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Bank Deposits

FCNR

A FCNR deposit, or Foreign Currency Non-Repatriable account deposit, is a type of Fixed Deposit Foreign Currency account strictly for depositing, not for saving. It allows for deposits in major currencies such as US Dollars, UK Pounds, Canadian Dollars, Deutsche Marks, Japanese Yen, and Euros. Unlike a savings account, this type of deposit offers the potential to earn higher interest rates.

Receipt

A vital document demonstrating an investor's deposit to a bank, known as a certificate of deposit. It provides essential information such as the deposited amount, interest p...

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Savings bank account

's deposits Let's discuss a financial term that may seem commonplace but holds significant importance in the world of banking and finance - the savings account. This type of ...

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Annual Yield

The effective annual rate of return considers the impact of compounding interest. Its significance lies in its ability to convert diverse interest rates into a comparable an...

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Tax Deducted at Source

In the world of finance, there is a form of payment known as tax withholding. This method involves deducting the applicable tax rate from the total amount of interest or pay...

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