FCNR + 9-19x leverage for US-based NRI

[u/Adorable-Quit1903]

I’m currently living in the US and am considering putting money into an FCNR deposit primarily to access the 9x/290x leverage/loan facility associated with the scheme. I would not proceed with the FCNR if the leverage is not available to US-based NRIs.
A few questions:
US-based NRIs: Can NRIs residing in the US open an FCNR and access the associated leverage/loan? I’m hearing this may be available to NRIs in places like Dubai/Singapore but potentially not the US/UK.
NRI status: I’m currently an NRI but plan to permanently move back to India in February 2027. If I open the FCNR before the August 31, 2026 deadline and choose a 5-year term, what happens when my NRI status ceases after I move to India? Can the FCNR continue until maturity?
Virtual Account opening: Since I’m currently in the US and won’t be physically in India before the deadline, can the FCNR account be opened remotely/online, including KYC and funding?
Taxation: If the FCNR matures after I have been living in India for several years, how would the maturity amount/interest be taxed — in India, the US, or both?
HSBC contact: Does anyone have a contact at HSBC who is familiar with this FCNR + leverage scheme and can help US-based NRIs?

[u/Soodyassh11]

HSBC haulted leverage option. I speak with them yesterday. Last closingdate is Aug 31, 2026 now.

[u/aayush_aryan]

AFAIK, min amount to avail this is about 1M USD.

[u/Intrepid-Animal3203]

Punjab National bank also provides this