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Bank Rate Monitor
In fact, tracking interest rates of different financial products is taken care of by Bank Rate Monitor Index. Industry experts as well as investing individuals consider the information provided by Bank rate monitor as authentic and reliable. Bank rate monitor furnishes information about many financial products of, which banking products alone account for about 100 such products. The rates are usually provided after extensive research is carried out on the financial instruments in prevailing in the financial markets.
Some of the financial products for, which the indices of Bank Rate Monitor are kept track of, are as follows:
- Mortgage loans, which have a fixed rate of interest for a period of 15 years to 30 years.
- Checking accounts, which bear, interest rates.
- Adjustable Rate Mortgage or ARM for a period of one year.
- Money Market Accounts
- Auto loans for buying a new car
- Home Equity Lines of Credit
- Unsecured Personal Loans
- Credit Cards with fixed as well as variable rates of interest.
- Keeping a track of the rates related to Major Market Indexes.
- Details of various institutions ranking in the first 10 markets.
- CDs or Certificates of Deposits of duration 5 years, 1 year, 2 years.
Importance of the bank rate monitor cannot be denied because it helps investors to decide, which investment tools will give the optimum returns.
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Last Updated on : 30th July 2013