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Bank Deposits

Simple Interest

In the world of finance, one of the fundamental concepts is simple interest. It involves multiplying the interest rate by the principal amount and the number of periods. Unlike compound interest, it does not take into account the effect of compounding. This makes it more suitable for calculating interest on short term deposits. Understanding the nuances of simple interest is crucial in mastering financial calculations.

Recurring Deposit or Cumulative Deposit Account

A bank account that requires a depositor to deposit a fixed amount (in multiples of Rs 5 or Rs 10) every month is known as a recurring deposit account. This deposit is typic...

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Borrower

A borrower, whether an individual or a company, is someone who obtains money from a lender for a specific purpose. The borrowed funds are utilized for a set period of time, ...

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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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Bank fixed deposits

Bank fixed deposits, also known as bank term deposits, refer to the funds collected by banks from investors for a predetermined period. This serves as a primary source of ra...

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