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Bank Deposits

Simple Interest

In the world of finance, one of the fundamental concepts is simple interest. It involves multiplying the interest rate by the principal amount and the number of periods. Unlike compound interest, it does not take into account the effect of compounding. This makes it more suitable for calculating interest on short term deposits. Understanding the nuances of simple interest is crucial in mastering financial calculations.

NRO

A common term in the realm of finance, NRO stands for Non-Resident Ordinary account. This account is specifically designed for Non-resident Indians, allowing them to save or...

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Lender

Lending is the act of providing monetary funds to another individual or organization for a predetermined period of time. This exchange involves the borrower returning the bo...

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Annual Yield

The effective annual rate of return considers the impact of compounding interest. Its significance lies in its ability to convert diverse interest rates into a comparable an...

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Co-operative banks

In today's financial landscape, we often hear about banks operating under a co-operative model of ownership. This refers to a structure where a group of individuals come toge...

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