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Rosemarie Chavez

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  1. 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!

  2. 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 rates of a fixed deposit in Philippines. But since your question is asking about foreign rates, then I think I can provide you with a few banks’ rates in Nigeria.

    Access Bank which is one of the leading financial institutions in Nigeria provides an interest rate of 11.6% for every month of fixed deposit.

    Citi Bank of Nigeria is at 6.6% while Diamond Bank is at 6.8%. These are the three highers interest rates of fixed deposits provided by different banks in Nigeria.

  3. 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 rates of a fixed deposit in Philippines. But since your question is asking about foreign rates, then I think I can provide you with a few banks’ rates in Nigeria.

    Access Bank which is one of the leading financial institutions in Nigeria provides an interest rate of 11.6% for every month of fixed deposit.

    Citi Bank of Nigeria is at 6.6% while Diamond Bank is at 6.8%. These are the three highers interest rates in fixed deposits provided by different banks in Nigeria.

  4. 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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