'Try to obtain a secured personal loan or credit card by offering some collateral, such as a fixed deposit or gold.' 'Not only will this improve your eligibility, but the lender may even offer a lower interest rate.'
'There's a misconception that all Rs 1 lakh crore will be spent immediately, leading to higher consumption of FMCG goods, travel, and vehicle purchases.' 'While some of this money will go toward consumption, not all of it will.' 'The impact depends on where people deploy their savings.'
Fixed Maturity Plans earn better returns than similar-tenure fixed deposits
Retirement fund body EPFO fixed 8.15 per cent rate of interest on employees' provident fund (EPF) deposits for 2022-23 at its meeting on Tuesday. In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent in 2020-21. This was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent.
Commemorating 75 years of India's independence, SBI has launched a 75-day Utsav Deposit Scheme, offering 6.10 per cent for fixed deposits. Senior citizens will get an additional 0.50 per cent and the offer is on until October 30, SBI said.
In addition to interest rates, review the fine print for penalties and repayment terms, and select a reputable lender to avoid harsh recovery practices.
State Bank of India has fixed its benchmark prime lending rate at 10.25 per cent, 0.25 per cent below the existing PLR, which is 10.5 per cent
'At least 25 Olympic-sized swimming pools worth of plastic chewing gum gets dumped.' 'And because the way people spit it out, there's no possible way this plastic can be recycled.'
'The barbell strategy says that the best way to strike a balance between risk and reward is to invest at the extremes of the risk spectrum.'
'I've never seen Ramuji cry... even when his father passed away.' 'But after the special screening of Satya, he was crying.'
If you are running a sweetmeat shop, will you manage a dairy for milk supply or buy milk from the market? Banks are running a dairy (which has its cost for processing milk), while NBFCs are buying milk from the market, observes Tamal Bandyopadhyay.
The agency detected the fixed deposits in State Bank of India, Axis Bank and Bank of India during the questioning of several close aides of Mondal and other witnesses during its ongoing probe in the case, they said.
Top commercial banks offer 8.5-9 per cent interest rates a year on fixed deposits with maturity of 2-3 years.
With the revised interest rates, the one-year fixed deposit will attract an interest rate of 6.75 per cent as against the 7 per cent earlier
Though company fixed deposits earn you a higher rate of interest here are some pitfalls you should know before betting your money in them.
Dream11, Baazi Games, Zupee and WinZO among others are invited for the discussion with the anti-money laundering watchdog.
If the cashless request is denied, the entire cost may need to be paid for planned treatments.
'Use this money to build an emergency fund if you do not have one.'
'Building a credit history is a gradual process that requires at least 6-12 months of consistent credit activity.'
'Earlier there was no provision for considering TCS collected from the taxpayer for overall tax computation.' 'Now, credit will be given by the employer for TCS already collected to consider net tax to be deductible.'
Scarcity of space, high rentals and slow redressal procedures are all issues.
Investors should view any bounce-back in bank stocks as an opportunity to exit the pack, analysts suggested, as the worst may not be over yet. The recent quarterly results of HDFC Bank and Axis Bank disappointed the Street, triggering a marketwide selloff by foreign institutional investors, especially in banking counters. While HDFC Bank, which was the anchor for the market correction during the past week, ended 2 per cent higher amid short covering on Wednesday, Axis Bank's shares settled 3 per cent lower.
The country's two largest private sector banks ICICI Bank and HDFC Bank on Wednesday revised interest rates on fixed deposits by up to 0.50 per cent each, a week after State Bank of India reduced term deposits rates.
'We face the risk of remaining a low-income country for a very long time unless something changes in the next few years.' 'Instead of constantly talking about becoming a developed economy, we need to start fixing the problems of the economy one by one.' 'There is so much potential, and we are squandering away the opportunity.'
Union Home Minister Amit Shah, who released BJP's manifesto for the legislative assembly polls, said a committee would be constituted on UCC.
Zimbabwe batsman Brendan Taylor is facing a ban from the International Cricket Council (ICC) after admitting he received a $15,000 "deposit" for spot-fixing, though he said he was blackmailed and never went through with the arrangement.
Followed by the BSP at Rs 698.33 crore and the Congress at Rs 588.16 crore.
'Investors need to find out how the FMP's assets are distributed and ensure the investments are in high-quality names.'
The cost of deposits is on the rise, but banks can't raise interest rate on close to 60% of their loan books, points out Tamal Bandyopadhyay.
'Understand how wedding expenses fit into your overall financial situation.' 'Evaluate how different levels of spending will impact other goals like retirement, travel, or housing.'
The Central government on Friday told the Supreme Court that it has deposited with the top court Rs 10 crore paid by the republic of Italy as compensation to the families of the two Kerala fishermen who were shot dead in 2012 by two Italian marines aboard the MV Enrica Lexie ship -- an Italian flagged oil tanker -- in lieu of closure of criminal cases against the two navy personnel in India.
On scrutiny, Shield Plus has no special advantage over a fixed deposit.
The 2023 Budget set off a downtrend in the listed life insurance company stocks. The key reason was a proposal to tax income from insurance policies (other than unit-linked insurance plans or ULIPs) with a premium, or aggregate premium, of above Rs 500,000 per annum. This impacted the traditional savings profile since it affected the returns for these products.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
Fraudsters read your mind, weave convincing stories, earn your trust and then vanish with people's savings. Ramalingam Kalirajan reveals five simple tricks that cons use to steal money from you.
Even if interest rates go down, they may continue to offer better returns than fixed deposits.
Now that bank FD rates have gone up and most BAFs haven't delivered good returns, these investors are likely to be moving back to FDs, observed a senior MF distributor. The performance of BAFs in the past year has been mixed.
'Many of those who invested in NCD issues are those who traditionally put their money in fixed deposits...'
'We are confident that over the next few years the government will strike a fine balance between populist measures and growth, and manage coalition partners well.'
The government on Wednesday cut interest rates on small savings schemes, including NSC and PPF, by up to 1.1 per cent for the first quarter of 2021-22 in line with falling fixed deposit rates of banks. Interest rate on Public Provident Fund (PPF) has been reduced by 0.7 per cent to 6.4 per cent while National Savings Certificate (NSC) will now earn 0.9 per cent less at 5.9 per cent. Interest rates for small savings schemes are notified on a quarterly basis. The rates of interest on various small savings schemes for the first quarter of the financial year 2021-22 starting from April 1 has been revised, the finance ministry said in a notification.
