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What interest rates on Fixed deposits are charged by Bank or NBFC in India?
Wiki User
∙ 7y ago
Wiki User
∙ 15y agoThe Interest rates on Fixed deposits in India is around 8% (+/- 2% depending on the lending rates decided by the RBI)
Currently with severe credit crunch banks are offering rates of upto 10% per year
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India's high interest rate bank?
Fixed deposits for 3-5 years, UCO, Oriental, etc
What are interest rates on Fixed deposits in India?
Currently it is around 9 - 10% per annum * an extra .25 - .50% for senior citizens
Who are the targeted customer for fixed deposit in India?
WHO ARE THE MAJOR TARGET MARKET FOR FIXED DEPOSITS WHO ARE THE MAJOR TARGET MARKET FOR FIXED DEPOSITS Identify the major target market of fixed deposit
What is taxable investment?
An investment, whose returns are taxable can be termed as taxable investment. For ex: In India, the interest earned on bank deposits are taxable. Hence depositing money in fixed deposits can be considered as a taxable investment
Is yes bank an foreign bank?
No. YES Bank is a scheduled commercial bank that is allowed to provide banking services to the citizens of India. They can also accept fixed deposits from customers and pay interest on it. It is a private bank that is not owned by the government of India.
Who can fix the interest rates of NRI deposits in India?
Banks as per the directive of Reserve Bank Of India (RBI).
Is yes bank a commercial bank?
Yes. YES Bank is a scheduled commercial bank that is allowed to provide banking services to the citizens of India. They can also accept fixed deposits from customers and pay interest on it. It is a private bank that is not owned by the government of India.
What are the interest rates for term deposit in Scheduled Bank?
It depends on the tenure and the bank with which you want to open the term deposit or fixed deposit as they are commonly called in India. · For deposits that are less than one year the rate of interest is around 6-7% · For deposits that are one year or more the rate of Interest is around 8% · For special deposits that are 5 year tenure, the rate of interest is around 9% Add an extra 0.5% extra for senior citizens
What are different types of bank accounts?
In India: Savings Account Current Account Fixed Deposits account Recurring Deposits account DEMAT Account etc.
Is yes bank is scheduled bank or allowed for deposit receipt by RBI?
Yes. YES Bank is a scheduled commercial bank that is allowed to provide banking services to the citizens of India. They can also accept fixed deposits from customers and pay interest on it. It is a private bank that is not owned by the government of India.
What is term deposit?
Term Deposits usually refer to the deposits (amount deposited ) made for a fixed period say one or two years In India term deposits are referred to Fixed deposit which normally yields better rate of return than savings deposit. Rgds. uma Hope this helps U!!
How much interest does money get a year in a bank?
It depends on the type of deposit you have placed your money in. For ex: in India the money you will get in a year for a Rs. 10,000 deposit is as follows: a. Current account - They offer 0% interest. So, Money Earned = 0 b. Savings Account - They offer 3.5% interest. So, Money Earned = Rs. 350/- c. Fixed Deposit - They offer around 8% interest. So Money Earned = Rs. 800/- Though all banks in India offer 0% interest on current and 3.5% interest on savings account, the rate of interest offered on fixed deposits vary from bank to bank. It will be between 7% and 10% and the money you earn will vary accordingly.
