Personal loan interest rate

it varies on many factors like you credit history your CR but normally HDFC and ICICI Bank have lower rates.you can approach to these banks.
 
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Franknog

Guest
I would be grateful for some help with this question.

Bank A offers to pay continuous interest on your savings with the time dependent interest rate . Bank B with time dependent rate and C with constant rate where t denotes time in units of years. you want to fix your saving for one year. which offer should you choose? for the best offer, what do you have in your account after 1 year if you intially deposited £1000?
 

TaxWiser

KF Mentor
I would be grateful for some help with this question.

Bank A offers to pay continuous interest on your savings with the time dependent interest rate . Bank B with time dependent rate and C with constant rate where t denotes time in units of years. you want to fix your saving for one year. which offer should you choose? for the best offer, what do you have in your account after 1 year if you intially deposited £1000?
Which is Best?
  • Continuous compounding (Bank A) generally yields higher returns than standard compounding.
  • If Bank A's time-dependent interest rate is favorable throughout the year, it will likely outperform Bank B and C.
  • If Bank B’s average rate over the year is higher than Bank A's equivalent continuous rate, then it may be preferable.
  • Bank C is usually the least beneficial unless its fixed rate is surprisingly high.
To determine the actual balance in each case, requires the specific interest rates. Use AI to get the the precise figures. 🤗
 
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