1
vote
1answer
71 views

In India, what is the difference between Current Account and a Savings Bank Account?

Considering that Current Accounts in India give you no interest, why would anyone keep a current account open? Why not just use a Savings Bank Account? ATleast they give you some daily interest on the ...
2
votes
1answer
423 views

Transfering money to personel saving account in India

I am currently residing in Qatar since 2 years. I am transferring my salary from Qatar to my personal Indian savings bank account. The amount I used to transfer is used for general expenses. Do I ...
0
votes
1answer
72 views

PPF Account in Indian banks

I'm an indian citizen and about to open a PPF Account in a Nationalised bank. I have had enquiry in ICICI Bank and in SBI Bank today. Their interest rates are as 8.8 and 8.7 respectively. Can one ...
1
vote
2answers
145 views

Do I need to pay tax on the amount of savings I have in the bank?

Do I need to pay tax for the amount which I have in the bank? If so, what's the tax percentage for a savings account and a current account?
1
vote
1answer
179 views

What is a “single side debit: QMC charges” in bank transactions?

My bank account is debited with description single side debit QMC charges. For what purpose the single side debit is charged. BANK NAME: CITY UNION BANK COUNTRY: INDIA
3
votes
1answer
327 views

How rate of interest scheme in bank works?

When I was looking at SBI site, I got this info: Loan Amount Rate of Interest* For loans upto Rs.4 lacs - 3.50% above Base Rate, currently 13.50% p.a. What does it mean? interest rate is ...
0
votes
1answer
143 views

Should I pay the student loan now classified as bad debts

I got educational loan on 2008 from one of a Bank in India. So far I am paying only interest money not principal money for it, but it’s also not regularly, I left some intermediate gap on it. Last ...
2
votes
3answers
2k views

How is interest in my bank account calculated?

I am a software professional. I have one question. How do banks calculate interest on money deposited, if I get, say, 10 % per annum? Say I deposit say RS.1000 on the 1st day of the month; then I ...
6
votes
3answers
674 views

How can a freelancer get a credit card? (India)

I work freelance for clients, in other countries, and paid via Paypal and other methods. When I applied for a credit card in my country, it was rejected. They mention as I don't get a salary and I ...
1
vote
3answers
533 views

Compounding frequency for Recurring Deposit account at ICICI Bank?

Does anyone know the frequency of compounding of a Recurring Deposit account at ICICI Bank? It isn't mentioned anywhere in their website and looks like they are conveniently hiding the fact.