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Maintenance and Welfare of Parents and Senior Citizens Act, 2007 is a legislation, initiated by Ministry of Social Justice and Empowerment, Government of India [1] to provide more effective provision for maintenance and welfare of parents and senior citizens. It makes it a legal obligation for children and heirs to provide maintenance to senior ...
The rate of penalty will be fixed upfront. Interest is compounded on a quarterly basis in recurring deposits. One can avail of loans against the collateral of a recurring deposit up to 80 to 90% of the deposit value. [2] The rate of interest offered is similar to that of a regular fixed deposits. [2]
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.
You can earn 4.55% APY on balances of $5,000 or more, and CIT Platinum Savings charges no monthly maintenance fee — which means you get to keep all the interest you earn without ongoing fees ...
A Flexi-Fixed deposit is a special kind of deposit offered by banks in India. It is a combination of a demand deposit and a fixed deposit . The depositor is able to enjoy both the liquidity of savings and current accounts and the high returns of fixed deposits.
At the conclusion of its seventh and penultimate rate-setting policy meeting of 2024 on November 7, 2024, the Federal Reserve announced it was lowering the federal funds target interest rate by 25 ...
The government of India provides various concessions and facilities to its senior citizens. [2] The Union Cabinet's latest decision to approve a new law - Maintenance and Welfare of Parents and Senior Citizens Act, 2007, aimed at serving the elderly live in self-respect and peace. The Bill to be introduced in Parliament this monsoon session ...
The Federal Reserve announced another cut to its benchmark interest rates yesterday, dropping the Fed rate by 25 basis points to a range of 4.25% to 4.50% — the third consecutive time it's ...
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