Fixed Deposit interest rates

[superiorword]

Fixed deposits are a good way of increasing your money in a steady and safe manner, unlike mutual funds/stock market investments that are risky. I would like to hear what annual percentage do you get on fixed deposits. Also mention your bank name.


Here in India, we get an annual interest of 10.50% per annum(11% per annum for senior citizen) on fixed deposits. Most of the banks including government/private sector banks like SBI, HDFC Bank etc. offer this much interest. If you can invest a good amount like $100k or above, you can also negotiate with bank

[themike537]

Wow 10%, that's sick. Here in the USA CD's are usually 4-ish% at my local credit union.

[superiorword]

Only 4%!!! You gotta be kidding me! LOL

[Planet Mark]

Wow, sounds like a great deposit rate... assume that Indian inflation has come down from the 11% / 12% over the summer?

Cheers, Mark

[superiorword]

Wow, sounds like a great deposit rate... assume that Indian inflation has come down from the 11% / 12% over the summer?

Hmm, right. What about the interest rates offered by the banks in UK?

[Planet Mark]

Erm, not really the point is it ;o)

I'm not trying to knock your countries (or any countries) rates of interest at all. Just a small point that however 'high' the headline seems, if your rate of inflation is higher than this then your return is actually negative... economics at its most basic.

Of course anyone investing in foreign currency would need to account forex fluctations also - for example the Rupee has lost 20% against the US Dollar this year...

Cheers and GL with all those investments

Mark

[superiorword]

Rupee is at it's weakest right now! Few months back it was 39 Indian rupees per US Dollar and right now it's touching 50 Indian rupees per USD! So that is the plus point for me because I receive payments from almost all my clients in US$


But on the other hand, all my mutual fund investments are showing "super negative" returns right now...and I'm thinking why did I invested in these funds in spite of such high returns on FD. Well, I think it's right time to buy some stocks now, for future returns

[Planet Mark]

Yeah, not so bad being paid in USD for me too at the moment... I earn in USD, save in EUR (and GBP) and spend in Hungarian Forints... can be complicated!! Best of luck with all of those investments!

PS: just make sure you have the strong / weak the right way around when it comes to currencies... might be important some day ;o)

[superiorword]

LOL, edited! Just wrote the wrong way around in the first line :P