Banks can attract good number of customers to them, the only reason being the lucrative fixed deposit rates that are floating in the range of 7% to 12%. This is known to be a very good figure if we compare to the times when it used to just half of it. You can withdraw or close the account even after 7 days and this could go up to 10 years as well.
The account can be opened with a minimum of thousand Indian rupees and one has the option open the fixed deposit account and avail all the benefits of this account. All public and private sector banks, like SBI, ICICI Bank, Andhra Bank, HDFC Bank offer fixed deposits schemes. Fixed deposit rates have been on an increase over the years and have attracted good number of people towards it. Despite private companies also coming out with fixed deposit schemes called corporate fixed deposits, still bank fixed deposits are more popular than corporate fixed deposits.
Summary: Higher Fixed deposit rates have the tendency to attract good number of people largely due to higher interest rates.
The account can be opened with a minimum of thousand Indian rupees and one has the option open the fixed deposit account and avail all the benefits of this account. All public and private sector banks, like SBI, ICICI Bank, Andhra Bank, HDFC Bank offer fixed deposits schemes. Fixed deposit rates have been on an increase over the years and have attracted good number of people towards it. Despite private companies also coming out with fixed deposit schemes called corporate fixed deposits, still bank fixed deposits are more popular than corporate fixed deposits.
Summary: Higher Fixed deposit rates have the tendency to attract good number of people largely due to higher interest rates.
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