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It depends on the tenure.
* 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 else can I help you with?
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
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.
Do all deposits gain interest?
Not all deposits gain interest. Deposits to a savings account in a bank usually earn interest. Security deposits sometimes earn interest depending on where you reside. Deposits into investments will earn interest and the rate depends on the state of the economy and the financial markets.
What is a market interest rate?
The market interest rate is the rate of interest on cash deposits or loan which is determined by the market. Factors such as demand and supply of cash in the market
Bank Rate refers to the interest rate at which?
Commercial banks receive deposits from the public
What Kind Of Benefits Will I Get?
If you invest in time deposits you get attractive interest rates with a election of flexible term deposit tenors in a variety of currencies. Also, it allows you to extend principal and interest rate automatically.
What is the relationship between short term and long term interest rate?
A short term interest rate occurs over a short period of time. A long term interest rate occurs over a long period of time.
Various strategies for promoting fixed deposits in Banks?
1. Increasing deposit rate of interest 2. Creating awareness among the public on the safety and use of fixed deposits 3. advertisements about the rate of interest and other schemes
What is the KIBOR?
The Karachi Inter-bank Offered Rate, or KIBOR, is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or inter-bank market.
What are the best returns for certificates of deposits?
This is subjective. The best rate of return would be an interest rate higher or equal to an interest rate one would get for the same amount of time with the same risk.
What is key policy rate?
The short term interest rate
Why do banks charge higher interest rates on the loans they make than they pay on deposits?
They are in business to make a profit. The spread between the loan rate and the rate on deposits is what keeps them alive.
