Fri, Jan 03, 2025
Compare SIP and FD to determine the better option for investing Rs 8,00,000 over 5 years. Understand returns, risks and benefits.
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Tue, Dec 31, 2024
A 3-year Fixed Deposit (FD) can be a choice for people who don’t need immediate returns but want them within a few years. It also offers an option for monthly income for 3 years if selected. Before investing, it’s important to compare interest rates banks offer, including smaller ones. Here, we’ll compare the interest rates of 3-year FDs from State Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda (BoB) to see how much Rs 8 lakh will grow for both regular investors and senior citizens.
Wed, Dec 18, 2024
State Bank of India (SBI) provides 7.25 per cent interest on 444 days - Amrit Vrishti FD scheme to general citizens while the bank gives 6.80 per cent, 6.75 per cent and 6.50 per cent interest rates on 1-year, 3-year and 5-year FDs.
Mon, Jul 08, 2024
Unlike market-linked investments, FDs are not subject to market volatility, providing a reliable and steady return. This makes them an ideal choice for risk-averse investors or those looking to park their funds safely while earning a higher interest rate compared to regular savings accounts.
Wed, Jul 03, 2024
FDs provide income certainty and capital protection, making them especially appealing to new and conservative investors. These features also make FDs an ideal choice for achieving short-term financial goals and managing emergency and post-retirement funds. Here are some of the highest interest rates currently offered by SBI, PNB, Bank of Baroda, Canara, HFDC bank, ICICI bank and Axis bank.
Tue, Jul 02, 2024
Senior citizens typically receive an additional interest rate of 50 basis points (bps) over regular FD rates, provided they are resident depositors. Below are the indicative FD rates for senior citizens across different tenures at select banks:
Fri, Jun 28, 2024
Other than bank fixed deposits, investors can consider parking corpus in low duration funds for better and inflation-beating returns.
SBI Senior Citizen FD Interest Rates: When you cross the retirement age, what may you need to run your daily expenses? It is most likely self-reliance, where you don't have to ask for money for your old-age expenses.
Mon, Jun 17, 2024
From Senior Citizen Savings Scheme (SCSS) to Monthly Income Scheme (MIS), here’s a look at the top 7 schemes currently offering the highest returns, along with their interest rates, investment limits, eligibility criteria, and other essential details.
Wed, Jun 12, 2024
A fixed deposit (FD) involves depositing a lump sum of money at a fixed interest rate for a predetermined duration, ensuring assured returns. Here are the current fixed deposit rates for the State Bank of India (SBI), Punjab National Bank (PNB), Canara Bank, HDFC Bank, and ICICI Bank:
Tue, Jun 11, 2024
SBI 5-year tax saver FD gives a guaranteed return and tax exemption on deposits. One can get tax relaxation of up to Rs 1.50 lakh on deposits in a financial year in the SBI FD scheme. The FD has a lock-in period of five years.
Mon, Jun 10, 2024
Seniors have the flexibility to withdraw interest at their convenience, be it monthly, quarterly, half-yearly, or annually, providing a reliable source of income to cover expenses and attain financial independence in their later years. Major banks in India actively promote FD investments among seniors, offering them preferential interest rates compared to the general populace. Institutions such as the State Bank of India (SBI), Punjab National Bank (PNB), Canara Bank, HDFC Bank, and ICICI Bank are among those extending higher interest rates to senior citizens.
Fri, Jun 07, 2024
SBI Senior Citizen FD Interest Rates: Senior citizens prefer a guaranteed return scheme where their money is not stuck and they get an income stream, which makes them financially independent. Fixed Deposit schemes (FDs) fit into their scheme of things. Senior citizens get annual interest on their deposits. They can get this interest monthly, quarterly, half-yearly, or yearly, according to their requirements for money.
Fri, May 31, 2024
FDs may be non-market-linked and may not have returns as high as one may get in equities and mutual funds, but a steady income from them in the form of a return gives senior citizens mental peace. Moreover, they don't have to depend on others to meet their monthly expenses. The 5-year FD also provides benefit under Section 80C of the Income Tax Act.
Thu, May 30, 2024
In its circular, the regulator said that units of growth plan of overnight mutual fund schemes would be accepted as cash equivalent by CCs with a haircut of 5 percent and for other plans of overnight mutual fund schemes, the hair cut of 10 percent would continue to be applicable.
Mon, May 27, 2024
Fitch Ratings says, the high dividend by RBI could even lower FD below the target. " The larger-than-expected Reserve Bank of India (RBI) dividend to the government should help to ensure the 5.1 per cent of GDP deficit target for the fiscal year ending March 2025 (FY25) will be met and could be used to lower the deficit beyond the current target." says Fitch Ratings.
Wed, May 15, 2024
For State Bank of India (SBI) FDs of 211 days to less than 1 year, the new rate for general public has been increased from 6 per cent to 6.25 per cent, while senior citizens will get an interest rate of 6.75 per cent instead of 6.50 per cent in the same category.
SBI hikes fixed deposit rates: State Bank of India, the country's largest lender, has increased its fixed deposit (FD) interest rates in select maturities. The hike ranges from 0.25 per cent to 0.75 per cent, which means you are going to get more benefits on deposits.
Fri, May 10, 2024
The majority of senior citizens are keen on a guaranteed return. It may not be quite high, but it should be regular as it helps them meet their monthly expenditure. Secondly, it also gives them the financial freedom to not depend on others.
Fri, May 03, 2024
Investors also get an income tax exemption on deposits up to Rs 1.50 lakh in five-year FDs.
The five-year FD provides a tax exemption of up to Rs 1.50 lakh on deposits under Section 80C of the Income Tax Act. On the other hand, mutual funds are market-linked programmes where funds invest their money in equities, debts, corporate bonds, and government securities.
Fri, Apr 26, 2024
A lot of senior citizens want guaranteed income on their investments. That's why they don't want to invest their money in market-linked scheme. SBI fixed deposit (FD) schemes are popular among senior citizens as these investment plans give them some extra interest rate than they provide to general citizens.
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