icici Bank fee Question?
in that Bank after $1000.00 Dollar they have intrest rate 1% p.a what is that p.a mean.i didn,t understand they gave to that 1% on $1000.00 if u have in account or they charge from that person on $1000.00.anyone know that if didn,t get then pls check on site of bank in checking account or money transfer section.
hi,in banking terms p.a means per annum.Example-Abc bank gives 11% p.a to its customers.If an accoun holder has Rs. 100000 in bank account then after 1 year he/she will get Rs. 11000 as interest.Similarly bank charges interest on loans given by bank but the rate of interest is higher as banks have to make profilt for itself.Fixed deposits get maximum interest,then saving account & least in current account.
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