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A Flexi-Fixed deposit has two features that effectively combine the benefits of savings and current accounts and fixed deposits: The "Auto-sweep feature (sweep-in)": The balance in excess of a stipulated amount is automatically transferred to a fixed deposit (FD) account for a default term of one year.
A fixed deposit (FD) is a tenured deposit account provided by banks or non-bank financial institutions which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account. The term fixed deposit is most commonly used in India and the ...
A recurring deposit is a special kind of term deposit in India that is offered by Indian banks and India Post, which helps people with regular incomes to deposit a fixed amount every month into their recurring deposit account and earn interest at the rate applicable to fixed deposits. [1] [2]
A certificate of deposit (CD) is a time deposit sold by banks, thrift institutions, and credit unions in the United States. CDs typically differ from savings accounts because the CD has a specific, fixed term before money can be withdrawn without penalty and generally higher interest rates.
It offers a variety of financial products and services, including mutual funds, insurance, fixed deposits, NPS and SIPs. [3] The investments tracked and managed on the app is US$3 billion (₹ 22,500 crore) as of March 2022. [1] In June 2024, was acquired by 360 One Wealth and Asset Management for 366 crores ($44 Million). [4]
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E-payments have been heavily promoted in India showing consumers the various ways they can make these payments Including ATMs, the Internet, mobile phones and drop boxes. Due to RBI efforts and the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS), now over 75% of all transaction volume is electronic, including both ...
The functions of the subsidiary are governed by the provisions of The Deposit Insurance and Credit Guarantee Corporation Act, 1961 (DICGC Act) and The Deposit Insurance and Credit Guarantee Corporation General Regulations, 1961 framed by the Reserve Bank of India in exercise of the powers conferred by sub-section (3) of Section 50 of the Act.