Certificates of Deposit

CD is held until maturity and money withdrawn together with accrued interest. In exchange for keeping the money, institutions usually grant higher interest rates than they do on accounts from which money may be withdrawn on demand.

check

Different banks have different procedures when checks are deposited in the wrong account name. If someone writes to the bank manager, they need to include the wrong name and correct account name is sohan lal and why the accident occurred.

money in a savings account

On deposit slips, like on checks, the account number is usually the second number. If in doubt, the routing number, at least in the United States will always contain nine numbers.

No

Temporary transfer allows you time to get your paperwork in order and you can come back. Deputation means you are not allowed to come back again.

It depends on the type of account and facilities provided. In India, for a savings account it is either Rs. 500/- or Rs. 1000/-

There are even banks that ask for Rs. 5000/- as initial deposit for the features they provide.

Sovereign Bank was bought out by Banco Santander.

A Fixed Deposit involves locking a particular amount of money for a certain time period, say Rs 20000 for 1 year, at a much higher rate of interest than being given on amount in a savings account. The interest on Fixed Deposit varies with the state of economy, being much higher when inflation is high (so that people save more and spend less), sometimes being as high as 10% per annum , to as low as 6% per annum, when economy is going good and inflation is low.

To create a FD, you normally need to have a savings account with that bank. Since interest accrued on a FD is much much higher than that on a savings account, its wise to keep money parked in these instruments.

However one must be sure to balance their needs well so that they do not have to break an FD before maturity to meet their daily requirements. It means that if a FD is broken before its maturity, a penalty is applied, and hence the returns come out to be much lower comparatively. So make sure your needs are well taken care of, before you park the money in fixed deposits.

There are so many popular Banks like HDFC, Axis, ICICI and NBFCs like Bajaj Finserv which offers high interest rate on Fixed Deposit.

no

Term deposits are deposits kept in the bank for a fixed period of time with earn you interest as decided at the time of making the deposit. You are generally expected to keep your account active and open till the deposit duration. Premature withdrawals attract a penalty on the interest component.

Ex: Let us say you open a term deposit of $10,000/- for 1 year at 8% rate of interest today, next year on the same day you would get $10,800/-

are issued in exchange for a deposits of funds by most American banks are negotiable meaning they can be sold to another holder before maturity

Deposits can be made only in the bank in which you have an account. Banks that offer core banking service, give you the option of using any of their branches, but deposits can be done only in the same bank and not a different bank.

Public banks are ones that are fully or partially owned by the government of that country. A private bank is one that is owned by an individual or by a group of people.

The answer to your question is very simple. Banks do not lend ANY of the money you have deposited out to ANYONE. When a bank makes a loan it is done like this. Lets say you walk into the bank and want to buy a car. You ask the bank to "loan" you $10,000. The bank goes to your account and with a bookkeeping entry puts $10,000 into your account. They just create the money out of THIN AIR. Now there are rules that govern how much money a bank can loan. The system used in the united States is known as a fractional reserve banking system. Now under that system if a bank has a deposit made of lets say $10,000 they can then loan out $9,000 of the $10,000 they received in deposits. However they don't actually loan any of the original $10,000 out, they just make a bookkeeping entry in their computers to your account for $9,000 and then charge you interest on that loan. So now out of thin air they have they have upped the amount from $10,000 to $19,000. The Federal Reserve system is first a PRIVATE bank there is nothing federal about it. Second the fractional reserve system we operate on is 10%. In the above example you will note that with the total amount created being $9,000 they now with the original $10,000 only have to keep $1,900 in reserve. So basically from the original amount deposited of $10,000 they could theoretically "loan" out $100,000. Here is a link to a document from the federal reserve that will explain it better.

http:/www.rayservers.com/images/ModernMoneyMechanics.pdf

Yes we are going to provide transferable feature in our TDR

A Fixed Deposit involves locking a particular amount of money for a certain time period, say Rs 20000 for 1 year, at a much higher rate of interest than being given on amount in a savings account. The interest on Fixed Deposit varies with the state of economy, being much higher when inflation is high (so that people save more and spend less), sometimes being as high as 10% per annum , to as low as 6% per annum, when economy is going good and inflation is low.

To create a FD, you normally need to have a savings account with that bank. Since interest accrued on a FD is much much higher than that on a savings account, its wise to keep money parked in these instruments.

However one must be sure to balance their needs well so that they do not have to break an FD before maturity to meet their daily requirements. It means that if a FD is broken before its maturity, a penalty is applied, and hence the returns come out to be much lower comparatively. So make sure your needs are well taken care of, before you park the money in fixed deposits.

There are so many popular Banks like HDFC, Axis, ICICI and NBFCs like Bajaj Finserv which offers high interest rate on Fixed Deposit.

three or four days tops

An agency or separate corporation of a futures exchange responsible for settling trading accounts, clearing trades, collecting and maintaining margin monies, regulating delivery and reporting trading data. Clearing houses act as third parties to all futures and options contracts - as a buyer to every clearing member seller and a seller to every clearing member buyer.

The Recurring deposit account is an account in the bank (or a Post office in some countries) where an investor deposits a fixed amount of money every month for a fixed tenure (mostly ranging from one year to five years). This scheme is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after some years. The small monthly savings in the Recurring Deposit scheme enable the depositor to accumulate a handsome amount on maturity. Interest at term deposit rates is computable on quarterly compounded basis.

SWIFT MT599 is a free format, general SWIFT message

NovaNET Answer: protect people's savings accounts.

Fixed Deposit also called as term deposit in many countries works in a very simple manner as decided by Financial institutions. You have to deposit your money for a fixed tenure and you get a legitimate interest on that amount. Once the tenure is completed, you get your money after maturity. The final amount contains Principal amount Plus Interest Rate.

The banks loan out the money on deposit at higher rates of interest than they pay the depositors. Since most people keep their savings on deposit for long periods, the banks are able to do this. If everyone came at once and asked for their money, the bank would fail.