GCI pays .25% on Forex and 1% on all of their other products. They have a full terms rundown on their website of all of their products. They allow mobile trading, web trading and ECN training.
Yes, most banks do offer CD's or, Certificates of Deposits. Generally Certificates of Deposits are time deposits, a certain denomination of money that you take a deposit on and that accrues interest until it is 'mature' at which time you can usually extend it, or withdraw it with the interest added. You can usually withdraw your money early but if you do, you will forfeit all or much of your interest.
The interest earned will fluctuate with the interest rate and type of account. As of March 2013 interest rates, the daily interest accrued would be approximately $21,918.
Banks make money by loaning out money that has been deposited in the bank and charging interest on it. They are limited as to how much money they can loan by how much money has been deposited in the bank. To encourage people to deposit money in the bank they offer to pay some interest on the deposits. The interest paid on the deposits is less than what they charge people who borrow that money. For example: they might pay 1% annual interest on a deposit of $100,000 - which will cost them $1,000. While that money is on deposit, they loan out $80,000 of it at 5% interest - which makes them $4,000 - for a profit of $3,000. They interest they pay to their customers is an inducement for them to make deposits so that they have more money to loan out and thus can make more money.
Many banks offer certificates of deposits. Wells Fargo offer certificates of deposits up to 250,000 dollars, with a six month interest rate of 0.05 percent.
No. In most cases the rate of interest offered on fixed deposits and recurring deposits is different. Usually the rate of interest on a fixed deposit is much higher than a recurring deposit because you will be depositing the entire amount in one shot and leave it with the bank for the duration whereas in a recurring deposit you'll pay only the part of the money at a time. So the difference.
They charge a much higher interest on loans than they pay on deposits.
Usually Time deposits earn an interest of around 2-4% per annum
Yes, most banks do offer CD's or, Certificates of Deposits. Generally Certificates of Deposits are time deposits, a certain denomination of money that you take a deposit on and that accrues interest until it is 'mature' at which time you can usually extend it, or withdraw it with the interest added. You can usually withdraw your money early but if you do, you will forfeit all or much of your interest.
7000*0.03*6 = 1260
The interest earned will fluctuate with the interest rate and type of account. As of March 2013 interest rates, the daily interest accrued would be approximately $21,918.
A CD will pay higher rates than a saving accounts because they are very safe, even the best interest rates for certificates of deposits are lower than most other investment. in fact, the highest rates offered by very safe banks can be as much as 40% higher than national averages.
Banks make money by loaning out money that has been deposited in the bank and charging interest on it. They are limited as to how much money they can loan by how much money has been deposited in the bank. To encourage people to deposit money in the bank they offer to pay some interest on the deposits. The interest paid on the deposits is less than what they charge people who borrow that money. For example: they might pay 1% annual interest on a deposit of $100,000 - which will cost them $1,000. While that money is on deposit, they loan out $80,000 of it at 5% interest - which makes them $4,000 - for a profit of $3,000. They interest they pay to their customers is an inducement for them to make deposits so that they have more money to loan out and thus can make more money.
Many banks offer certificates of deposits. Wells Fargo offer certificates of deposits up to 250,000 dollars, with a six month interest rate of 0.05 percent.
A Bank is an organization that accepts customer cash deposits and then provides financial services like bank accounts, loans, share trading account, mutual funds, etc. A NBFC (Non Banking Financial Company) is an organization that does not accept customer cash deposits but provides all financial services except bank accounts. a) A bank interacts directly with customers while an NBFI interacts with banks and governments (b) A bank indulges in a number of activities relating to finance with a range of customers, while an NBFI is mainly concerned with the term loan needs of large enterprises (c) A bank deals with both internal and international customers while an NBFI is mainly concerned with the finances of foreign companies (d) A bank's man interest is to help in business transactions and savings/ investment activities while an NBFI's main interest is in the stabilization of the currency
to show you any events that happened with your money (deposits, withdrawls, fees, interest earned) and to show you how much money you have in your bank account
No. In most cases the rate of interest offered on fixed deposits and recurring deposits is different. Usually the rate of interest on a fixed deposit is much higher than a recurring deposit because you will be depositing the entire amount in one shot and leave it with the bank for the duration whereas in a recurring deposit you'll pay only the part of the money at a time. So the difference.
Many decisions pertaining to financial management include how much risk to take on, what projects will make the most money and what interest rates are acceptable for the business. Financial managers make most of these decisions with a team.