No. of yrs required to double your money at a given rate, U just divide 72 by interest rate
Eg, if you want to know how long it will take to double your money at 8% interest, divide 72 by 8 and get 9 yrs
At 6% rate, it will take 12 yrs
At 9% rate, it will take 8 yrs
Even though, Public Sector Banks are aimed for the financial inclusion of unbanked class too, Pvt Banks have aim to earn the profits via serving (better I term exploiting) elite class !!
The thread is a little long but could be useful in the context of enhancing the customer service standards in branch banking specifically for PSBs..
Out of my 13+ yrs of experience with three different kind of banks..
#SavePSB
I have no shame to accept the fact that PSBs are far below in customer service standards in banking. Data and reports may differ but it's an outcome of my banking experience.
You may get a clue n a way to act on for the survival of PSB status of (y)our bank n #StopPrivatisation