| Banks | Domestic - Incoming | Domestic - Outgoing | Foreign - Incoming | Foreign - Outgoing |
|---|---|---|---|---|
| Bank of America | $15 | $25 | $16 | $45 |
| Wells Fargo | $15 | $30 | $16 | $45 |
| Chase | $15 | $30 | $15 | $45 |
| Citibank | $10 | $25 | $10 | $40 |
| U.S. Bank | $20 | $30 | $25 | $50 |
| PNC Bank | $15 | $25 | $15 | $45 |
| Capital One | $15 | $25 | $15 | $50 |
| TD Bank | $15 | $25 | $15 | $40 |
| BB&T | $15 | $24 | $18 | $65 |
| SunTrust | $15 | $25 | $30 | $50 |
Tuesday, August 18, 2015
Wire transfer fees Comparison
Here’s a chart of the wire transfer fees charged by the 10 biggest U.S. banks:
Bank Fees Comparison -Cashier's Cheque
Here is a table that compares the cost of cashier’s checks at the 10 largest U.S. banks:
| Bank | Cashier's Check | Locations |
|---|---|---|
| Bank of America | $10 | Find branches near you |
| Wells Fargo | $10 | Find branches near you |
| Chase | $8 | Find branches near you |
| Citibank | $10 | Find branches near you |
| U.S. Bank | $7 | Find branches near you |
| PNC Bank | $10 | Find branches near you |
| Capital One | $10 | Find branches near you |
| TD Bank | $8 | Find branches near you |
| BB&T | $10 | Find branches near you |
| SunTrust | $8 | Find branches near you |
| AVERAGE | $9.10 |
Thursday, May 21, 2015
eTDR Vs eSTDR
A Term Deposit or a Special Term Deposit?
The SBI, broadly, categorises its term
(or fixed) deposits into two product types : Term Deposit (TDR) &
Special Term Deposits (STDR). The TDR pays out the
interest earned by you at a periodicity (monthly, quarterly, half yearly
or yearly) chosen by you at the time of opening of the account.
However, in the case of a STDR, the interest earned by you is reinvested instead of getting paid out.
If you don't need a regular income in
the form of interest payouts, it makes sense to go for a STDR as it
allows you to reap the dividends of compounding. The
interest accruing on your deposit with the Bank gets reinvested (or
compounded) quarterly, giving you superior returns from the first year
itself. Let us take the example of the current interest rate of 9.25 %,
offered by SBI for domestic term deposits of period one year and above.
While a TDR will yield a return of 9.25 %, a STDR will give you an yield
of 9.58 % at the end of the first year itself. And the longer your
deposit remains with the Bank, the better the returns. A STDR for 120
months, the maximum period for which SBI accepts term deposits, will
give an annual return of 14.95 %. The following table illustrates the
annual returns for an investment of Rs. One Lac, at the current interest
rate of 9.25 %, if the interest reinvestment option is chosen.
| year end | your deposit | Annual return |
| 1 | 109575.83 | 9.58 |
| 2 | 120068.64 | 10.03 |
| 3 | 131566.21 | 10.52 |
| 4 | 144164.77 | 11.04 |
| 5 | 157969.75 | 11.59 |
| 6 | 173096.67 | 12.18 |
| 7 | 189672.12 | 12.81 |
| 8 | 207834.81 | 13.48 |
| 9 | 227736.73 | 14.19 |
| 10 | 249544.42 | 14.95 |
At the cost of repetition, if you can
keep without regular stream of interest payout, let your funds
experience the magic of compounding.
Thursday, May 14, 2015
Social Security schemes in pension and insurance sector..
- Pradhan Mantri Suraksha Bima Yojana (PMSBY)
- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
- Atal Pension Yojana (APY)
Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) will provide insurance cover in the unfortunate event of death by any cause or disability due to an accident, whereas the pension scheme, Atal Pension Yojana(APY),is to address old age income security needs.
The convenient delivery mechanism of the schemes is expected to address the situation of very low coverage of life or accident insurance and old age income security products in the country. PMSBY will offer a renewable one year accidental death cum disability cover of Rs 2 lakh for partial permanent disability to all savings bank account holders in the age group of 18-70 years for a premium of Rs 12 per annum per subscriber, it said.
The scheme would be administered through public sector general insurance companies or other general insurance companies willing to offer the product on similar terms on the choice of the bank concerned. PMJJBY on the other hand will offer a renewable one year life cover of Rs 2 lakh to all savings bank account holders in the age group of 18-50 years, covering death due to any reason, for a premium of Rs 330 per annum per subscriber.
NRI's are not elgible for APY
Jeevan Jyoti Bima Yojana (PMJJBY) vs Suraksha Bima Yojana (PMSBY)
| S. No. | Features | Pradhan Mantri Suraksha Bima Yojana (PMSBY) | Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) |
| 1. | Eligibility | 18-70 years | 18-50 years |
| 2. | Number of Policy | One Policy Per Person | One Policy Per Person |
| 3. | When to Join the Scheme? | In any year after giving the premium subject to the age. | In any year after giving the premium subject to the age. |
| 4. | Sum Assured (Fixed) | Rs.2 lakhs | Rs.2 lakhs |
| 5. | Premium | Rs. 12 per annum | Rs. 330 per annum |
| 6. | Cover ceasing age | At the age of 70 years | At the age of 55 years |
| 7. | Maturity Benefit | Nil | Nil |
| 8. | Death Benefit (Natural Death) | Nil | Rs.2 lakhs |
| 9. | Death Benefit (Accidental Death) | Rs.2 lakhs | Rs.2 lakhs |
| 10. | Disability of both eyes, both hands, both legs or one eye and one limb | Rs.2 lakhs | Nil |
| 11. | Disability of one eye or one limb | Rs.1 lakh | Nil |
| 12. | Maximum Insurance cover | Rs.2 lakhs (From any one of Bank account) | Rs.2 lakhs (From any one of Bank account) |
| 13. | Risk Period | 1st June to 31st May every year. | 1st June to 31st May every year. |
| 14. | Mode of Payment | Premium will be auto debited from account in the month of May every year. | Premium will be auto debited from account in the month of May every year. |
| 15. | Mandatory Document | Aadhar Card | Aadhar Card |
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