Monday, 5 December 2011

High Income short-term deposit with high liquidity

Banks now offer a very lavish interest rate for savings account & short-term deposit with high flexibility and high liquidity. Today I have noticed a few advertisements from two leading banks which offer a flexible term deposit with high interest rate. Those deposit schemes listed below: And I am looking for more such safe short-term high return term deposit which will add here later.

KVB Flexi Term deposit

Kayur Vysya Bank Flexi Term deposit is a good high return short-term flexible deposit. The interest rate offered by the bank is 9% per annum. If you withdraw money (the deposit amount) any time after 15 days of opening this term deposit, there is no penal interest or penalty. You will get an interest rate of 9% per annum. You can withdraw earlier also with 1% penal interest from 7th day to 14th day of deposit. For the withdrawal before 7th day will not get any interest. The real tenure of the deposit is 300 days. But the least amount for this short-term flexi term deposit is Rs. 15 lakh and multiples of Rs. 10000 afterwards.

SBI unfixed deposit 

State bank of India also come with a short-term high liquidity deposit with 8.5% interest per annum. You can withdraw money any day form 7th day of deposit without any penalty. You will get an interest of 8.5% per annum. If you withdraw money before 7 days there is no any interest payable. But the least amount of deposit is Rs. 1 crore.

These bank deposits are suitable for those who earmarked money for any special short-term needs and can withdraw money when you need it  and at the same time you can avail a good rate of interest. For individuals, companies, Institutions, firms, trusts, associations, societies etc., this is a good investment scheme.

High Income short-term deposit with high liquidity

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  1. Prakash Nandha Mukunthan19 December 2011 at 07:29

    it is intriguing, why banks suddenly go for this kind of deposits?

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