Question
Which of the following private sector bank has launched
two new products – loan against deposits and dollar bonds – for non-resident Indians at its GIFT City branch in Gujarat?Solution
Private sector lender ICICI Bank has launched two new products – loan against deposits and dollar bonds – for non-resident Indians at its GIFT City branch in Gujarat and is the the first to offer these products in GIFT City. The loan against deposits facility is similar to a loan in foreign currency against a deposit in India and includes non-resident external fixed deposits in rupees. Clients may avail of the facility for short-term cash requirements without premature closure of term deposits which entails penalties. Up to 95 per cent of the deposit value can be availed of using this loan and customers can borrow for flexible tenures at fixed or floating interest rates.
A person invests Rs. ‘a’ in SIP A and Rs. ‘b’ in SIP B. SIP A offers simple interest at 15% per annum, while SIP B offers compound interest at 2...
The difference between the compound interest, compounded annually and simple interest on Rs. ‘P’ at the rate of 25% p.a. for 2 years, is Rs. 150. If...
A man invested Rs. 's' in scheme 'G' offering simple interest at 8% for 5 years and Rs. 2,200 in scheme 'H' offering simple interest at 9% for 4 years. ...
A sum of money invested at 18% per annum simple interest for 3 years earns Rs. 540 more interest than it does when invested at 15% per annum compound in...
Pawan distributed his investment as follows: 25% of the total at an annual interest rate of 6%, 1/5th of the total at 8% per year...
Rs. 16000 invested for 2 years in a scheme offering compound interest (compounded annually) of 15% p.a. gives an interest that is Rs. 25 less than the i...
- Sohan invested Rs. 11,600 at a simple interest rate of 7.5% per annum for 3.5 years. What will be the total amount he receives after the period?
Arjun deposited Rs. ‘Z’ in a bank offering compound interest of 8% p.a. compounded annually. After 4 years, he invested the amount received from the...
- If the difference between compound interest and simple interest at 10% p.a is Rs 1 for two years then find the value of sum.
What will be the difference between the SI and CI @ 10%p.a on a sum of Rs. 9000 for 4 years?
