TOP 5 SENIOR CITIZEN FIXED DEPOSIT ( Tenure 3 and 5 years )

Top 5 Senior Citizen Fixed Deposit

Time for some numb3r Crunching !!

Tenure : 3 year ( Interest Rates Compounded Quarterly )
P=10,000  n=12  t=3  r= as mentioned below

Bank Name                    Interest Rate(r)         Rs 10,000 will yield to
City Union Bank                     10.00                         13,449
Development Credit Bank    9.80                          13,370
IDBI Bank                                    9.75                          13,351
Ing Vyasa Bank                          9.75                          13,351                                           Karur Vyasa Bank                     9.75                          13,351

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TOP 5 SENIOR CITIZEN FIXED DEPOSIT ( Tenure 1 and 2 years )

Top 5 Senior Citizen Fixed Deposit

Time for some numb3r Crunching !!

Tenure : 1 year ( Interest Rates Compounded Quarterly )
P=10,000  n=4  t=1  r= as mentioned below

Bank Name                    Interest Rate(r)            Rs 10,000 will yield to
Corporation Bank                    9.50                             10,984
Yes Bank                                      9.50                             10,984
Indian Bank                                9.50                            10,984
Kotak Mahindra Bank            9.50                            10,984
Canara Bank                               9.25                             10,958

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Why GOLD prices are decreasing constantly. ( PART 3)

I hope you have read the previous two articles and have some sort of understanding as to how GOLD matters in a Nation’s Economy. Now comes the interesting part follow Global News and apply common sense !! This article will sum up everything 🙂

Some of the news which you should be aware of with regards to GOLD :
1: Germany’s Central bank ( BUNDESBANK ) has requested its GOLD RESERVES be brought back to its country. GOLD RESERVES of about 1500 tonnes will be brought back to Germany from US in 5 years at around 300 tonnes per year.
2: Cyprus wants to sell its GOLD RESERVES of about 400 million EUROS 10.36 tonnes of GOLD RESERVES ) to finance part of its bailout due to recent economic slump. Continue reading

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Why GOLD prices are decreasing constantly. ( PART 2)

I hope you all have read the previous article and have some understanding as to why GOLD matters to a Nation’s Economy. Let us now have a look at Top 10 Nations in the World with highest official GOLD RESERVES and then play around with numb3rs and analyze what exactly is happening behind GOLD losing its value day by day 🙂

Top 10 Nations with highest official GOLD RESERVES according to the report by the WORLD GOLD COUNCIL as of January 2013 Continue reading

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Why GOLD prices are decreasing constantly. ( PART 1)

It is very important to understand why actually GOLD matters in a NATIONS ECONOMY and what GOLD RESERVES are and how it affects value of a NATIONS currency in International trade.

GOLD RESERVE ( refer Wikipedia for more details ) : basically means GOLD held by the central bank ( in INDIA it is Reserve Bank of India : RBI ) intended as a store of value and as a guarantee to redeem promises to pay depositors, note holders ( paper money ) or trading peers or to secure a currency.

In short : Every country has been following a tradition of reserving certain amount of GOLD in order to print Currency Notes ( A Nation cannot simply print currency notes just because it has paper and printer 😛 if it does Liquidity in the market increases and value of the Currency falls down and the ultimate effect you all can guess) Continue reading

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Fixed Deposit ( Tenure 3 and 5 years )

Top 5 Fixed Deposit

Tenure : 3 years ( Interest Rates Compounded Quarterly )
P=10,000  n=12  t=3 r=as mentioned below

Bank Name                         Interest Rate(r)   Rs 10,000 will yield to
Tamilnad Mercentile Bank    9.50                     13,253
Development Credit Bank      9.30                     13,176
City Union Bank                          9.25                     13,157
Ing Vyasa Bank                            9.25                     13,157
Karur Vyasa Bank                       9.25                    13,157

Tenure : 5 years ( Interest Rates Compounded Quarterly )
P=10,000  n=20  t=5 r=as mentioned below

Bank Name                            Interest Rate(r)  Rs 10,000 will yield to
Tamilnad Mercentile Bank  9.50                         15,991
City Union Bank                       9.25                         15,979
Canara Bank                               9.05                         15,643
Andhra Bank                              9.00                         15,605
Bank of India                              9.00                         15,605

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Fixed Deposit ( Tenure 1 and 2 Years)

Topic : Fixed Deposit ( Tenure 1 and 2 years )
Time for some numb3r Crunching !!

Top 5 Fixed Deposit

Tenure : 1 year ( Interest Rates Compunded Quarterly )
P=10,000  n=4  t=1  r= as mentioned below

Bank Name                    Interest Rate(r)            Rs 10,000 will yield to
Corporation Bank                   9.00                             10,931
Dhanlaxmi Bank                      9.00                             10,931
Indian Bank                                9.00                            10,931
Kotak Mahindra Bank            9.00                            10,931
Tamilnad Mercentile Bank   9.00                           10,931

Tenure : 2 years ( Interest Rates Compounded Quarterly )
P=10,000  n=8  t=2 r=as mentioned below

Bank Name                    Interest Rate(r)       Rs 10,000 will yield to
City Union Bank                        9.50                    12,066
Karur Vyasa Bank                     9.50                    12,066
Tamilnad Mercentile Bank    9.50                   12,066
Ing Vyasa Bank                           9.25                   12,007
Karnataka Bank                          9.25                   12,007

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