interest paid quarterly on Term Deposit Receipts (TDRs).
• Principal & interest amount are fully repatriable.
• Premature withdrawals permitted (conditional): On pre-mature withdrawal of the Deposit (after completion of 1 year), interest will be calculated at applicable rate for the period the Deposit has actually remained with the Bank less applicable penalty as under:-
NRE term deposits opened Penalty
Before 1st January, 2012 1%
From 1st January, 2012 0.50%*
* The interest paid shall be 0.50% below the rate applicable for the period deposit has remained with the Bank or 0.50% below the contracted rate, whichever is lower.
o No interest is payable if the deposit is withdrawn before one year.
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