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Rosemarie Chavez

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Corazon HensonAdapala Koteshwar RaoSireRumu Rumu Recent answer authors
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SireRumu Rumu
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Masud Rumu
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By stating time deposit, am assuming you’re referring to a fixed deposit. If that’s the case, then I believe every bank has it’s rates when it comes to fixed deposits. A fixed deposit is a financial instrument provided by most banks to customers or investors on a higher rate of interest than a regular savings account, until the given maturity date. This means that fixed deposit asides from saving a certain amount, it also yields interest overtime which is available by the end of the agreed date between the bank and other party. I absolutely have no idea the interest… Read more »

SireRumu Rumu
Noble Member
Masud Rumu
Offline

By stating time deposit, am assuming you’re referring to a fixed deposit. If that’s the case, then I believe every bank has it’s rates when it comes to fixed deposits. A fixed deposit is a financial instrument provided by most banks to customers or investors on a higher rate of interest than a regular savings account, until the given maturity date. This means that fixed deposit asides from saving a certain amount, it also yields interest overtime which is available by the end of the agreed date between the bank and other party. I absolutely have no idea the interest… Read more »

Adapala Koteshwar Rao
Noble Member

Unfortunately in India we are going to get maximum 8% per year as an interest for a term deposit of one year so your one million , that is our 10 lakhs will get you just 80,000/- rupees per year whic is too less!

In fact we used to have a time when banks and post offies used to pay as much as 18% per year for fixed deposits, which is not possible any more today!

Corazon Henson
Noble Member

In our country the banks pay so little interest of 1% and about 1.5% for a bigger amount. It is better to buy real estate than keep the money in the bank.

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