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Is fixed deposit and recurring deposit rate of interest is same?
Wiki User
∙ 13y ago
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.
Wiki User
∙ 13y ago
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Which is better recurring deposit or fixed deposit?
Actually both of them have their own benefits and drawbacks. In terms of rate of interest an fixed deposit will give you more interest than a recurring deposit. In terms of ease of operation and opening a recurring deposit is easier because it will need much less contribution and on a regular basis whereas you need to deposit in lumpsum in case of a FD.
What is the benefit of fixed deposit interest rates?
Fixed deposit interest rates is a guaranteed interest rate for the entire term of an investment. They allow for the customer to earn high interest rates.
Advantages of recurring deposit?
In terms of ease of operation and opening a recurring deposit is easier because it will need much less contribution and on a regular basis whereas you need to deposit in lumpsum in case of a FD. But, the rate of interest is less than Fixed Deposits. But it is much easier to use and operate.
Which bank have highest interest rate in kerala for fixed deposit?
catholic syrian bank
What are Negotiable Instruments of Deposit?
It is a negotiable bearer receipt issued by an approved Commercial or Investment Bank as evidence of a deposit placed with it for a fixed tenor at a specified fixed rate if interest.
Interest rate on recurring deposit in Indian overseas bank?
interest rate of recurring deposit in iob
Which is better recurring deposit or fixed deposit?
Actually both of them have their own benefits and drawbacks. In terms of rate of interest an fixed deposit will give you more interest than a recurring deposit. In terms of ease of operation and opening a recurring deposit is easier because it will need much less contribution and on a regular basis whereas you need to deposit in lumpsum in case of a FD.
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.
How do you calculate interest rate for fixed deposit for a month?
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What is the benefit of fixed deposit interest rates?
Fixed deposit interest rates is a guaranteed interest rate for the entire term of an investment. They allow for the customer to earn high interest rates.
Are most deposits fixed rate or variable rate?
Deposits offer only a fixed rate of interest. Though this rate of interest gets changed once in a while, a deposit which was opened before this interest rate change does not get altered. It will continue to earn the same rate of interest as was promised when the deposit was opened.
How do you calculate fixed deposit interest?
Fixed deposit interest is calculated using the simple interest concept Interest = (principal * no. of years * rate of interest) / 100 principal = the amount you deposited rate of interest = the amount in % Ex: Deposit amount - 10,000 Rate of interest = 10% no of days = 365 Interest = (10000 * 365 * 10) / (365*100) = 1000
Advantages of recurring deposit?
In terms of ease of operation and opening a recurring deposit is easier because it will need much less contribution and on a regular basis whereas you need to deposit in lumpsum in case of a FD. But, the rate of interest is less than Fixed Deposits. But it is much easier to use and operate.
How do you calculate recurring deposit interest rate?
B=p(1+r)n
How do you calculate fixed interest?
Fixed deposit interest is calculated using the simple interest concept Interest = (principal * no. of years * rate of interest) / 100 principal = the amount you deposited rate of interest = the amount in % Ex: Deposit amount - 10,000 Rate of interest = 10% no of days = 365 Interest = (10000 * 365 * 10) / (365*100) = 1000
What is a corporate fixed deposit?
A deposit made by investors with corporations for a fixed time period, for a predetermined/agreed upon rate of interest is called a "Corporate Fixed Deposits"
What are the disadvantages of six-month fixed deposit?
if the interest rate increases, they will not increase your. it will be based on the initial rate
