keeping funds in india and using a debit card?

[manunidhi21]

hi seniors,
one of my friend suggested to keep a linked FD account in india with visa/master debit card for at least half the amount of what i plan to carry..

1) do i have to show at POE that i hav brought sufficient funds?
casd +DD..for me it is 17k as 1 adults and one child
2) does the idea useful abv ths amount for earning interest in india
and using debit card when it is required.
as Canadian banks hav less interest rate on Fd's

regards?

 

[omm]

Indian FD, Indian Bank accounts details will not accepted at landing time , POE officer will reject those documents as POF proof at landing time.

1) you must have to have valid POF, once POE officer asked to show those funds you must have to show @ landing time, $17k is for 3 applicants.
2) if you want to earn interest as per indian bank, here is the solution for you: Open NRI / NRO accounts with SBI (State bank of India) from India (even you can open NRE NRO accounts after landing too, my sugession is open these accounts from india if you want transfer your dollars back to India in INR). after landing find SBI toronto Branch (I guess 3branches are there in GTA area), deposite your money in NRE / NRO accounts and you will get interest on it in INR.

Hows this idea!!!!

OMM

hi seniors,
one of my friend suggested to keep a linked FD account in india with visa/master debit card for at least half the amount of what i plan to carry..

1) do i have to show at POE that i hav brought sufficient funds?
casd +DD..for me it is 17k as 1 adults and one child
2) does the idea useful abv ths amount for earning interest in india
and using debit card when it is required.
as Canadian banks hav less interest rate on Fd's

regards?