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Topic : How to get more out of Fixed deposits
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It's highly regretable thing to note that the interest rates on fixed deposits are drastically reduced by the banks

Created by : Prashanth Kantheti, Business Development, M/s. Vijai Electricals Ltd  | 10 15 2009 06:51:35 +0000
Industry : Banking
Keywords : fixed deposits interest rates norms bank interest rates
Activity:  491 views;  last activity : 07 06 2010 20:18:09 +0000
 
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The interest rates are reduced from 8.5% to 6.5% on fixed deposits. This is causing lot of agony to the retired people & public.

 
By Prashanth Kantheti, Business Development, M/s. Vijai Electricals Ltd  10 15 2009 06:51:35 +0000
 
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Yes it is a pain to the people who opted for VRS on the encouragement of the public sector.

Government should categorise and apply these rates in the similar fashion like the other sections of the society are taken care of by the government.
By Raghu Kastury, Principal Consultant & Head of Strategic Business Unit - Retail & Distribution, Sundaram Infotech Solutions Limited  | 10 19 2009 05:42:25 +0000
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The 2% reduction on fixed deposits by the banks is causing a lot of problems for old and retired population of our country. The banks depend on others, borrowing, loans, interest etc and engage in profit making.Many a times, banks earn money unethically. We, the common public have to be cautious of these things...
By Sonam Kapoor, Software Developer, IBM  | 10 16 2009 08:20:49 +0000
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Banks inherently do not generate money.  They take money from all, give loans, earn interest, subsidise interest on FDs, Engage in ludicrous strikes and mage 20 - 30% profit.

We have to be put up with them, Alternate is P.O, Bonds, liquid schemes.  Its all economics, but the bank is essentially unethical in its business practise.  Its up to customes like us to be cautious.
By Raguraman Bashyam, Principal Architect, Tech Mahindra  | 10 15 2009 07:07:34 +0000
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Why do we look for subsidy in everything ? If you want higher returns, opt for riskier instruments giving higher returns. Take some exposure to equity.There are certain structured products which offer decent protection against normal downsides.
By Vivek Bimbrahw, SBU/Profit Center Head, ICICI SECURITIES LTD  | 10 27 2009 06:56:54 +0000
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Bank cannot borrow on high rates and land at lower rates !!!! What ever deposits the banks get in terms of FD's/ deposits, etc is used to lend at slightly higher rates thereby taking care of operational costs, provision for bad debts and make profits for the shareholders !!!

If the lending rates are coming down, the FD rates will naturally come down.
By Vivek Bimbrahw, SBU/Profit Center Head, ICICI SECURITIES LTD  | 10 27 2009 06:53:12 +0000
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