How are our bank deposits working for us? How much deposit holders are losing under godi

[JackSeal]

In 2014, the average interest rate on FD of 5 PSU banks was 8.63%, inflation rate was 4.9% and taxation at 30%. Post tax return was 6% and inflation adjusted return was 1.1% 

In 2020 the average interest rate on banks was 5.5%, inflation rate was 6.2% and taxation at 30%. Post tax return was 3.85% and inflation adjusted return is a negative 2.35% 

Every citizen with a Million in deposit would be losing 23,500 each year which in 2014 was a gain of 11000.

Indian banks have 150 Trillion in deposits and people would be losing 3.7 Trillion in 2020 alone. So much for managing our wealth and the economy.

[Pitta]

[rightwar]

13 hours ago, JackSeal said:

In 2014, the average interest rate on FD of 5 PSU banks was 8.63%, inflation rate was 4.9% and taxation at 30%. Post tax return was 6% and inflation adjusted return was 1.1% 

In 2020 the average interest rate on banks was 5.5%, inflation rate was 6.2% and taxation at 30%. Post tax return was 3.85% and inflation adjusted return is a negative 2.35% 

Every citizen with a Million in deposit would be losing 23,500 each year which in 2014 was a gain of 11000.

Indian banks have 150 Trillion in deposits and people would be losing 3.7 Trillion in 2020 alone. So much for managing our wealth and the economy.

FCRI bill thechi deposits anni pothai ani rumors lepi crying chesaruga......mari ippudu emaindhi aa issue?? 

[snoww]

Covid peru seppi inflation entha raise ina inka interest rates low gaane pedatharu for few more years. Bad for savers who depend on FD interest income.  

[Boom1]

2 minutes ago, rightwar said:

FCRI bill thechi deposits anni pothai ani rumors lepi crying chesaruga......mari ippudu emaindhi aa issue?? 

aa topic ee topic ee emi relation

[jamesbond]

FD lo pettukunte sanke.. ala ani inka ekkada pettina double sanke 🤷‍♂️

 

[Pitta]