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What You Need To Know About Business Savings Account And Interest Rates

by Steve Patterson on Oct 4, 2011

If you want to have a capital expansion or a new business, you may also consider applying for a business savings account. Funds that you have in your business checking account usually earn very small interest. However, applying for business savings account might be able to help you to make the most of high interest rates. Selecting a good business savings account generally entails comparing the accounts based on the interest rates, minimum balances, and fees. In addition, don’t forget to see if they have an online banking system so that you can access your funds without any difficulty.

One of the most important thing to consider in comparing business savings account is their interest rates. Some banks offer high interest rates than other banks. If you would like to see your savings increase, you will need to select the account that has the highest rate possible and be cautious for teaser rates; a few banks might give higher rates in order to get a hold of your...Read More >>



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Short-term Fixed Deposits can give higher interest rate compared to savings account

by Vicky

If you think a 6% interest on a savings account is a big pact, imagine a return of 7-8%, even 8.5%. What banks are offering right now on short-term fixed deposits of up to 15-30 days (see table). These are no small, obscure banks trying to attract low-cost deposits. The country's largest commercial bank, the SBI, is also in the dispute.

Short-term Fixed Deposits offer higher interest rates
Banks
Interest Rates (%)
Premature withdrawal penality
Corporation Bank 8.50 1% less
UCO Bank 8.00 1% less
State Bank of Hyderabad 7.00 1% less
...

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