0
There are two types of deposits accounts that earn an interest in banks. They are:
A Fixed Deposit Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a FD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit
A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.
What else can I help you with?
Highest Interest in which deposit - recurring deposit or fixed deposit?
how to calculate Recurring deposit interest ?
What is Tenure of deposit in month for recurring deposit?
interest
How do I get the best high certificate of deposit interest rates?
You will recieve a higher rate of interest as your deposit amount increases.
What is not a considered a debit?
direct deposit
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.
Highest Interest in which deposit - recurring deposit or fixed deposit?
how to calculate Recurring deposit interest ?
What has the greater value 25'912 cash plus 29913 interest deposit or 18608 cash plus 37200 interest deposit?
25'912 cash plus 29913 interest deposit or 18608 cash plus 37200 interest deposit
Which has the greater value 24625 interest deposit plus 26250cash or 15840 interest deposit plus 36250cash?
15840 interest deposit plus 36250 cash is greater.
What is Tenure of deposit in month for recurring deposit?
interest
Which has greater value 52565 Cash plus 33455 Interest Deposit or 39999 Cash plus 44925 Interest Deposit?
my Question is which has greater value? $52.565 cash plus $33.455 interest deposit or $33.999 cash plus $44925 interest deposit
Interest rate on recurring deposit in Indian overseas bank?
interest rate of recurring deposit in iob
How do I get the best high certificate of deposit interest rates?
You will recieve a higher rate of interest as your deposit amount increases.
Where could a person find the interest rates for certificates of deposit?
A person could the interest rates for certificates of deposit by using an interest rate calculator where the amount of the deposit is entered into an equation and the end result will be how much interest will be earned for the term you want.
What is not a considered a debit?
direct deposit
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.
What are the features of fixed deposit?
1. You will get a certificate for the deposit 2. You can opt for periodic interest payment or total interest payment at the end of the deposit duration 3. you can get loans against the deposit 4. you can use the deposit as a collateral for loans etc...
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
