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This is the rate at which the bank pays customers for depositing money with them. For ex: if ICICI bank tells me that they will offer me a 8% deposit rate for 1 year deposits, it means that if I deposit Rs. 10,000/- for 1 year, the bank will give me Rs. 800/- as interest at the end of the year.
It is also called as deposit interest rate. The rate varies from bank to bank and also based on your deposit duration.
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What is the definition of a term deposit rate?
The definition of term deposit rate is a deposit held in a financial institute at a fixed rate. Such as a cd that banks offer or bonds.
What is the term deposit rate of interest for effective date?
It depends on the number of days you are willing to deposit your money. The average rate in India for a 1 year deposit is around 8% per annum.
Which bank has the best certificate of deposit?
GE Capital Retail Bank has the best certificate of deposit. The APY rate is only 1.050% and the rate is 1.040% and is compounded daily. The minimum deposit is $25,000.00.
Can a bank in India change the rate of interest during the currency of a term deposit with them?
No. The rate of interest on a term deposit (Fixed Deposit) cannot be changed during the duration of the deposit. For Ex: you deposit Rs. 10000/- on Jan 1st 2011 with a bank in India at 8% rate of interest for a period of 1 year. Even if the deposit rates change to let's say 7.5% a few weeks after that, the bank has to honor the commitment it has given to you at the time of opening the term deposit and it cannot change the rate of interest.
How do you calculate how much interest rate should be given for 6 month saving deposit?
I calculate the interest rate should be given for 4 month saving deposit
What is the definition of a term deposit rate?
The definition of term deposit rate is a deposit held in a financial institute at a fixed rate. Such as a cd that banks offer or bonds.
Interest rate on recurring deposit in Indian overseas bank?
interest rate of recurring deposit in iob
What is the Difference between saving bank rate and Deposit rate?
deposit rate interest rate paid by the depository institution on the cash on deposit where as saving bank rate is interest paid by the banking institution on saving account holder which is calculated on daily basis and credited to customer account quaterly or semi annually.
What is the term deposit rate of interest for effective date?
It depends on the number of days you are willing to deposit your money. The average rate in India for a 1 year deposit is around 8% per annum.
Which bank has the best certificate of deposit?
GE Capital Retail Bank has the best certificate of deposit. The APY rate is only 1.050% and the rate is 1.040% and is compounded daily. The minimum deposit is $25,000.00.
Can a bank in India change the rate of interest during the currency of a term deposit with them?
No. The rate of interest on a term deposit (Fixed Deposit) cannot be changed during the duration of the deposit. For Ex: you deposit Rs. 10000/- on Jan 1st 2011 with a bank in India at 8% rate of interest for a period of 1 year. Even if the deposit rates change to let's say 7.5% a few weeks after that, the bank has to honor the commitment it has given to you at the time of opening the term deposit and it cannot change the rate of interest.
What rate does a five year certificate of deposit pay?
Today, the average 5 year certificate of deposit carries a rate of 2.85%. This number comes from the overnight CD rate list on bankrate.com.
Does CD Rate stand for Certificate of Deposit Rate?
Yes it does. It is the interest rate assigned to a certificate of deposit at the time it is purchased. They generally offer a fixed rate of return for a specified period, which then nominally increases with the amount or the term of the investment.
How do you calculate how much interest rate should be given for 6 month saving deposit?
I calculate the interest rate should be given for 4 month saving deposit
What is a certificate of deposit interest rate?
A certificate of deposit interest rate or CD is a time deposit, a financial product commonly sold in the United States by banks, thrift institutions and credit unions. CDs are similar to savings accounts.
Where can someone find more information about a time deposit?
In the banking world, the term Time Deposit refers to a savings account or certificate of deposit that pays a fixed interest rate for a given period of time. In the United States, a time deposit is commonly referred to as a certificate of deposit, as a term deposit in Canada, Australia and New Zealand, a bond in England and a fixed deposit in India. One can find terms and interest rates at their local bank, or on internet comparison sites such as Bank Rate or Rate Brain.
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.
