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General Forum: Money Matters | | Prudential Bank , Urban Co-operative Banks | |
| Banks are doing business. Any bank declares higher rate of intrest, the deposits floods in.
Now after recieving the deposits what exactly a bank does to pay more intrest for your funds deposited in that bank???
They invest in other business under high intrest????
Banks are basically doing money lending which they don't have ( MOney). If an individual does it's a crime. If it's a group it's a bank. The motive is same.
Don't get trapped by the intrest rates or other fake benifits. The syndicate will deposit huge quantity tons of money infront of you to collect money from the public and for the sake of publicity. They will draw their money nextday.
Intrest rates are different just by 1 % don't take high risk while depositing your funds in a unknown firm / bank / charity.
The boards can turn any movement.
Posted by: Mr. M Kumar N At: 24, Dec 2004 11:41:21 AM IST
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