Salary accounts to yield up to 25% more interest income: Crisil

sathsy · Post by **sathsy** » Mon Apr 05, 2010 11:24 pm

I am not sure if this is discussed elsewhere in the forum.

http://economictimes.indiatimes.com/personal-finance/savings-centre/savings-news/Salary-accounts-to-yield-up-to-25-more-interest-income-Crisil/articleshow/5763935.cms

But this kinda seems confusing for me.

My understanding is, if you have a savings account with this new rule, does it mean the yield is gonna be more than the FD's (currently anywhere from 5 to 6.2%).

Can someone comment on this article? Probably if someone can explain it in novice terms?

I did a basic search and did not find this article in the forum. Please feel free to delete this thread if it is being already discussed.

direstraits88 · Post by **direstraits88** » Tue Apr 06, 2010 2:02 am

It's not 25% real interest.. It may give your 25% more than current rate . Say 3.75% instead of 3%...

sftrade · Post by **sftrade** » Tue Apr 06, 2010 2:04 am

This is the new general interest computation rule on all savings accounts. am not sure why they are taking about only salary accounts. Banks will lose interest income which will now be passed rightlfully to the account holders.

sathsy · Post by **sathsy** » Tue Apr 06, 2010 2:35 am

Thanks @desipardesi. I kinda realized it once I posted it. Thanks for clarifying.