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As of November 2011:
Short Term (Approximately around 6 months)
Bank NameRate of InterestDeposit PeriodHDFC Bank7.75%6 month 16 daysICICI Bank7.75%190 daysPunjab National Bank8%180 days to Less than 1 yearState Bank of India7.25%91 days to 179 daysIndian Bank7.75%181 days to 9 monthsAxis Bank7.5%6 months to Less than 1 yearKarur Vysya Bank7.65%31 days to 270 daysIndian Overseas Bank7.75%91 days to 120 daysIDBI Bank8%91 days to Less than 6 monthsKotak Mahindra Bank7.75%91 days t0 180 days
What else can I help you with?
What is the interest rates offered by muthoot estates on fixed deposits?
12 .5 % for senior citizens
What are the different types of fixed deposits?
Fixed deposits come in various types to cater to diverse financial needs: Regular Fixed Deposits: Standard fixed-term deposits with a predetermined interest rate. Senior Citizen Fixed Deposits: Tailored for elderly individuals, offering higher interest rates. Tax-Saving Fixed Deposits: Provide tax benefits under Section 80C of the Income Tax Act. Cumulative Fixed Deposits: Interest is compounded and paid along with the principal at maturity. Non-Cumulative Fixed Deposits: Interest is paid at regular intervals, providing a steady income stream. Special Fixed Deposits: Customized options with unique terms and conditions, often offered by specific banks. Each type serves specific financial objectives, allowing investors to choose based on their preferences and requirements. Shriram Finance offering flexible tenures and returns of up to 9.20%* p.a. (Including 0.50%* p.a. for Senior Citizens and 0.10%* p.a. for Women)
Is fixed deposit an investment?
Yes. Any action where our money earns us some more money is an investment. In case of fixed deposits, banks pay us a fixed rate of interest on our deposits which is an income that our money is earning for us. So, definitely it is an investment.
What are the differences between a fixed deposit and a certificate of deposit?
A fixed deposit is a type of savings account offered by banks where you deposit a sum of money for a fixed period at a fixed interest rate. A certificate of deposit (CD) is similar but is typically offered by credit unions and has a higher interest rate but requires a minimum deposit and penalties for early withdrawal.
Is fixed deposit and recurring deposit rate of interest is same?
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.
What is the interest rates offered by muthoot estates on fixed deposits?
12 .5 % for senior citizens
What are bank interest rates on fixed deposits in Kenya?
Bank interest rates on fixed deposits in Kenya can vary depending on the bank and the duration of the deposit. On average, rates range from 4% to 10%, with higher rates typically being offered for longer-term deposits. It is advisable to check with individual banks for their current rates.
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
Are small business loans from the bank typically offered as fixed or variable interest rates?
Small business loans from banks are typically offered with fixed interest rates, meaning the interest rate remains the same throughout the life of the loan.
What are the different types of fixed deposits?
Fixed deposits come in various types to cater to diverse financial needs: Regular Fixed Deposits: Standard fixed-term deposits with a predetermined interest rate. Senior Citizen Fixed Deposits: Tailored for elderly individuals, offering higher interest rates. Tax-Saving Fixed Deposits: Provide tax benefits under Section 80C of the Income Tax Act. Cumulative Fixed Deposits: Interest is compounded and paid along with the principal at maturity. Non-Cumulative Fixed Deposits: Interest is paid at regular intervals, providing a steady income stream. Special Fixed Deposits: Customized options with unique terms and conditions, often offered by specific banks. Each type serves specific financial objectives, allowing investors to choose based on their preferences and requirements. Shriram Finance offering flexible tenures and returns of up to 9.20%* p.a. (Including 0.50%* p.a. for Senior Citizens and 0.10%* p.a. for Women)
Is fixed deposit an investment?
Yes. Any action where our money earns us some more money is an investment. In case of fixed deposits, banks pay us a fixed rate of interest on our deposits which is an income that our money is earning for us. So, definitely it is an investment.
C in a FD?
In a financial context, "C" in FD could refer to a corporation or a certificate of deposit. A corporation is a legal entity created to conduct business, while a certificate of deposit is a financial product offered by banks, where the investor deposits a specific amount for a fixed term at a fixed interest rate.
What interest rates on Fixed deposits are charged by Bank or NBFC in India?
The interest rates on Fixed Deposits are fluctuating from time to time for every Banks like HDFC, IDBI, ICICI / NBFCs like Bajaj Finserv in India. However, the present scenario is speaking something near around to 8%.
What are the differences between a fixed deposit and a certificate of deposit?
A fixed deposit is a type of savings account offered by banks where you deposit a sum of money for a fixed period at a fixed interest rate. A certificate of deposit (CD) is similar but is typically offered by credit unions and has a higher interest rate but requires a minimum deposit and penalties for early withdrawal.
Are fixed deposits placed with banks categorised as fixed or current assets?
Fixed deposits placed with banks are considered as current assets. Current assets are always assets that can be liquidated within 1 year. Fixed deposits can be withdrawn at any time, eventhough their placement periods can be longer than a year.
Is fixed deposit and recurring deposit rate of interest is same?
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.
What is Accounting entry of interest on fixed deposits?
fixed deposit A/c dr. to int on fixed deposit
