Now borrowers will compensate for higher provisioning on personal loans/credit cards.
The bank raised the interest rates on Non Resident External rupee deposits of one year to less than 2 years to 3.08 per cent from 2.49 per cent, two years to less than three years to 3.18 per cent from 2.5 per cent and three to five years to 3.45 per cent from 2.81 per cent. Similar hikes have been made in Foreign Currency Non Resident deposits held in dollars, pound sterling, Euro, Australian dollar, Canadian Dollar and Yen.
While EPF rewards patience and compounds your money, inflation decides how far your money really goes.
For NRE (Rupee) deposits for a duration of one year to less than two years, the rate has been increased to 4.92 per cent from the earlier 4.17 per cent, a press release issued here said. For two years to less than three years and three years to five years, the rate has been increased to 4.41 per cent from 3.66 per cent and 4.89 per cent from the earlier 4.14 per cent, respectively, the release said.
Consequently, the reverse repo rate under the LAF will remain unchanged at 7.5 per cent and the marginal standing facility (MSF) rate at 9.5 per cent.
"As long as the global window is open, growth will happen and interest rates will remain stable," ICICI Bank CEO K V Kamath said on Monday.\n\n
Finance Minister Jaswant Singh said on Tuesday that his ministry was considering offering senior citizens interest rates that are higher than market rates.
Part of a focus on retail advances, as corporate demand remains subdued; could reverse if RBI raises repo next month
World manufacturing expansion slowed to 5.2 per cent in the second quarter of 2011 year-on-year from 7.5 per cent in the first quarter.
The Reserve Bank of India (RBI) unexpectedly kept the country's policy interest rate on hold on Wednesday, despite calling current inflation too high, citing the prospect of easing retail prices and its concerns about the weak domestic economy.
State Bank of India has hiked the interest rates offered on non-resident Indian deposits with effect from Friday.
For high networth individuals, IRFs could be a good hedge against loans or existing fixed deposits.
The Central Board of Trustees of Employees Provident Fund is likely to defer a decision on interest rate to be given to its more that 4 crore (40 million) employees this fiscal.
Bankers have requested RBI to keep interest rates stable this fiscal, in lieu of sufficient liquidity in the system.
Egypt, Pakistan, Saudi Arabia and Turkey met in Islamabad in what analysts say is the formal opening of a new diplomatic formation that could reshape the post-war regional order. Their immediate goal is a ceasefire; their larger ambition is to ensure that neither Iran nor Israel emerges from this war in a dominant position. Pakistan's foreign minister then flew directly to Beijing and mooted a Chinese role as guarantor of any eventual agreement. Prem Panicker continues his must read daily blog on the Gulf War.
Reserve Bank will hold its first bi-monthly monetary policy review for 2016-17 on Tuesday.
State debt is rising because revenues are disappointingly weak. Ten states have debt ratios exceeding 30 per cent. In 2023-2024, states were borrowing simply to meet day-to-day expenses, points out Debashis Basu.
Aiden Markram and Mitchell Santner's individual performances could potentially decide the outcome of the T20 World Cup semi-final on Wednesday.
Attractive investment options available in the current market for retail investors.
RBI retained the GDP growth for the financial year 2018-19 at 7.4 per cent.
India and South Africa will face off in their opening Super Eight match of the T20 World Cup. The match will test India's batting line-up against South Africa's formidable bowling attack.
Retail inflation inched up to 0.71 per cent in November on rising prices of vegetables, protein-rich items, and fuel, government data showed on Friday. The consumer price index (CPI)-based retail inflation had fallen to a record low of 0.25 per cent in October, mainly due to lower prices helped by GST rate cuts and a favourable base.
The apex bank in its monetary policy for 2010-11 hiked the repo and the reverse repo to 5.25 per cent and 3.75 per cent, respectively, and the CRR to 6 per cent.
The Bank of Japan on Friday hiked interest rates from virtually zero (0.069 per cent) to 0.25 per cent.
Punjab National Bank on Monday reduced the interest rates on housing loans. Under the floating option, 8% interest will be charged on loans repayable in 5 years, 8.75% for 5-10 years, 9.25% for 10-20 years and 9.75% for 20-25 years.
BSE Realty, Capital Goods and Consumer Durables indices were down by 3% each.
In his book, former governor Subbarao says Chidambaram, Pranab were piqued by his tight rate policy.
Foreign portfolio investors have started 2026 on a cautious note, extending their selling streak from last year by withdrawing Rs 7,608 crore ($846 million) from Indian equities in the first two trading sessions of January. The withdrawal of funds followed the largest outflow of Rs 1.66 lakh crore ($18.9 billion) recorded in 2025, triggered by volatile currency movements, global trade tensions and concerns over potential US tariffs, and stretched market valuations.
'The next phase of India's IPO cycle will be defined by quality, pricing discipline and investor selectivity.'
Canara Bank has reduced the floating and fixed home loan interest rates, as also rates of auto loans and other personal loan products, with effect from Wednesday.
Real estate developers and home buyers will feel the pinch of higher interest rates, which could slow down home sales. Higher interest will push up monthly installments for home loans for existing as well as new home buyers.
Here's unlocking the real story behind your EPF's 8.25% interest and what it truly means for your retirement kitty.
While freeing interest rates on savings bank accounts, the RBI has said that banks will have to offer a uniform interest rate on deposits of up to Rs 100,000.
Finance Minister Nirmala Sitharaman's biggest challenge will be to find a new growth driver, particularly against the backdrop of a global economy ravaged by heightened uncertainty and fragmentation, financial markets on a precipice, and global commodity prices on a continued uptrend.
The government on Wednesday said interest rates on post office savings schemes, except the PPF, will remain fixed throughout the term of the scheme.
The automobile and auto-ancillary sector is expected to show strong Q3FY26 results, aided by festival-led demand, rationalisation in goods and services tax (GST) rates for select categories of vehicles, easing interest rates, and improving rural sentiment.
To boost the economy, the RBI has taken a slew of measures since September last year, including cuts in the cash reserve ratio and short-term lending (repo) rate, to inject funds into the system and signalled a soft interest rate regime. PSU bankers' meeting is being held in the backdrop of the third quarterly review of monetary policy by the Reserve Bank of India.
