What is the interest rate on your bank saving?
By harshadod
@harshadod (858)
India
November 25, 2006 12:12pm CST
I get a measly rate of 4 percent, good for nothing. Also they calculate interest on the minimum amount in your account from 10 of the month to the 31st.
We need a better interest rate. Our borrowings have interest rate from 10 percent to 40 percent. Very unfair.
6 responses
@forex4aliving (644)
• Singapore
26 Nov 06
I don't put my savings in the bank. The interest rate from where I come from is even less than your 4%. I invest in forex and every week, based on daily interest collected, I get returns of about 40-120% on an annual basis. I'm not kidding because forex trading has this element of leverage. On a leverage of 1:400, for every $1000 you invest, you control and "own" that 400X more of currency and interest is paid on $400,000! I post my forex progress at www.forex4aliving.blogspot.com. If you are serious about growing your wealth, at least just check out my results here and decide for yourself.
@harshadod (858)
• India
27 Nov 06
It is very interesting. I will definitely give it a try. I will have to find whether such avenues are available for retail investor in India.
Thanks for the new information.
True solid response in Mylot.
1 person likes this
@forex4aliving (644)
• Singapore
9 Dec 06
Right now, the good thing about being a forex retail trader is that everything is done via the internet. I trade with US brokers and all done via internet. Just have to make sure you find a good broker and not someone that runs off with your money. :)
@carb0nex (32)
• United States
21 Dec 06
My country has 8% of interest rate. But i didn't put my money in bank. Just invest in Forex and have 10% until 20% increase per month.
It is good to be one of our online income.
@harshadod (858)
• India
21 Dec 06
It is great to know that u invest in forex. How long have u been on forex?
@indian_investor (365)
• India
9 Dec 06
stock market is best place in my view
here is some of the finacial calculators to help you calculate:
Compound Interest
Present Value
Rate of Return
Annuity
Bond Yield
Mortgage
Retirement.
www.stockmarketwisdom.blogspot.com
@clickerz (471)
• Philippines
22 Dec 06
Just put your money in Mutual Funds,UTIF,stocks etc. but not on the bank.Bank only has 3-4 % and you cant consider it as an investment since inflation is more than that.
