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how much interest will you get at the end of the year if the interest is 2.05 pa?
Assuming it is 2.05 percentper annum, then 2.05% of the amount that you deposit (or 2.05% of the average amount of your deposit).Assuming it is 2.05 percentper annum, then 2.05% of the amount that you deposit (or 2.05% of the average amount of your deposit).Assuming it is 2.05 percentper annum, then 2.05% of the amount that you deposit (or 2.05% of the average amount of your deposit).Assuming it is 2.05 percentper annum, then 2.05% of the amount that you deposit (or 2.05% of the average amount of your deposit).
What is the definition of money market checking?
Money Market Checking accounts can be opened by an individual with a certain amount of deposit. The funds is invested by the bank and cannot be withdrawn for a period of time, the intrest can be withdrawn. Going below the initial deposit is also subjected to a fee.
How much money can you deposit into the bank without raising red flags with the tax authorities?
The amount of money you can deposit into the bank without raising red flags with the tax authorities is typically 10,000 or less. Depositing larger amounts may trigger a report to the authorities to prevent money laundering or tax evasion.
What is a deposit that gives a certain amount of interest in a specified amount of time?
time deposit
What is the Difference between fixed deposit and recurring deposit?
Hi, Fixed Deposit : Deposit certain amount for certain period of time either monthly/yearly and fetching of amount is optional. If you need to get the FD amount in 1 year (example), interest will be added with the actual amount . The interesting rate is depends on your bank. Recurring Deposit : Deposit fixed amount in regular time period. At final you will get the total amount with specific interest.
Does a deposit over 10000 have to be reported on income tax?
In the U.S., a deposit over $10,000 does not automatically need to be reported on your income tax return; however, banks are required to report cash transactions over this amount to the IRS using Form 8300. This reporting is primarily for anti-money laundering purposes. Income tax reporting depends on the source of the funds; if the deposit represents taxable income, it must be reported regardless of the amount. Always consult a tax professional for personalized advice.
What amount you deposit into a saving account could be insured by the federal deposit insurance corporation up to what amount?
$250.00
Maximum amount of cash in savings account?
No Limit. If you are going to deposit more than Rs. 50,000/- you need to provide your PAN card number. If you are going to deposit more than Rs. 10,00,000/- (10 lakhs) you need to provide the source of income of the money. These are done to ensure that black money is reduced and also to identify possible money laundering activities.
What is loan against fixed deposit?
Fixed deposit is the case in which you deposit the amount for a particular time period. Now the loan which you get against your deposit is a specific amount of money which is differ according to bank policy.
What is the maximum amount of cash you can deposit in a bank?
Banks will accept any amount if you deposit it. However any cash deposit made over $10,000 will be reported to the IRS.
What was the amount of the first and last deposit made into your account?
The first deposit into the account was 500, and the last deposit was 1,000.
Is there a limit to the amount of cash you can deposit into someone else's account at a different bank Is there a limit where identification is required?
Yes, there can be limits on the amount of cash you can deposit into someone else's account at a different bank, and these limits vary by institution and jurisdiction. Many banks may require identification for deposits above a certain threshold, often to comply with anti-money laundering regulations. It's advisable to check with the specific bank for their policies and any required identification for such transactions.
