The document provides an overview of various types of bank deposits including individual accounts, joint accounts, accounts for sole proprietorships, partnerships, limited companies, clubs, trusts, and more. It discusses the key documents and information required for opening different types of accounts. It also covers topics like interest payment processes, nominee facilities, and procedures regarding deceased account holders.
Recurring account is an account where the depositor deposits fixed amount of funds at regular intervals of time. Here is PowerPoint presentation that covers where to open a recurring account, its advantages and eligibility. Read this presentation to know more!
Fixed deposit (FD) is a type of deposit which can be withdrawn only after a pre-defined tenure and attracts a higher interest rate when compared to savings account. The minimum period for placing these deposit is 7 days while the maximum period is 120 months. A recent study indicates that banks are now free to determine the rate of interest to be offered on FDs. Banks may offer deposits on a floating rate, interest shall be paid on quarterly or longer rests and interest is calculated on daily balance. Further, scheduled banks with a total deposit of less than Rs 25 crores are permitted to give an additional ½% interest. When the amount paid to the individual is in excess of Rs 10,000 bank has to deduct tax at source if the depositor has not submitted Form 15H or 15G or certificate u/s197(1) of the Income Tax Act 1961. Banks have the discretion to disallow premature withdrawal of large deposits other than individuals and Hindu Undivided Family (HUF). On maturity if the bank does not receive any intimation from the depositor then such deposits are recorded as overdue deposits in the books of the bank. Banks can grant loans by taking FD as a security. However, there are certain prohibitions to raising Fixed Deposits: banks cannot launch deposits with freebies such as free lunch and trips, for example.
Recurring account is an account where the depositor deposits fixed amount of funds at regular intervals of time. Here is PowerPoint presentation that covers where to open a recurring account, its advantages and eligibility. Read this presentation to know more!
Fixed deposit (FD) is a type of deposit which can be withdrawn only after a pre-defined tenure and attracts a higher interest rate when compared to savings account. The minimum period for placing these deposit is 7 days while the maximum period is 120 months. A recent study indicates that banks are now free to determine the rate of interest to be offered on FDs. Banks may offer deposits on a floating rate, interest shall be paid on quarterly or longer rests and interest is calculated on daily balance. Further, scheduled banks with a total deposit of less than Rs 25 crores are permitted to give an additional ½% interest. When the amount paid to the individual is in excess of Rs 10,000 bank has to deduct tax at source if the depositor has not submitted Form 15H or 15G or certificate u/s197(1) of the Income Tax Act 1961. Banks have the discretion to disallow premature withdrawal of large deposits other than individuals and Hindu Undivided Family (HUF). On maturity if the bank does not receive any intimation from the depositor then such deposits are recorded as overdue deposits in the books of the bank. Banks can grant loans by taking FD as a security. However, there are certain prohibitions to raising Fixed Deposits: banks cannot launch deposits with freebies such as free lunch and trips, for example.
Opening an account with a bank creates relationship between the bank and the account holder. Anyone who can enter into a contract can open an account. Even minors can open account jointly with their guardians. Individuals, sole proprietors, partnerships, Hindu Undivided Family (HUF), trusts, associations and Limited companies are some examples of those who can open an account with the bank. As per RBI guidelines an account can be opened only if the person wanting to open an account has an introducer. The guideline further suggests that the introduction should be by an existing customer, a respectable person of the local community, and another banker. The bank can insist on a photograph before opening the account except in cases of savings account where no cheque facility is provided, fixed and term deposit upto an amount of Rs 10,000, accounts like cash credit and overdrafts etc. and staff members. Apart from furnishing a proof of address banks can also insist on a declaration that he/she does not enjoy credit facilities from other banks.
Savings account is focused on individuals and puts a limit to the amount of money the depositor can withdraw from the same. Except specified institutions a saving account cannot be opened in the name of a government department. The procedure for opening a saving account is similar to the procedure followed for opening any other type of bank account. In times of calamities however RBI has permitted banks to allow an individual to open a saving account either against electricity bill or any other document of identity or through an introduction from another account holder. When it comes to depositing money in a saving account, a holder cannot deposit third party cheques into the saving account. There is no transaction tax to be paid in case of a saving account. Interest paid to saving account (3.5%) is calculated by taking into account the lowest balance on the 10th and end of the month. An additional 1% interest is payable to retired employees or spouse of a retired employee if the latter is deceased. The operation of saving account is stopped if the customer dies or becomes insane or insolvent. If the customer cannot be traced then the bank will place the balance in an unclaimed deposit account.
Usually, a current account is opened for commercial or business purposes and is a form of demand deposit from which the holder can withdraw money any number of times or upto an agreed amount. Opening a current account is a risky proposition for the banks. For instance, if the bank makes an overdraft by mistake, then the bank has to bear the loss if it is unpaid. There is no restriction to the amount deposited in the current account. This form of account is liable for transaction tax especially if the individual or a Hindu Undivided Family (HUF) withdraws Rs 50,000 in cash on any single day. Similar tax is also levied on a corporate entity if the withdrawal is Rs 1,00,000 and above. Although no interest or countervailing interest is payable on a current account however banks are entitled to pay interest to the account of a regional rural bank or the account of a deceased individual. As far as nomination is concerned a single depositor can make nominations while nominations cannot be made by incorporated entities or other trade bodies. With respect to current accounts there are several prohibitions placed on the banks. For example, the bank cannot lure the depositors by announcing prizes or attractive lottery schemes. Similarly, banks also cannot pay brokerage or gifts to agents for deposits placed at the bank.
Opening an account with a bank creates relationship between the bank and the account holder. Anyone who can enter into a contract can open an account. Even minors can open account jointly with their guardians. Individuals, sole proprietors, partnerships, Hindu Undivided Family (HUF), trusts, associations and Limited companies are some examples of those who can open an account with the bank. As per RBI guidelines an account can be opened only if the person wanting to open an account has an introducer. The guideline further suggests that the introduction should be by an existing customer, a respectable person of the local community, and another banker. The bank can insist on a photograph before opening the account except in cases of savings account where no cheque facility is provided, fixed and term deposit upto an amount of Rs 10,000, accounts like cash credit and overdrafts etc. and staff members. Apart from furnishing a proof of address banks can also insist on a declaration that he/she does not enjoy credit facilities from other banks.
Savings account is focused on individuals and puts a limit to the amount of money the depositor can withdraw from the same. Except specified institutions a saving account cannot be opened in the name of a government department. The procedure for opening a saving account is similar to the procedure followed for opening any other type of bank account. In times of calamities however RBI has permitted banks to allow an individual to open a saving account either against electricity bill or any other document of identity or through an introduction from another account holder. When it comes to depositing money in a saving account, a holder cannot deposit third party cheques into the saving account. There is no transaction tax to be paid in case of a saving account. Interest paid to saving account (3.5%) is calculated by taking into account the lowest balance on the 10th and end of the month. An additional 1% interest is payable to retired employees or spouse of a retired employee if the latter is deceased. The operation of saving account is stopped if the customer dies or becomes insane or insolvent. If the customer cannot be traced then the bank will place the balance in an unclaimed deposit account.
Usually, a current account is opened for commercial or business purposes and is a form of demand deposit from which the holder can withdraw money any number of times or upto an agreed amount. Opening a current account is a risky proposition for the banks. For instance, if the bank makes an overdraft by mistake, then the bank has to bear the loss if it is unpaid. There is no restriction to the amount deposited in the current account. This form of account is liable for transaction tax especially if the individual or a Hindu Undivided Family (HUF) withdraws Rs 50,000 in cash on any single day. Similar tax is also levied on a corporate entity if the withdrawal is Rs 1,00,000 and above. Although no interest or countervailing interest is payable on a current account however banks are entitled to pay interest to the account of a regional rural bank or the account of a deceased individual. As far as nomination is concerned a single depositor can make nominations while nominations cannot be made by incorporated entities or other trade bodies. With respect to current accounts there are several prohibitions placed on the banks. For example, the bank cannot lure the depositors by announcing prizes or attractive lottery schemes. Similarly, banks also cannot pay brokerage or gifts to agents for deposits placed at the bank.
Kut Financial purchases delinquent subprime auto debt and refinances to fit the budget of our clients. But we don't stop there...We provide education, progress dashboard, and proactive engagement to ensure clients improve their financial wellness
Powerpoint presentationDeliverable Length 5 - 7 slides with .docxChantellPantoja184
Powerpoint presentation
Deliverable Length: 5 - 7 slides with speaker notes of 200 - 250 words per slide (excluding Title and Reference slides) APA FORMAT
You, as a HR Generalist, have been asked by your HR Director for your recommendations in terms of what tools your organization could use to better manage the talents of your employees. This will help to develop policies and procedures in managing your human capital. Please develop a PowerPoint presentation to your Director addressing the following:
· Describe and analyze the broad range of talent management efforts that use software applications to help you Director to make an educated decision.
· Give some examples of firms that have successfully used these applications.
· Describe how these efforts are useful in terms of strategic human capital management.
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Plaintiff in Pro Se,
ClearChoice Community Services Inc.
2736 Lyndale Ave S Suit e202
Minneapolis MN 55408
Telephone No.9522220251
STATE OF MINNESOTA
DISTRICT COURT
County of Hennepin
Judicial District:
Court File number:
Case Type:
ClearChoice Community Services Inc.
Plaintiff Pro Se
V
Caskecla Investment
THEODORE J MEYERS
JOHN DOE I-XX, et al.
Defendants
PARTIES TO THE ACTION
1. Plaintiff Pro se, ClearChoice Community Services Inc. (herein referred as Borrower/Plaintiffs) all times relevant have resided at 4816 Nicollet Ave S Minneapolis MN 55419
2. Defendant Caskecla Investment (herein after refreed to as Lender) having its place of business at 8271 SE Sanctuary Drive, Hobe Sound FL 33455
3. Defendant THEODORE J. MEYERS having its place of business at 1755 St. Marys Street lcon Heights MN 55113
4. Any allegations about acts of any corporate or other business of Defendants means that the corporation or other business did the alleged acts through its officers, directors, employees, agents and/or representatives while they were acting within the actual or ostensible scope of their authority.
5. At all relevant times, each Defendant committed acts, caused or directed others to commit the acts, or permitted others to commit the acts alleged in this Complaint; additionally, some of the Defendants acted as the agent for other Defendants, and all of the Defendants in connivance with each other acted within the scope of their agency as if acting as the agent of another.
6. Knowing or realizing that other Defendants were engaging in or planning to engage in unlawful conduct, each Defendant nevertheless cilitated the commission of those unlawful acts.
7. Each Defendant intended to and did encourage, cilitate or assist in the commission of the unlawful acts, and thereby aided and abetted the other Defendants in the unlawful conduct.
I. CTUAL BACKGROUND:
(a) In the present case, the Deed of Trust for the Property listed the borrower, as "ClearChoice Community Services Inc.," and listed the Lender, as "Caskecla Investment, “ The Caskecla Investment, was renamed Caskecla Investment and later on was clo.
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