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A Flexi-Fixed deposit is a special kind of deposit offered by banks in India. It is a combination of a demand deposit and a fixed deposit . The depositor is able to enjoy both the liquidity of savings and current accounts and the high returns of fixed deposits.
A fixed deposit (FD) is a tenured deposit account provided by banks or non-bank financial institutions which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account. The term fixed deposit is most commonly used in India and the ...
Axis Bank Limited, formerly known as UTI Bank (1993–2007), is an Indian multinational banking and financial services company headquartered in Mumbai, Maharashtra. [8] It is India's third largest private sector bank by assets and fourth largest by market capitalisation.
Due to their fixed terms and low deposit requirements, CDs can offer significantly higher interest rates when compared to traditional savings and checking accounts — up to 10 times more than the ...
If the interest earned on recurring deposits exceeds Rs. 40,000 a year, TDS would be deducted by the bank at the rate of 10%. Income tax is to be paid on interest earned from a Recurring Deposit at the rate of tax slab of the Recurring Deposit holder. Investors without taxable income must submit a Form 15G to avoid TDS on recurring and fixed ...
In November 2018, Axos Bank acquired approximately $3 billion in deposits and 40,000 customers from Nationwide Bank. [24] The two companies have an agreement to market to each other's customers. [25] In March 2019, Axos acquired $175 million in deposits from MWABank. [26] In August 2023, the bank acquired the marine finance business of Bank of ...
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