In this economic recession, the banks are cutting down on the interest rates that they are giving in their fixed deposit schemes.
There used to many schemes where the interest rates of over 10 % used to be the norm for any fixed deposit. But now after the financial crisis, the investments are getting harder and the profits are decreasing forcing the banks to lower their interest rates.
So now with stock market crashing, the real estate on a downslide and now this interest rates declining, the investment option for those looking to save for future are getting much harder and yielding less money.
Gold was recently a good option as many people flocked to buy them when other investment options were not that good. But now even the price of gold doesnt seem to be increasing that much. So the consumers are now quite confused as to which one to invest in.
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