There are two ways I know:
1. ICICI Bank Deposits for Non-Resident Indians (NRIs): These are repatriable funds. Just open an NRE account and create an Fixed Deposit to get that kind of interest. The income is tax-free in India.
2. I-Bonds from US Govt at TreasuryDirect: This is a good way to ride out the coming inflation due to oil crisis! The I-bonds always pay a couple of percentage points higher than the inflation rate – something that is not always possible on the stock market. Here you can also enrol online and get the money for investment taken out from your checking account automatically!
If you know of more ways, please do let us know through the comments….
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