15 Things You Should Know about Safe Deposit Boxes #safe #deposit #boxes,bank


15 Things You Should Know about Safe Deposit Boxes

I ve had a safe deposit box for over a year now. When I first got mine I did some research on safe deposit boxes and thought I d share some of what I found out.

1. Safe deposit boxes are pretty affordable. I have one that is roughly four inches high by six inches wide and two feet long, which costs me $20 per year. The larger the size the higher the price. Annual fees for boxes typically range in price from $20-$150.

2. The contents of a safe deposit boxes are not covered by FDIC insurance.

3. Store copies of important documents in multiple locations. Don t leave the only copy of an important document such as a will, mortgage, title, or insurance policy in your safe deposit box.

4. Seal documents in a zip lock bag or Tupperware for added protection. According to a few articles I ve read, flooding is one of the most common hazards to safe deposit boxes.

5. If given the choice, choose a box that is higher up off the floor to give you greater protection from flooding.

6. Never store a passport or any document you might need to get a hold of in emergency in a safe deposit box. What would you do if you needed to get a hold of an important document in your box when the bank is closed.

7. When you first get your safe deposit box ask the bank if there is a number you can call to get access to your box in case of an emergency when the bank is closed.

8. Consider giving a trustworthy person such as a parent or sibling access to your safe deposit box in the event you become disabled or are out of the country and need access to an important document inside your box. This person will need to sign a signature card to gain access to your box.

9. Talk to your insurance agent to see whether your homeowners coverage extends to items in your safe deposit box.

10. Keep an inventory of what s in your safe deposit box and take a picture of the contents to help you with making a claim.

11. Make sure to pay the box rent as the contents of the box may be seized as unclaimed property by the sate if it goes unpaid.

12. When I opened up a safe deposit box the banker told me that it was illegal to store U.S. cash in your box. The banker said this is considered taking currency out of circulation which is against federal law. I read an online post by another commenter whose attorney and banker confirmed this. However, I don t believe it is widely known that you are not allowed to store cash in your safe deposit box. I asked my banker if you could store foreign currency in a safe deposit box but she didn t know. I assume it s ok.

13. Many people use safe deposit boxes to store precious metals like gold and silver. In the 1930 s it became illegal to own gold and it was confiscated by the U.S. government. When you went to your box a bank representative would have to make sure there was no gold in your box. If there was, they confiscated it and paid you the prevailing price for your gold in cash. I don t believe this will happen again, for one thing, back in the thirties the dollar was pegged to gold which was the primary driver of the policy. We have since gone completely off the gold standard and the dollar is no longer pegged to gold.

14. If you just want to store copies of important documents you might want to consider an online safe deposit box as an alternative. Some banks are starting to offer these, but check the price because they can sometimes cost more than physical safe deposit boxes which doesn t make much sense to me. If you re not too concerned with security you could also store documents with an online e-mail service like gmail or Yahoo mail.

15. Safe deposit boxes are pretty popular. At one of my local banks not one single box was available. If you are considering getting a box you may want to enquire with your local bank as to availability and move quickly if there are only a few left.

Do you have any safe deposit box tips? Please share them in the comments below.

TD app – Electronic Banking #td #mobile #deposit, #mobile #banking


TD app

* You will receive an SMS text message to your mobile phone with access instructions for the TD app. Your mobile phone number will not be used for any other purpose. The TD app is free to download, however standard wireless carrier message and data rates may apply. Please consult your wireless carrier for applicable text messaging fees and data plan rates.

For iPhone
and Android

For Windows
and BlackBerry **


The TD app is easier to use – with improved features

Get quick and secure access to your TD chequing, savings, credit, and investment accounts – so you
can bank and invest on the go.

Manage your money better

Here are some features you can expect:

  • View account balances and transaction history
  • Send and receive money with Interac e-Transfer ®
  • Make Canadian and U.S. bill payments
  • View Pending Transactions on your Credit Card Account in real time
  • And more

Our latest, greatest improvements, include:

  • Mobile Cheque Deposits are now easier – plus, we’ve increased daily limits
  • On eligible devices, Touch ID allows you to use your fingerprint to log in
  • Calling TD Canada Trust from the app saves you time by securely and seamlessly identifying you to our contact centre rep

iOS version 8 or higher, or Android version 4.1 or higher required.

Best Interest Rate on Senior Citizens Bank Fixed Deposits- July 2017 #fd


Best Interest Rate on Senior Citizens Bank Fixed Deposits July 2017

Highest Interest Rate on Bank Fixed Deposits for Senior Citizens July 2017

The post lists down the rate of interest on Bank fixed deposits for Senior Citizens as of July 4, 2017.

You might want to bookmark this page as the FD interest rates would be updated every month. Would help you in better decision making.

Fixed Deposit Highlights:

  • Most banks offer FDs for tenure of 7 Days to 10 Years.
  • The Ratnakar Bank IDBI Bank do offer fixed deposits up to 20 years too .
  • For very short Term Deposits the interest rate is similar to that of Savings Account and so you should not worry about FD. Also Interest up to Rs 10,000 in Saving Account is Tax free .
  • Most banks compound interest quarterly
  • Banks offer Loan/Overdraft against the amount available in Fixed Deposit. The interest is generally 0.5% to 1% more than that offered to FD.
  • TDS (Tax deduction at source) at the rate of 10% is deducted, if the interest income is more than Rs 10,000 in financial year per bank. You can fill Form15G/H
  • You can fill Form15G/H if you want to avoid TDS .
  • There might be penalty for pre-mature withdrawal of Fixed Deposits

Fixed Deposit Interest Rates:

The highest interest rate is offered by The Deutsche Bank at 8.25% for 1 to 2 years Fixed Deposit.

For comparing the best interest rates on fixed deposits over different duration of investment, we have it divided into following 5 slabs:

  • FD for Less than 1 Year
  • FD for 1 to 2 years
  • FD for 2 to 5 Years
  • FD for 5 to 10 years
  • FD for More than 10 years

We show the highest interest rates on fixed deposits for the above duration buckets. We have also compared the best interest rates on offer by that being offered by State Bank of India (SBI), ICICI Bank and Post Offices.

Interest Rate (Senior Citizens) for FD Less than 1 Year:

The highest interest rate is offered by The Ratnakar Bank (241 days to 364 days) at 7.60% .

Shankar Iyer says:

I suppose there has to be an extensive study before stats are pur out esp. with reference to Ratnakar Bank. If you could check Varacha Bank, Surat Peoples Bank, Sutex Bank, Sarvoday Coop Bank ( all coop banks in Surrat) whose financials are available and NPAs are available for view. These give better returns than Ratnakar. Also, see Gujarat Rajya Karmachari Coop Bank. Investments upto Rs. 1 lac is insured. Also, the investor needs to be educated on the maneouveing of applicant names while opening accounts with coop banks, so that only the benefit of sr citizen is obtained, but the deposits are also insured.

I agree with your views and you can use various combinations of names of account holders to get benefit of deposit insurance. Historically co-operative banks have been riskier and so they offer higher interest rate. Also claiming insurance in case of default is not easy and it may take time. So it s individuals call weather to take risk for slightly higher interest rates.

The Difference Between a Certificate of Deposit and a Fixed Deposit –


The Difference Between a Certificate of Deposit and a Fixed Deposit

Savings accounts are designed to you build reserves of money for emergencies or major expenditures, like a new car or refrigerator. You want that money to earn as much interest as possible, but you also want it to be safe, so there is no chance of a loss like there might be with a securities investment. Fixed deposits and Certificates of Deposit, or CDs, give you a chance to save money in a safe place. Unlike traditional savings accounts, however, you will have to wait a set period of time to withdraw from many fixed deposit or CD accounts.


Certificates of deposit and fixed deposits (also called time deposits) are essentially the same thing. Some banks even refer to fixed deposits as CDs. Both CDs and fixed deposits will pay interest more than passbook savings accounts, where money can be withdrawn at any time.


CDs and fixed deposits in a bank or savings and loan are guaranteed by the Federal Deposit Insurance Corp. for up to $250,000 per institution. Some institutions offer higher rates on CDs with call options, which give the issuing bank the option to call or terminate the CD before its scheduled maturity. This protects the bank against having a portfolio of high-interest accounts if interest rates suddenly drop.

Time Periods

CDs typically are issued for periods of 30 days to five years. Rules vary with issuers, but many CDs hold interest until the certificate matures. Other CD issuers, and most fixed deposits, pay interest at some regular specified period, like every month. The holder has the option of taking that money out or leaving it in the account.

Non-Bank CDs

Some CDs are issued by stock brokerages or similar firms and often offer higher interest rates, but lack the federal insurance. Make sure you know the real issuer of the CD to ensure it is insured. If a CD is issued through a broker, find out who really issues it and holds the funds.


Many CDs and some fixed deposits have penalties for early withdrawal of funds, although some banks now offer no penalty CDs. Be sure you check these provisions before you put money into either a CD or fixed deposit. Fixed deposits that are not specifically CDs might have special withdrawal options, so an investor can take out a certain amount within a given time period. For instance, withdrawals might be limited to so many per quarter or to a certain percentage of the total account.


Some institutions now offer variable rate CDs or fixed deposits. These have time restrictions, but the interest rates can vary with changes in general interest rates, either up or down. This can change the value of the investment. With fixed deposits, you know what the rate will be for the duration of the contract.


Some CDs and fixed deposits have automatic renewals, so they start a new time limit at the original expiration. This can affect the availability of money if a 2-year CD rolls over for another two years automatically. Check renewal provisions and at least make sure there is advance notice before any automatic renewal takes effect or you might find funds unavailable when you want them.

TD Mobile Deposit – Electronic Banking #td #mobile #deposit


TD Mobile Deposit

Yes, TD Canada Trust offers extensive security features to ensure that you can deposit cheques in a safe and private mobile environment.

In addition, TD Mobile Deposit cheque images are never stored on your smartphone or tablet. For more information, visit our Mobile Apps Privacy Code.

  • You must have a smartphone or tablet with a rear-facing camera and the latest version of the TD app is recommended.
  • You must have a minimum iOS 8.0+ or Android 4.1.x+ version on your device in order to use TD Mobile Deposit.

For Personal Bank Accounts:

  • You must have at least one eligible Chequing, Savings, or Line of Credit account. A Tax-Free Savings Account (TFSA) is not eligible.

    For Business Banking Customers:

  • You alone are authorized to sign for the business and you are either a sole proprietor or the sole shareholder of a corporation.
  • You have a “Full Access” TD Access Card for the business
  • Your business has one of the following accounts:
    • Business Chequing Account
    • Business Savings Account
    • U.S. Dollar Business Chequing Account

First, you must have a smartphone or tablet with a rear-facing camera and have downloaded the latest version of the TD app. You must have a minimum iOS 8.0+ or Android 4.1.x+ version on your device in order to use TD Mobile Deposit.

  • Login to the latest version of the TD app
  • Locate Deposit in the menu
  • Follow the steps to register for TD Mobile Deposit

Once you have registered for TD Mobile Deposit, follow the instructions on screen, which

  • Select the account into which you’d like to deposit the funds. Cheques must be drawn on a Canadian financial institution. Cheques payable in Canadian currency must be deposited to an eligible Canadian dollar account and cheques payable in U.S. currency must be deposited to an eligible U.S. dollar account.
  • Enter the amount of the cheque.
  • Sign and write “For deposit only” and the Account number on the back of the cheque.
  • Take a photo of the front and back of the cheque with your smartphone or tablet.
  • You also have the option to add a short description in the Personal Memo field.

After you deposit the cheque, write the date and “Deposited” on the front and keep it in a safe place for 14 days and then destroy it.

Access to your funds is the same as if you had completed the cheque deposit at an ATM. Before you complete the cheque deposit using TD Mobile Deposit, you will see the amount of funds that will be available immediately for use. Refer to the Available Now amount shown on the Verify Deposit screen.

Cheques deposited on a business day up until 11:59 p.m. (EST) will be posted to your account the same day. Cheques deposited after 11:59 p.m. (EST) or on weekends or statutory or bank holidays will be posted to your account the next business day. In each case, availability of funds is subject to the Hold Funds Policy.

Yes, there are limits on the amount of funds you can deposit on a daily and rolling 30-day basis. You can locate your limit in TD Mobile Deposit under the Amount field.

There is no fee to deposit a cheque using TD Mobile Deposit to a Personal Bank Account or to a Business Chequing Account that has the TD Unlimited Business Plan.

A fee may be charged where the deposit is made to a Business Chequing Account with the TD Every Day Business Plan or TD Basic Business Plan according to the terms of the plan. Fees are charged to deposit a cheque to a Business Savings Account using TD Mobile Deposit.

If there are changes to fees in the future, we will notify you 60 days in advance.

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Term deposits Vs savings accounts What s best for you? #savings #accounts,


Term deposits Vs savings accounts: What’s best for you?

Where should one stash their cash: savings accounts or term deposits?Andrea Sophocleous investigates.

September 7, 2009

Saving hasn t always been fashionable. Before the global financial crisis began taking its toll on years of economic prosperity and consumer hedonism, excessive spending was a national in fact, global pastime.

Australia may have escaped the full grunt of the GFC, but the new mood of thrifty restraint appears to be hanging around a little longer. This is the perfect environment in which to begin saving for that next rainy day or home loan deposit. And with interest rates set to rise further, so could your savings.

Higher interest rates won t just increase your mortgage repayments ; on the plus side, they could also increase the interest you earn on your high interest savings account .

Savings accounts differ from day-to-day transactional accounts by being designed to help you save for a long-term goal. While you can access your everyday account for all your spending needs using debit cards, ATMs or the internet, any money you deposit in a savings account remains out of everyday reach and accrues interest on the growing balance.

You can make withdrawals whenever you like, but this would make a dent in the amount of interest you are paid. A more prudent option, therefore, is to make regular fortnightly or monthly deposits but no withdrawals.

A high interest savings account, however, is not your only option if you want to get serious about saving. If you are easily tempted into spending rather than saving, a term deposit may be a more suitable path for you to take.

Like savings accounts, term deposits are a low-risk, convenient way to earn higher interest on your money, but because you cannot withdraw any money during the life of your term deposit, your cash will remain safely tucked away, growing at a healthy rate.

Term deposits require a minimum opening balance usually at least $5,000 and can last anywhere from 30 days to five years. The rate is fixed for the duration of the term deposit, so you know exactly how much money you will end up with.

If you already have a few thousand dollars saved, a term deposit is a smart choice because you will start earning a decent amount of money in interest straight away. And if you won t need access to the money too soon, opting for a longer term makes more sense because depending on the term, you could score a higher interest rate.

For example, a 30-day term deposit with ING Direct will see you pocket interest at 3.25 percent p.a. while a two-year term deposit will deliver a more profitable 6.00 percent p.a. interest. So $10,000 will earn $26.71 in interest in 30 days, while after two years your nest egg will be up by $1,200.

As with all financial decisions, shop around for the term deposit that suits your needs. And ensure you won t need the money before your term expires otherwise you will have to wear the cost in hefty fees. If you are starting from scratch, a high interest savings account is a better option because most do not require a minimum opening balance.

The ING Direct Savings Maximiser account will dish out 4.75 percent p.a to new customers who signs up before November 30. This special introductory rate will last until 31 January 2010. Other generous high interest savings accounts include UBank s USaver account, which offers 5.11 percent p.a interest, and Westpac s Reward Saver with a 4.70 percent p.a rate.

There are hundreds of savings accounts to choose from, so researching and comparing interest rates and terms and conditions is essential.

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