The International Bank Of Azerbaijan offers a CD for 10 years with a deposit in $US dollars or local currency at 25% if you take it at the end of term.You can see all the various deposit options by going to the Deposits section of the banks website.

Pl. contact me my mail ID murthy1959@yahoo.com our bank giving 20 p.c. p/a and gold coin offer announced & gifr also provided mohana

maximum interest on deposit,pleasehelp

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Given the following variables: principal: $5000 interest rate: 16% per annum length of loan: 1 year the monthly repayments from the compound interest formula fv=pv(1+i)^n (fv = final value, pv = principal, i = interest, n = number of periods) is $483.30 per month. however when i use the bank's calculator: http://www.commbank.com.au/tools/pl _calculators/aspcalculator/repaymen ts.asp it says the loan repayment would be $453.65. also, when i put the monthly repayments of $483.33 in microsoft excel's rate() function as follows: =rate(12,-g6,b6)*12 i get an interest rate of 28% can someone please explain how the bank differs from the standard formula and how to calculate an interest rate like a bank would? my apologies, with the excel formula i left it as cell references. it should read: =rate(12,-483.33,5000)*12 thank you tom. i have found the correct excel formula based on your help: =pmt(0.16/12,12,5000) does this also apply to when the bank pays interest, for example in a term deposit?

simply because the banks are shifty. they claim 16% per Annam however it is calculated in daily basis. fairly basis is simple division of the annual rate by number of days per year however when you want to calculate the actual annual rate you must use compound multiplication which will be larger than 16% when you calculated correctly. with banks you never win.

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I would like to open a roth ira. do the interest rates or rates of return differ between vanguard, fidelity, my personal bank, etc. just as the interest on a savings account a different banks would differ? if so, do these rates fluctuate daily? does anyone know whose rates are consistently higher? can i have more than one roth? can i have a roth and a traditional ira?

Your rate of return will depend more on what funds you decide to invest in rather than what company you decide to invest with . Most mutual funds have different investment objectives to match individual investor's unique goals. How you allocate your funds between asset classes (stocks, bonds, cash, etc.) will determine your potential return. Also, your investment time horizon (how long before you use the money) will also factor into your potential rate of return. You can have as many Roth IRAs as you want but you cannot contribute more than the maximum $4,000 a year collectively. You can also have a traditional IRA and a Roth but you still are limited to the $4,000 maximum combined. For example, you could contribute $2,000 to each IRA but not $4,000 to each.

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Whether the bank home loan interest rates are same all over inda ? or it differs from state to state ?

Benchmark rate fixed by RBI remains the same throughout the country. Now loan interest rates vary from bank to bank in all regions. So for example ICICIs rates in Delhi may be different from SBI's rate in Delhi. WIthin banks also the interest rate may vary by the region but that variance in not that big. Plus the loan officer also has the power to reduce the interest rate by 25 or maximum 50 basis points, depending on the client profile. PowerMyLoan.com

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I am planning to apply for loan from bank. if i apply form different states i will get any good interest rate?? thank you very much and happy new year 2007

No, the rates will not be different. Even if they are, the difference won't make a difference...pun intended. Almost all the rates are based on prime and that is a federal thing which is the exact same for all the states. On top of that, it is law (because these credit companies spend a looooooooottttttt of money lobbying the Congress) that a credit company for example, can charge a maximum of whatever the state allows. BUT, the the state considered is the state where the company is based, where they have their headquarters AND even though a customer in California is using their credit card and they are based in Nebraska, the California Resident Local can be charged the Nebraska maximmum. So yes, states with higher population, obviously, have lower interest rate ceilings BUT states which are desperate for sources of revenue and jobs for their own people invite these companies and tell them that if they come here they can charge whatever they want. Haven't you ever noticed that all your credit card bills and things have their weird mailing addresses that are like 2000 miles away in cities and states no one has even heard of, especially the midwest states. This is the reason. Since companies don't relocate their headquarters that often, especially to states where they can't charge you the skin, an arm, a leg, and your first born, you will get the same rate. The rate depends mainly on your credit and your credit doesn't drastically change overnight either or from state to state, furthermore keeping you rate quote a constant through out the nation. If anything, I would advise you to stay locally, in which ever state you are a resident because if you go to another state, you won't have anything developed in that state such as your stay length and your job. As sure as hell, they will ask you why are you applying in South Dakota if you have been living in New York for 10 years. If you tell them that you just moved here, that is even worse. In addition, if you go to different states and apply again and again, even with the same company, your credit will hit some enquiries and the score will actually decrease. You credit rating will become worse and then even if you apply home, they will charge you more than what they would have originally, because they will see that you have tried multiple attempts so you must be desperate and they will be then careful giving you such a loan. Also, if you do this with the SAME company in different states, they will instantly see that and consider it some sort of a fraud and outright deny you. The lesson learned, apply locally wherever you are considered a resident. You should obviously go to different lenders and get a quote and make sure to ask them if this enquiry will show up on your report or not. There is an official enquiry which does show up and then there is a prescreening, which doesn't show up. You obviously want the prescreening so that your credit score will not decrease until you have made your decision and are ready to take out the loan. DO NOT go out of state. DO NOT enquire with the same company multiple times especially if they reject you the first time.

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Determination of Benchmark Prime Lending Rate (BPLR) 2.3.1. In order to enhance transparency in banks’ pricing of their loan products as also to ensure that the BPLR truly reflects the actual costs, banks should be guided by the following considerations while determining their Benchmark PLR: a) Banks should take into account their (i) actual cost of funds, (ii) operating expenses and (iii) a minimum margin to cover regulatory requirement of provisioning / capital charge and profit margin, while arriving at the benchmark PLR. Banks should announce a Benchmark PLR with the approval of their Boards. b) The Benchmark PLR will be the ceiling rate for credit limit up to Rs.2 lakh. c) All other lending rates can be determined with reference to the Benchmark PLR arrived at as above by taking into account term remia and / or risk premia. Detailed guidelines on operational aspects of Benchmark PLR have been issued by IBA on November 25, 2003. 2.3.2. In the interest of customer protection and to have greater degree of transparency in regard to actual interest rates charged to borrowers, banks should continue to provide information on maximum and minimum interest rates charged together with the Benchmark PLR. 2.4. Freedom to fix Lending Rates 2.4.1. Banks are free to determine the rates of interest without reference to BPLR and regardless of the size in respect of the following loans: i. Loans for purchase of consumer durables; ii. Loans to individuals against shares and debentures / bonds; iii. Other non-priority sector personal loans including credit card dues; iv. Advances / overdrafts against domestic / NRE / FCNR (B) deposits with the bank, provided that the deposit/s stands / stand either in the name(s) of the borrower himself / borrowers themselves, or in the names of the borrower jointly with another person; v. Finance granted to intermediary agencies including housing finance intermediary agencies (list at Annex 2) for on-lending to ultimate beneficiaries and agencies providing input support.; vi. Discounting of Bills; vii. Loans / Advances / Cash Credit / Overdrafts against commodities subject to Selective Credit Control; viii. To a co-operative bank or to any other banking institution; ix. To its own employees; x. Loans covered by refinance schemes of term lending institutions.

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I am looking at a mortgage that tracks the bank of scotland base rate, and wondered how much this differed, and/or was likely to differ, from the bank of england base rate? scotsman - thanks for that, i always thought the same, until i got a mortgage quote from the bank of scotland, quoting that it tracks the bank of scotland base rate! that got me thinking!

Technically there is no longer something called the BoE Base Rate. It was the minimum lending rate, the base rate, the repo rate but is nowofficial Bank rate paid on commercial bank reserves. Same sh1t, different name! For some years now, most banks have had their own base rate, but it has tracked the BoE prime rate on a daily basis. That is because the BoE may say the repo rate is 4.75%, but there may be market turmoil one day and BoS base rate or Barclays base rate may increase to reflect a higher cost of funding on the part of the lending bank in the wholesale market. That said, these are rare occurrences. BoS will, in their ending documentation, tell you how they publicise any changes in their base rate.

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I'm currently with the royal bank of scotland for both my current account and my savings account. i've been noticing however that the interest rates they give you are abysmal on both, it's currently 0.08% on my current account and 1.24% on my savings account. i'm not a silly man and even i know that my money is shrinking by being in these accounts, instead of growing. i've spoke with them and they say i'm getting the best rates possible but i would beg to differ, i earn nearly a 5 figure salary, have no debt, have been very loyal to them for years, but still they give me poor rates. can you suggest anything that i could do? any help is greatly appreciated. thanks.

Banks rely on customer loyalty. They usually tempt new customers with market leading rates while paying much lower rates to existing customers. The best thing to do is to switch both your current and savings accounts. For current account, many banks offer a switching service, where they will transfer your direct debits and standing orders for you. The current account market has been extremely competitive of late and rates as high as 8.19% can be found. The best account for you will vary on your circumstance, i.e. do you require internet banking, and how much will you fund the account each month. Savers have never had it so good. The banks and building societies are competing for savers money and there are some fantastic rates available. Again this depends on the type of account you require. If you log on to http://www.moneyfacts.co.uk you can use our searches to find the best accounts for your circumstances.

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Hi all, this is pretty trivial but i would like someone to explain this to me. i have tried asking ing or browsing through the web but saw no explanations. my question is on compound interest vs regular interest in ing-cds or cds in gerneral say i have a 4.25% (which is ing's current cd rate for 1 year) say if i put 10,000.00 at that rate. it comes out to 10,425.00 at the end of the year. so that is 4.25 / 12 = 0.354 accrued each month so month 1: 10,000.00 x 1.00354= 10,035.4 so month 2: 10,000.00 x 1.00354= 10,035.4 so month 3: 10,000.00 x .00354= 35.4 so month 2: 10,000.00 x .00354= 35.4 . . . so month 12: 10,000.00 x .00354= 35.4 i am confused i thought it was my impression is that compound interest would result so month 1: 10,000.00 x .00354= 35.4 so month 2: 10,035.40 x .00354= 35.52 . . . and so on how should this be done so that a person can get as max interest as possible? do you set up a cd and have that interest differed to your bank account every month? thank you very much

Has to do with the interest rates vs. the federal rate? Y'know how Wall Street fluctuates? That's a poor example, but it's the best I can come with. Some sources for you: http://en.wikipedia.org/wiki/Real_interest_rate http://en.wikipedia.org/wiki/Certificate_of_deposit ING (after clicking on "Open a CD" button): As with any CD, should you decide to withdraw your deposit before the end of the term, certain penalties will apply. For any Orange CD term that is 12 months or less, you'll forfeit 3 months of interest regardless of when, prior to maturity, you redeem. For any Orange CD term that's greater than 12 months, you'll forfeit 6 months of interest regardless of when, prior to maturity, you redeem. The penalty for early withdrawal may be greater than the interest you have earned on your deposit.

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Is the interest on the initial deposit for a new develpment condo taxable? the money was place in an interest bearing escrow account since last year, but to date i have not received a 1099-int from the seller's lawyer. i am assuming that this interest will be returned to me at closing, but is that true? (i have friends that got their interest back but it was for a coop) so not sure if there are special rules on interest for these accounts. the property is in nyc. per the bank, i know that the interest is enough to generate a 1099-int but the amount differs from what it would have been if it was using the rate the seller lawyer quoted me. the difference is 6000% either that or they made a typo. i want to file what the irs will see and if it is truely taxable to me. i don't want to report anything that i will not be getting.

Of course. Uncle Sam always get's his cut.