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Ways in which fixed deposits charges may help you survive a market crash As in most nations of the world, Indian Banks are at all times in competition with other banks to get a bigger chunk of the market share and maximize profits. All of them offer the whole range of services to its customers. These include Banking Accounts, Credit score Card Services, Debit Card Providers, Loans, Internet Banking amongst many more. Also included are Fixed Deposits. A Fixed Deposit rate is the rate of interes provided by the Bank on a sum depending on the period of time that it is deposited with them. Senior Residents please note that the Bank are required to give you a special rate, which is a percent more than it presents its other customers.All Banks working in India are mandated to pay interest on the sum deposited with them for the fixed time period. Usually, the longer the period of deposit, the higher the interes rate. This makes for varied Fixed Deposit Rates. Deposit holders can withdraw the whole sum post the date of maturity of the deposit - together with the interest which the Bank Pays. This cash is used for a varietyof functions by the Bank through the term of deposit...more
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