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CASA ratio stands for current and savings account ratio. CASA ratio of a bank is the ratio of deposits in current, and saving accounts to total deposits. A higher CASA ratio indicates a lower cost of funds, because banks do not usually give any interests on current account deposits and the interest on saving accounts is usually very low 3–4%. [1]
Savings accounts are very popular in India, and almost 80% of the population have one, with many having multiple savings accounts. [4] The reserve bank has also introduced Basic Savings Bank Deposit Account [ 5 ] which has certain limits, but allows customer to start a bank account with no minimum balance.
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.
“traditional savings accounts haven’t paid much interest in the past 20 years, so there has been no incentive to keep cash in savings other than as a safety net for the checking account,” he ...
Where the national average is 0.41% for a savings account at a traditional bank, yields at digital banks go up to 4.00% or more for high-yield savings and money market accounts.
Traditional savings accounts often have lower interest rates, while high-yield savings accounts (HYSAs) — offered by many digital and online-only banks — can pay 10 to 20 times more. These ...
State Bank of India logo was designed by NID in 1971. The SBI logo was designed by the National Institute of Design, Ahmedabad in 1971. [74] The logo was designed by Shekhar Kamat and the logotype in 14 Indian languages was designed by Mahendra Patel. [75] [76] State Bank of India and all its associate banks used the same blue keyhole logo. [77]
The right choice between a high-yield savings account and a money market account depends on your need for higher interest rates and digital simplicity versus flexible access with check-writing and ...
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