Fixed Deposit
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.
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.
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.
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 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 rate up to 7.4%: List of PSU banks offering highest FD interest rates in August 2024
Top bank FDs: Banks modified the interest rates for fixed deposits in August. Union Bank, Bank of India, Punjab National Bank, and others made changes. Here's a compilation of public sector banks with the most competitive FD interest rates in August 2024.
Allow indexation benefits for savings such as stocks, fixed deposits: Congress to govt
The Congress has criticized the government's budget proposal to offer two tax rate options for long-term capital gains (LTCG) on properties, calling for indexation benefits for all forms of savings. The party argued that the changes unfairly burden the middle class and highlighted widespread protests and a campaign to reinstate indexation.
Credit on UPI touched ₹10,000 crore, says NPCI CEO Dilip Asbe
Credit card transactions through UPI have hit Rs. 10,000 crore, with Rs. 100-200 crore spent via credit lines, according to NPCI. ICICI Bank leads in disbursing these pre-approved loans. Despite slow growth in credit lines, banks aim to attract new customers by providing small loans against fixed deposits.
DBS Bank India launches exclusive banking program for senior citizens
DBS Bank India introduced ‘DBS Golden Circle’, a priority banking initiative for senior citizens, providing attractive interest rates on savings and fixed deposits, cyber insurance, and several other benefits. The program aims to secure income in old age, offering flexibility in accessing funds and enhancing the overall banking experience for those aged 60 and above.
ICICI Bank hikes FD interest rates by up to 5 bps; offers highest interest fixed deposit rate of 7.8%
The bank offers the highest interest rate of 7.80% for senior citizens. For individuals, the highest interest rate on FDs can go up to 7.25%.
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.
Banks may offer small loans on UPI against FDs
Private banks targeted new-to-bank customers for credit on UPI with fixed deposits as collateral. With the upcoming launch of credit-line-on-UPI by NPCI, banks aimed to cost-efficiently provide small-ticket loans to customers lacking credit history. Collaborations with NBFCs or fintechs were also explored to enhance product distribution.
Govt to allow up to 4 nominees per deposit account
On Friday, the Union Cabinet approved several amendments to banking laws aimed at addressing unclaimed deposits and improving customer ease. Key changes include increasing the number of nominees per deposit account to up to four and introducing "successive and simultaneous" nominations, which will help joint account holders and heirs access funds after an account holder's death.
Earn up to 7.9% FD rate: 5 banks revise fixed deposit interest rates in August 2024
Fixed deposit Rates Hike: FD rates have been revised by various banks like Punjab National Bank, Federal Bank, Bank of India, Karnataka Bank and Union Bank of India. Moreover, PNB has increased the FD rates by up to 25 basis points. All of these FD interest rates are applicable for an FD amount below Rs 3 crore.
FD rate up to 8.6%: This private bank revises interest rates on fixed deposits
RBL Bank has revised the interest rates of fixed deposits for amounts below Rs 3 crore. The revised FD interest rates are effective from July 29, 2024. The bank has also revised savings account interest rates, and the new rates are effective July 1, 2024.
FD interest rate up to 7.95%: Punjab and Sind Bank extends last date of this special FD with higher interest rate
Punjab and Sind Bank (PSB), a public sector bank, has extended the last date of its special fixed deposit (FD) by 222 days, 333 days, and 444 days from June 30, 2024. Punjab and Sind Bank has revised their fixed deposit (FD) rates with effective July 1, 2024.
Up to 8% FD rate: SBI Amrit Vrishti FD interest rate vs other big banks’ 400-day fixed deposits
Latest FD interest rate: State Bank of India (SBI) has recently unveiled a special fixed deposit (FD) called SBI Amrit Vrishti, which provides elevated interest rates for a limited period. Let's compare the interest rates for SBI Amrit Vrishti FD with those offered by other banks such as PNB, Canara, Bank of Baroda, and P&S Bank for the same duration.
