Fixed Deposit
Latest FD premature withdrawal charges 2024: SBI vs HDFC Bank vs ICICI Bank vs PNB vs YES Bank vs Bank of India
FD premature withdrawal charges of top banks: Banks allow customers to make premature withdrawal of fixed deposits (FD), but usually with a penalty. Here is a look at the penalty charges of SBI, HDFC Bank, ICICI Bank, PNB, Canara Bank, Bank of India and YES Bank for premature withdrawal of FD. (Information as per banks’ websites as on November 20, 2024).
Earn FD interest rates up to 8.25%: 3 banks that have revised FD rates in November 2024
Get interest up to 8.25%: Banks’ interest rates on term deposits change from time to time. Here are some of the banks that have revised their fixed deposit interest rates in November, 2024.
Bajaj Finance FD book rises 21 pc to Rs 66,131 cr as on September-end
Bajaj Finance has announced a 21% increase in its Fixed Deposit book, reaching Rs 66,131 crore by September 30, 2024. The company's customer base has grown to over 92 million, with 61.67 million active app users. Bajaj Finance attributes its success to its reputation for trust and competitive interest rates. The company offers FD rates up to 8.
Best FD rate: Senior citizens can get up to 8.75% interest on fixed deposits maturing in a year; get the full list
Fixed deposit: FD rate for senior citizens are as high as 8.75% for senior citizensin few small finance banks. Read below to know the full list of small finance banks which are offering up to 8.75% interest rate on fixed deposit (FD) for senior citizens. Do note this interest rate is for deposits worth below Rs 3 crore.
Up to 8.15% FD interest rate: Punjab & Sind Bank increases fixed deposit rates
Punjab & Sind Bank has increased fixed deposit interest rates for specific tenures and introduced special tenure fixed deposits with limited period offer. The new rates are effective from October 21, 2024.
FD interest rate up to 8.25%: YES Bank cuts fixed deposit rate by 25 bps on this tenure
FD interest rate up to 8.25%: Yes Bank has reduced fixed deposit (FD) interest rates by as much as 25 basis points (bps) for certain tenures on deposits below Rs 3 crore. These updated FD interest rates will take effect from November 5, 2024.
ET In The Classroom: Large-cap funds
As per regulatory guidelines, a largecap company is a listed company ranked from 1st to 100th on the Indian stock exchanges in terms of market capitalisation. Hence for a fund house, a large-cap scheme needs to invest at least 80% of its corpus in large-cap companies, with the flexibility to invest the remaining 20% in other companies as per the discretion of the fund manager.
Axis Bank revises FD interest rates; now earn up to 7.75% fixed deposit rate
Axis Bank has revised its fixed deposit (FD) interest rates for amounts below Rs 3 crore. The revised FD rates are effective October 21, 2024, according to the Axis Bank website.
How NPS can help you save Rs 55,000 tax in new regime
Sudhir Kaushik of TaxSpanner.com tells readers how they can optimise their tax by rejigging their incomes and investments.
Get up to 9% FD interest rate: Which bank is offering the highest fixed deposit interest rate in October?
Best FD rates:The interest rates for fixed deposits (FDs) are currently increasing due to several rate hikes by the RBI in 2022. The fixed deposit interest rates for public, private, small finance banks, and foreign banks are as follows.
This Diwali, light up your child’s future with Bajaj Finance child FD
This Diwali, consider giving a Bajaj Finance Fixed Deposit to secure your child's future. It offers competitive interest rates, flexible tenures, and high safety ratings. Investing in an FD can provide financial security for your child's education or other life events. This gift idea combines tradition with practical financial planning.
These banks offer above 9% FD interest rate to senior citizens
9% FD interest rate: Many banks offer senior citizens aged 60 and above an additional annual interest rate of 0.50% to 0.75% on fixed deposits, varying by bank. Below are the banks offering over 9% FD interest rate for senior citizens.
Highest interest on 1-year FD: Get up to 8.25% on fixed deposits maturing in a year; full list of banks
Fixed deposit with up to 8.25% interest: There are several banks who are still offering up to 8.25% interest rate on fixed deposit. Read below to find out which banks are still offering such high interest rate to general citizens for FDs worth below Rs 3 crore. Do note this interest is taxable.
Now invest online in FDs giving up to 9.5% interest rate through MobiKwik; check details
FD interest rate up 9.5%: MobiKwik has collaborated with small finance banks to introduce instant fixed deposits (FD) through its mobile app. According to a press release from MobiKwik on October 23, 2024, investors are able to start a fixed deposit without the requirement of opening a new bank account.
FD rates revised in this public sector bank: Up to 7.8% interest on senior citizen FDs; up to 7.3% rate for others
Bank of India fixed deposit (FD): This public sector bank has revised its fixed deposit interest rates. The revised rates are applicable for deposits less than Rs 3 crore. Super senior citizens will get to enjoy a higher interest rate of 7.95%. Read below to know more about Bank of India fixed deposits.
Looking to beat FDs? Bet on lower end of the bond yield curve
Aditya Birla Sun Life Mutual Fund will issue a series of seven such target maturity funds, with tenures ranging from 15-33 months as it believes yields are still lucrative at the lower end of the yield curve. Investors in such schemes could earn a spread of 50-80 basis points over sovereign government securities or fixed deposits.
FD interest rate up to 8.1%: Bank of India launches new FD tenure; who can invest, interest rates
FD interest rate up to 8.1%: Bank of India is offering a higher interest rate for a 400-day fixed deposit tenure on amounts below Rs 3 crore. These revised FD rates will be in effect starting from September 27, 2024.
This bank is offering 6.75% FD interest rate for FD tenures of 7-180 days; check details
Fixed deposit: Now you can get 6.75% interest rate on short tenure FD scheme of Jana Small Finance Bank for tenure ranging between 7 days and 180 days. Retail investors are also eligible to invest in this FD scheme. Read below to know more about this special FD scheme and what is the minimum investment amount.
5 special FDs offering higher interest rates will end on September 30
It's essential to remember that the cutoff for the special fixed deposit (FD) programs offered by banks such as State Bank of India, IDBI, Indian Bank, Punjab and Sindh Bank is set for September 30, 2024. However, these deadlines can be extended depending on the bank.
FD rates revised: Up to 7.9% interest on senior citizen FDs, 7.40% rate on regular fixed deposits
Federal Bank fixed deposit: The bank has revised its FD rate with effect from September 16, 2024. The highest interest rate offered is 7.9% and it is applicable for FDs worth less than Rs 3 crore. Senior citizens investing in fixed deposit must also note that the threshold for deduction of TDS is higher than general citizens.
Bank of Baroda launches new fixed deposit scheme; offers higher FD interest rates of up to 7.9%
Latest Bank of Baroda FD interest rates: Bank of Baroda has recently revised the interest rates for its fixed deposits on specific deposits and unveiled a fresh deposit scheme called the Bob Utsav Deposits Scheme, providing increased interest rates to its clients. These updated rates came into force on October 14, 2024.
FD interest rate up 8.25%: 5 banks that have revised FD rates in September 2024
FD interest rate up 8.25%: The interest rates for fixed deposits are determined at the time of investment and remain unchanged throughout the deposit period. List of banks that have revised their fixed deposit interest rates in September.
Highest FD rates: 5 banks offer up to 9% on 3-year fixed deposits; check the full list
Fixed deposit interest rate: Individuals looking to park their surplus funds in a three year FD can get up to 9% interest rate on FDs. This high interest rate is offered by various banks on three year tenure. Check out the full list of banks offering up to 9% FD interest rate.
Best interest on tax-saver FDs: Get up to 8.25% interest; full list of banks
Five year FD rate: Several banks are still offering up to 8.25% interest rate on fixed deposits worth less than Rs 3 crore. This high rate of interest is being offered for five year tenure. Do note that under the old tax regime you can claim tax deduction up to Rs 1.5 lakh under section 80C for investing in tax savings FD.
FD interest rate up to 7.6%: SBI extends Amrit Kalash special fixed deposit deadline
SBI Amrit Kalash special FD deadline: The deadline for investing in the special fixed deposit 'SBI Amrit Kalash', which offers a higher interest rate, has been extended by the State Bank of India (SBI). The original deadline was September 30, 2024.
Countdown for FD rates fall has started: Last window to invest in fixed deposit at current high rates
RBI has kept its repo rate unchanged for now. However, with falling global interest rates, RBI may soon cut rates, especially by December. FD investors are advised to lock in current high rates before the expected rate cuts. Those opting for short to medium-term FDs should hurry, while long-term FD investors have a bit more time.
RBI MPC announcement on October 9: Attractive FD interest rates to not last long; book fixed deposit now before rate drops
RBI MPC on October 9, 2024: After the US Federal Reserve reduced rates last month, all eyes are on the Reserve Bank of India (RBI) now. A rate cut could signal the end of the high-interest rate era for fixed deposits. The RBI's Monetary Policy Committee announcement on October 9, 2024 will provide clarity on the rate change. What should be the best strategy for your short-term and long-term fixed deposits? Read on to find out
SBI extends two FD schemes
State Bank of India has extended its Amrit Kalash and Amrit Vrishti fixed deposit schemes until March 31, 2025. Amrit Kalash offers 7.10 percent interest for 400 days, while Amrit Vrishti provides 7.25 percent for 444 days. Senior citizens receive an extra 50 basis points. These schemes come after the Reserve Bank of India's recent directive to narrow the deposit-credit growth gap.
This private sector bank has revised FD rates; now get up to 8.25% FD rate
IndusInd Bank has revised the interest rates on fixed deposits (FDs) under Rs 3 crore. According to the bank's official website, the new FD rates are effective from October 7, 2024.
Gap in credit and deposit growth narrows
By the end of September, the gap between credit and deposit growth in India's banking system has narrowed to 162 basis points from 220 basis points. This change reflects regulatory efforts to increase deposits while de-risking the financial system, as demand for loans continues to rise.
FD interest rate up to 8.05%: These three banks have revised their fixed deposit interest rates in October 2024
Latest FD rates: The fixed deposit interest rates of Punjab National Bank, Punjab & Sindh, and Bank of Baroda were updated in October 2024. Below are the revised FD interest rates of these banks.
Deadline to invest in these three banks special FDs with higher interest rates extended
The deadline to invest in special fixed deposits with higher interest rates of Indian Bank, Punjab and Sind and IDBI Bank has been extended from September 30, 2024.
Deposit rates may stay elevated despite slower credit growth
Deposit growth is currently outpacing credit expansion. Although a policy rate cut is expected in the second half of the fiscal year, bank deposit rates are likely to stay high for now. This is due to the slow pace of deposit mobilisation and the need for capital to fund private capital expenditure, which is on the rise.
Ujjivan Small Finance Bank hikes fixed deposit rate on this tenure by 50 bps
Ujjivan SFB offers general customers the highest FD interest rate of 8.25% for a 12-month tenure, while senior citizens can enjoy an even more attractive rate of 8.75% for the same duration.
Investors turn to bonds for higher yields amid equity risks, elevated valuations
Investors are turning to bond platforms like bondbazaar and indiabonds for higher yields amid equity risks and elevated valuations. These platforms offer a variety of bonds, including PSUs, tax-free bonds, and NBFC instruments, allowing investors to earn returns of 7-20% based on their risk appetite.
Earn up to 9.1% FD rate, 7.75% on savings bank account: Suryoday Small Finance Bank revises interest rates
Suryoday Small Finance Bank has revised its fixed deposit interest rates for amounts below Rs 3 crore. The bank has also revised savings account interest rates. The new rates are effective from September 4, 2024, as per the bank website.
Best 5-year FD rates for senior citizens: Earn up to 8.75% interest; full list of banks offering high FD rates
Fixed Deposit: Senior citizens can earn up to 8.75% interest on fixed deposit (FDs) up to Rs 3 crore value. This high interest rate is being offered for an FD of tenure 5 years. Read here to know the full list of banks which are offering such a high interest rate on FDs.
Earn up to 8.50% FD rate: SBI, HDFC Bank, ICICI Bank, Canara Bank, PNB, Yes Bank latest FD interest rates
Latest FD rates: Here is a comparison of SBI, HDFC Bank, ICICI Bank, Canara Bank, PNB, and Yes Bank FD interest rates in September 2024.
Navigating Market Peaks: Why are bonds your smartest move during this rate cut cycle?
Historical trends underscore the impressive performance of bonds during Federal Reserve rate-cutting cycles. Since 1980, bond markets have consistently delivered substantial returns as rates were lowered. A notable example comes from April to June 1980, when an 11% rate cut coincided with an exceptional 18.8% return on the Bloomberg US Aggregate Index. Similarly, between June 1989 and September 1992, a 6.56% rate reduction drove an astonishing 46.3% return.
PSU banks brace for CASA recovery as fixed deposit rates decline: Santanu Chakrabarti
So, if you analyse why money supply or deposit growth in the last two years has not kept pace with the amount of credit that has got created, it becomes very clear that partly it is because of the external account where capital flows have not been that strong, but mostly is because RBI has gone from maintaining an excess liquidity situation into a liquidity shortfall.
NBFCs witness higher deposit growth than banks, records 21% rise in FY24
Non-bank lenders in India have expanded their deposit base by 21% in FY24, outpacing banks' 13.5% growth, according to RBI data. Major NBFCs like Bajaj Finance and Shriram Finance offer higher interest rates than banks, making them attractive to savers. The number of deposit-taking NBFCs has been reduced to 25 from 34 last year.
Bandhan Bank raises its highest deposit rate to 8.05%
Bandhan Bank has updated its deposit rates, introducing a new one-year fixed deposit scheme at 8.05% and discontinuing the one-and-nine month scheme. Senior citizens will receive 8.55% for the one-year deposit. The bank also offers 8% for deposits from one year one day to one year nine months and a five-year tax saver deposit at 7%.
Fixed deposits growth outpace savings deposits growth for last two years, raising cost of funds
Banks' fixed deposits have grown faster than savings deposits for two consecutive fiscal years, increasing the cost of funds and pressuring net interest margins. Term deposits surged by 18.64% to Rs 116 lakh crore by March 2024, while savings deposits rose by 6% to Rs 63 lakh crore.
IDBI Bank hikes FD rate to 7.85% for 444-day tenure
IDBI Bank has raised its fixed deposit rate to 7.85% for a 444-day tenure and 7.75% for a 375-day tenure to attract more deposits. This offer, valid until September 30, 2024, makes the Utsav Fixed Deposit more attractive for customers. Other tenures under this scheme include 7.70% for 700 days and 7.55% for 300 days.
FD rate up to 8.15%: Union Bank of India launches Union Sumvridhi 333 special FD with higher interest rates
Union Sumvridhi 333: Union Bank of India has introduced Union Sumvridhi 333, a special fixed deposit with higher interest rates.
Small finance banks now going big on deposit rates
Several small finance banks have increased their fixed deposit rates to over 8% for two-year tenures, competing with major banks like SBI and HDFC Bank. This move comes as alternative investment options grow, drawing funds away from traditional deposits. Some finance companies are also offering competitive rates above 8% on fixed deposits.
Earn up to 9.5% FD rate: Seven banks offering highest 3-year fixed deposit interest rates for senior citizens
FD Rate for Senior Citizens: There are several small finance banks who are offering an FD interest rate above 9% to senior citizens for deposits worth less than Rs 3 crore. In this article we compare the interest rate offered to senior citizens by various small finance banks and then find out which bank is offering the highest rate.
Axis Bank now offers up to 7.75% FD interest rate on these tenures; check latest fixed deposit rates
Fixed deposit rates: Axis Bank has hiked its FD interest rates as of September 10, 2024. The highest interest rate offered is 7.75%. Moreover Bank of Baroda, City Union Bank, Karnataka Bank, IndusInd Bank and Bank of India have also revised the respective FD interest rates in September 2024. Read below to find out the latest FD rates.
Up to 8.85% FD interest rate: Two banks special limited period FDs with higher interest rates launched this week
In the month of August many banks have revised their fixed deposit interest rates, while some banks such as RBL Bank, Federal Bank have introduced special limited period fixed deposit with higher interest rates. Let us look at the details of the special FDs and their interest rates.
Nifty hovering@25K: Should you start reducing allocation to ELSS mutual funds?
Nifty is struggling to maintain its position at 25K, leading investors in ELSS MFs to consider trimming their portfolios. Despite recent low-key performance, experts advise maintaining a long-term investment strategy. ELSS funds have historically provided strong returns and tax benefits under Section 80C of the Income Tax Act.
Old vs new investments: Should you invest in the latest innovations in personal finance and investing?
The oversimplification of complex financial concepts into catchy posts or tweets can lead to dangerous misconceptions. The key point is that the allure of ‘new’ and ‘innovative’ investment options should not overshadow the importance of basic investment principles, risk assessment, and value of diversification.
Financial planning for child’s education: Where to invest, education loans, insurance
The financial commitment of planning for a child's education is significant for parents. Beginning the planning process early is essential.
Earn up to 8.85% FD rate: RBL Bank launches 'Vijay Fixed Deposits'; check details
RBL Bank has launched a special fixed deposit termed as 'Vijay Fixed Deposits'. It has been designed to show appreciation for our military men. This limited-period offer pays tribute to the courage and sacrifices of our brave soldiers while providing exceptional financial benefits.
Bank of Baroda revises FD interest rates; earn up to 7.9% fixed deposit rates
Several banks revised their fixed deposit interest rates in August. Bank of Baroda has revised fixed deposit interest rates for amounts below Rs 3 crore. The new rates are effective from August 13, 2024, as per the Bank of Baroda website.
FD interest rate up to 8.25%: IndusInd Bank revises fixed deposit rates
IndusInd Bank has revised the interest rates on fixed deposits (FDs) under Rs 3 crore. According to the bank's official website, the new FD rates are effective from September 7, 2024.
FD interest rate up to 7.8%: Bank of Baroda revises fixed deposit rates
Bank of Baroda has revised fixed deposit interest rates for amounts below Rs 3 crore. The new rates are effective from September 5, 2024, as per the Bank of Baroda website.
Earn up to 8.1% FD interest rate: These four banks have revised fixed deposit rates in September 2024
Earn up to 8.1% FD interest rate: Some banks have revised the interest rates for their fixed deposit (FD) accounts for deposits less than Rs 3 crore, which will be in effect from September 2024. Let's examine the fixed deposit interest rates that apply to both regular customers and senior citizens.
ED attaches Rs 10 lakh FD of accused in NEET paper leak case
The Enforcement Directorate has attached a ₹10 lakh fixed deposit of an accused in the NEET question paper leak case. The probe, initiated under the Prevention of Money Laundering Act, follows a CBI FIR. The Supreme Court recently emphasized maintaining high standards in conducting exams like NEET.
FD rate up to 8.25%: Which bank is offering highest interest rate on one-year fixed deposits? Check full list
If you wish to earn extra income by investing in fixed deposits, you have numerous choices. The length of time you can deposit money varies from seven days to 10 years, and the interest rate also varies depending on the tenure.
Fixed deposit interest rate up to 7.85%: Last date to invest in these special FDs with higher rates is September 30
Special FDs deadline:It's important to remember that the deadline for the special fixed deposit (FD) programs provided by banks like the State Bank of India, IDBI, Indian Bank, Punjab, and Sindh Bank is September 30, 2024.
Earn up to 7.9% FD rate: Bank of India launches new FD tenure, Star Dhan Vriddhi, with higher interest fixed deposit rates
After the revision, the bank will offer FD interest rates between 3% and 7.25% for tenures between 7 days to 10 years for deposits of less than Rs 3 crore for general citizens.
PNB hikes FD interest rates by up to 25 bps; now earn up to 8.05% fixed deposit rate
Punjab National Bank (PNB) FD rate: State owned PNB has increased its FD rates by up to 25 basis points on four different time periods. The highest interest rate is being offered to super senior citizens at 8.05%. Apart from this PNB has also increased its MCLR rates. Read here to know more about FD rates.
Bank of India revises FD interest rates: Offers highest fixed deposit interest rate of 7.95% to these investors
After the revision, Bank of India offers interest rates from 3% to 7.30% for fixed deposits, as per the official website of Bank of India. The new rates are applicable from August 1, 2024.
Interest, income from grants must be credited back to FCRA account: MHA
The Ministry of Home Affairs has instructed NGOs that interest income from foreign contributions must be credited to FCRA utilisation accounts and not diverted elsewhere. This is in line with FCRA Act, 2010, which mandates non-speculative use and audited registers. Foreign funds must go through an 'FCRA account' at SBI, main branch, New Delhi.
Explained: What is the difference between a fixed deposit and a fixed maturity plan mutual fund?
Whether you choose Fixed Deposits (FDs) or Fixed Maturity Plans (FMPs) hinges on your risk tolerance, tax situation, and investment timeframe. FDs are ideal if you prioritize safety and assured returns. If you're comfortable with some risk for potentially higher returns after taxes, particularly over the long haul, FMPs could be a more suitable choice.
Top four investment options for senior citizens for monthly income during retirement, earn up to 9.5% return
Senior citizen investment options: Below, you'll find a compilation of four investment opportunities tailored for senior citizens to help them generate reliable monthly income during their retirement years. The objective is to assemble a retirement portfolio that strategically incorporates these investment options.
Up to 8.75% FD interest rate: Public sector vs private banks; where can you earn highest fixed deposit rate now?
Highest FD interest rates: You are guaranteed to receive a fixed return on your investments in fixed deposits, regardless of market fluctuations. The interest rate on fixed deposits can differ based on factors such as the bank, age, duration, and amount invested.
Deposit growth is top issue for Indian lenders: Federal Bank
Indian banks struggled with deposit growth as customers explored diverse investment options. Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das emphasized the need for banks to innovate. Federal Bank reported a balanced increase in deposits and credits, each by 20% annually, but potential new RBI rules could impact lending.
From transferring stocks to gifting mutual funds, 5 ways to secure your sister’s future this Raksha Bandhan
Gifting financial instruments such as stocks, mutual funds, gold, cash, and fixed deposits were highlighted as great ways to secure a sister's future during Raksha Bandhan. These gifts offer various benefits, including tax advantages and potential appreciation. The article also explained how to transfer shares online and offline, along with utilizing platforms like Zerodha for gifting securities.
New capital gains taxation rules: Investors can pick assets purely on merit rather than to optimise tax outgo
After the recent budgetary changes, you can build your investment portfolio without being dictated by tax gains.
Tax-saving tip: How opting for NPS benefit from employer can reduce tax outgo by Rs 42,000
Sudhir Kaushik of TaxSpanner.com tells readers how they can optimise their tax by rejigging their incomes and investments.
FD interest rate of up to 8%: List of banks offering best interest rates on 5-year senior citizen FDs
FD interest rate: Senior citizens (individuals aged above 60 years) can invest in FDs maturing in five years. There are private banks who offers up to 8% FD interest rate to senior citizens. Read below to get the full list of the top private banks offering good interest rates on FD.
Get up to 8.5% FD interest rate, 8% on savings accounts: Latest Bandhan Bank interest rates on deposits
Bandhan Bank has revised its fixed deposit interest rates for retail deposits of up to Rs 3 crore, according to the bank website. The revised FD rates are effective from August 7, 2024.
FD interest rate up to 8.75%: These 5 banks have revised fixed deposit rates with effect from July 1
FD interest rates in July 2024: Many banks have revised their fixed deposit interest rates effective July 1, 2024 for amounts below Rs 3 crore. Note that some banks have updated the date and rates remain the same. Check which bank offers the highest interest rates after the revision.
