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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.

Bank

Banks, as financial institutions, play a crucial role in the economy by accepting deposits from the public and providing loans and advances to individuals and businesses in ...

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Deposit time slabs

A term deposit is an investment option offered by banks for a specified period of time. This period can range from as short as 14 days to as long as 5 years. As a depositor,...

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Non-Resident Accounts

Welcome to today's lesson on non-resident bank accounts. These are accounts held by Indian nationals and Persons of Indian Origin residing abroad, foreign nationals, and for...

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Tax-saving fixed deposits

Allow me to introduce you to a unique type of fixed deposit that offers a valuable tax break to investors. This deposit allows individuals to invest a certain amount of money...

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