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If you want Rs. 1 lakh per month from a bank deposit as interest you need to deposit Rs. 1.5 crores in a fixed deposit that pays 8% interest per year.
@ 8% your deposit of 1.5 crores will earn Rs. 12 lakhs as interest every year which when divided by 12, you will get 1 lakh every month. Banks will be more than happy to even offer a slightly higher rate - sau 8.5 or 9% for such large deposits.
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∙ 10y ago
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What happens to savings accounts when a banck declares bankrutcy?
It depends on what type of bank it is. If it is a Government/Nationalized bank, the government intervenes and ensures that all the money deposited in the bank by the customers is returned. Central Banks, usually have a deposit insurance which covers a maximum amount until which the central bank will pay if any of the member banks declare bankurptcy. In india it is Rs. 1 lakh. So, if a private bank declares bankruptcy in India, RBI will pay upto 1 lakh per customer as compensation. 1 lakh is the upper limit. If your account balance was less than 1 lakh, you will get only as much as you had in your account.
Pay scale of assistant manager in icici bank?
Rs. 4.25 lakh
In case of bank failure which of the following guarantees customer deposits up to a certain amount of money per account?
In USA - FDIC does it. FDIC stands for Federal Deposit Insurance Corporation. The purpose of this is to provide "Deposit Insurance" which guarantees the safety of cash deposited in its member banks, currently up to US $ 250,000 per depositor per bank. Currently FDIC insures deposits at more than 7500 institutions in the USA. This is to ensure that customers do not lose out their hard earned money in case of bank failures or bankruptcy. In India - RBI does it. RBI stands for Reserve Bank of India. They insure deposits worth 1 lakh from every customer per bank.
Have Banks Revised their Rate of Interest on Savings Accounts Already?
Yes. Not many banks have done it so far, but some of the Private Banks have done so already. 1. YES Bank - 6% for all Savings Accounts 2. Indus Ind Bank - 5.5% for Savings Accounts with balance of less than 1 Lakh and 6% for Savings Accounts with balance of greater than 1 Lakh 3. Kotak Mahindra Bank - 5.5% for Savings Accounts with balance of less than 1 Lakh and 6% for Savings Accounts with balance of greater than 1 Lakh More Banks are expected to follow suit.
What is a lakh worth?
a lakh=100,000
How much interest will a deposit of rs 1 lakh fetch in 1 month in sbi?
1lakh willget
What happens to savings accounts when a banck declares bankrutcy?
It depends on what type of bank it is. If it is a Government/Nationalized bank, the government intervenes and ensures that all the money deposited in the bank by the customers is returned. Central Banks, usually have a deposit insurance which covers a maximum amount until which the central bank will pay if any of the member banks declare bankurptcy. In india it is Rs. 1 lakh. So, if a private bank declares bankruptcy in India, RBI will pay upto 1 lakh per customer as compensation. 1 lakh is the upper limit. If your account balance was less than 1 lakh, you will get only as much as you had in your account.
What is incom of atif aslam?
2.5 lakh per month
How much interest you ii get for 5 lakh in 2 months in fix deposit?
The answer will depend on the rate on interest!
How much does a veterinary doctor earn in haryana?
2 lakh per month
Pay scale of assistant manager in icici bank?
Rs. 4.25 lakh
How much do an AME earn?
More than 3 lakh per month...it depends on authorization of AME
Im a bsc graduate and you want to do software course in computer through which you can earn at least 1lacper month?
Do Hacking Especially in Banks .You can Earn More than 1 Crore . Leave 1 Lakh.. :)
Which agency insured blank deposits?
In USA - FDIC does it. FDIC stands for Federal Deposit Insurance Corporation. The purpose of this is to provide "Deposit Insurance" which guarantees the safety of cash deposited in its member banks, currently up to US $ 250,000 per depositor per bank. Currently FDIC insures deposits at more than 7500 institutions in the USA. This is to ensure that customers do not lose out their hard earned money in case of bank failures or bankruptcy. In India - RBI does it. RBI stands for Reserve Bank of India. They insure deposits worth 1 lakh from every customer per bank.
In case of bank failure which of the following guarantees customer deposits up to a certain amount of money per account?
In USA - FDIC does it. FDIC stands for Federal Deposit Insurance Corporation. The purpose of this is to provide "Deposit Insurance" which guarantees the safety of cash deposited in its member banks, currently up to US $ 250,000 per depositor per bank. Currently FDIC insures deposits at more than 7500 institutions in the USA. This is to ensure that customers do not lose out their hard earned money in case of bank failures or bankruptcy. In India - RBI does it. RBI stands for Reserve Bank of India. They insure deposits worth 1 lakh from every customer per bank.
How many thousands in 4.40 lakh?
4.40 lakh/1000 = 4404.40 lakh/1000 = 4404.40 lakh/1000 = 4404.40 lakh/1000 = 440
Have Banks Revised their Rate of Interest on Savings Accounts Already?
Yes. Not many banks have done it so far, but some of the Private Banks have done so already. 1. YES Bank - 6% for all Savings Accounts 2. Indus Ind Bank - 5.5% for Savings Accounts with balance of less than 1 Lakh and 6% for Savings Accounts with balance of greater than 1 Lakh 3. Kotak Mahindra Bank - 5.5% for Savings Accounts with balance of less than 1 Lakh and 6% for Savings Accounts with balance of greater than 1 Lakh More Banks are expected to follow suit.
