Payment of Interest on Savings Bank Account on a Daily Product Basis

Well, the party is (almost) over for banks in India. Seriously, with the kind of interest calculation method being currently used for saving account holders it indeed is a party for the bank to enjoy such an enormous amount of free float at the cost of the janta. Hopefully if the banks don’t make some [...]

Author: Austin Comments: 2 comments Date: 20 Feb 2010 More: Read more
Categories: Banks Tags: , ,

Power of compounding

photo by orangeacid Investment experts keep advising us to “invest for the long term,” mainly so that we may benefit from the power of compounding. Take an individual who decides to invest Rs. 50,000 for 20 years. Assume that he earns a constant return of 8% per year. In the first five years, the Rs. [...]

Author: Austin Comments: 2 comments Date: 22 Sep 2008 More: Read more
Categories: Saving Money Tags: , , , , ,