Search results
Results from the WOW.Com Content Network
In finance, a Zero Balance Account (ZBA) is a system of cash pooling (to consolidate the cash balances of several subsidiaries of a single company). This system is designed to leave in the current accounts of the subsidiaries the minimum amounts to be able to deal with their debts contracted.
Pradhan Mantri Jan Dhan Yojana (transl. Prime Minister's Public Finance Scheme) is a financial inclusion program of the Government of India open to Indian citizens (minors of age 10 and older can also open an account with a guardian to manage it), that aims to expand affordable access to financial services such as bank accounts, remittances, credit, insurance and pensions.
Interest rates on high-yield savings accounts are variable rates, meaning they could fall from what you originally signed up with. ... Consider interest rates, fees, minimum balance requirements ...
Tax deducted at source (TDS) applies to recurring deposits in India. If the interest earned on recurring deposits exceeds Rs. 40,000 a year, TDS would be deducted by the bank at the rate of 10%. Income tax is to be paid on interest earned from a Recurring Deposit at the rate of tax slab of the Recurring Deposit holder. Investors without taxable ...
The interest rates on some online savings accounts can compare with those on money market accounts, and they are currently hovering around 2 percent. But the most competitive money markets include ...
CIT Bank’s Platinum Savings account offers a lucrative APY of 4.35%, but this rate requires a daily balance of $5,000 or more. This shouldn't be a problem if you have a large savings balance you ...
It is now usually given free of cost. For some time, the rate of interest on the balance in the savings account in Indian banks was regulated by the Reserve Bank of India. However, the bank can now keep any rate of interest they deem fit. Banks have to follow the RBI's know your customer guidelines to allow an individual to open a savings ...
Saving accounts earn you interest on your balance — anywhere from a modest 1% APY with a traditional account to a lucrative 5% APY and higher for high-yield accounts — compounding what you ...