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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.
On 4 April 2022, HDFC Ltd announced that it would merge with HDFC Bank, marking India's largest-ever M&A deal. [23] [24] As part of the merger, HDFC Ltd would transfer its home loan portfolio to HDFC Bank, while the bank offered depositors of HDFC Ltd the choice of either withdrawing their money or renewing their deposits with the bank at the interest rate that the bank was then offering.
Non-recurring engineering (NRE) cost refers to the one-time cost to research, design, develop and test a new product or product enhancement. [1] When budgeting for a new product, NRE must be considered to analyze if a new product will be profitable .
Bank Prime Loan Rate, Federal Reserve Bank of St. Louis. Accessed December 30, 2024. Military Lending Act [PDF], Federal Reserve. Accessed December 30, 2024.
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.
The rates on home equity lines of credit (HELOCs) and home equity loans remain unattractively high, even as mortgage rates nosedived in late 2023. The average rate on a HELOC was 10.12 percent as ...
HDFC held 26.14% of shares in HDFC Bank. HDFC Bank sources home loans for HDFC for a fee. [22] The key business areas of HDFC Bank were wholesale and retail banking and treasury operations. As of April 2023, its market capitalisation was ₹ 941,386 crore (US$110 billion), making it India's third largest publicly traded company. [23]
A 2012 study, by Reserve Bank of India revealed 30.8% of total foreign remittances was from West Asia, compared to 29.4% from North America and 19.5% from Europe. [14] However, owing to the onslaught of COVID-19, the World Bank has estimated a 9% decline in the remittances to India. [18]