Thu, Nov 21, 2024
If you are planning for a 3-year fixed deposit (FD) but are confused about which banks to opt for. Here, you will find a comparison of the interest rates of 3-year FD from banks such as State Bank of India (SBI), Bank of Baroda (BoB), and Canara Bank. This scheme is for both general and senior citizens. Therefore, take a look and then plan accordingly.
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Thu, Nov 14, 2024
A 3-year fixed deposit (FD) can be a good option for investors who don’t want return immediately, but want it in the short term only. Or, a guaranteed option that can help them get monthly income for 3 years if they opt for it. Thus, before investing individuals must compare interest rates offered by different banks and small banks. In this context, we will compare a 3-year FD of State Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda (BoB) to find out what general and senior citizens will get after investing Rs 6 lakh in each FD.
Wed, Nov 06, 2024
Compare 1 year fixed deposit (FD) of State Bank of India (SBI), Punjab National Bank (PNB), and Central Bank to find out what will be the maturity amount on Rs 7 lakh investment for general and senior citizens.
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.
Wed, Apr 17, 2024
Banks such as State Bank of India (SBI), Bank of Baroda (BoB), ICICI Bank, HDFC Bank, Punjab National Bank (PNB) and Canara Bank offer up to 7.75% interest rate on 5-year FDs to senior citizens, as per Paisabazaar.com data.
Sat, Apr 13, 2024
5-year NSC vs 5-year FD: Ever compared how two fixed income instruments with similar annual interest rates but different compounding frequencies? Compare the Five-Year Post Office Time Deposit (fixed deposit) and the Post Office National Savings Certificates (NSC) here to understand the true power of compounding. The examples and figures may leave you with some food for thought this weekend.
Thu, Mar 21, 2024
Income Tax Saving on FD: Fixed Deposits (FDs) provide an investor guaranteed returns in the form of interest earned on deposits. One can also get tax exemption on deposits of up to Rs 1.50 lakh under Section 80C of the Income Tax Act on FDs of tenures of five years and above. The income an investor gets from FDs is tax free up to a certain limit, as per income tax rules. But over it, one needs to pay TDS. However, if one submits Form 15G and Form 15H under certain conditions, they can save their TDS from being cut. Know how-
Thu, Feb 29, 2024
5-year SBI FD vs 5-year post office FD: Did you know that money parked in a five-year fixed deposit (FD) not only grows steadily and safely but also helps you avail income tax benefits up to Rs 1.5 lakh in a financial year? This article compares two such term deposit instruments. Read on to learn more.
Fri, Feb 23, 2024
Compound interest is the interest on interest that may accelerate your rate of investment return faster than normal interest. Fixed deposits, equity mutual funds, Public Provident Fund (PPF), and National Pension System (NPS) are some of the investment options that offer compound interest. With the power of compounding, your small investment can grow manifold in the long term; your one-year interest may become more than your total investment; and you may accumulate more corpus with a smaller investment in the long run than the one with a higher investment in the short term. Read how is it possible-
Sat, Feb 10, 2024
Fixed Deposits (FDs) attract a lot of investors since they offer guaranteed returns and are not prone to market fluctuations. With the banking sector performing well for some time, a lot of lenders are offering attracting interest rates. However, if you also want to invest your lump sum amount in a FD, keep these three things in mind that can help you maximise your returns.
Sat, Jan 27, 2024
Financial experts endorse the inclusion of FD in investment portfolios, emphasising seven key features that continue to make it a top choice for many.
Fri, Jan 12, 2024
The bank said the scheme is open to all individuals including non-resident Indians and offers investors the flexibility to choose from three distinct tenors: 1,111 days, 1,777 days, and 2,222 days.
Sun, Jan 07, 2024
Banks offer slightly higher interest rates on fixed deposits (FDs) to senior citizens compared to non-senior citizens. FDs are popular among senior citizens since in old age, they need income from investment options which can give them guaranteed returns and fixed income. Since FDs are not market-linked, senior citizens opt them as they are risk-free investment options. In this write-up, know about the banks offering the highest interest rate to senior citizens on FDs.
Fri, Dec 15, 2023
The government runs a special deposit scheme for women. The scheme called Mahila Samman Savings Certificate offers good interest to women. At the same time, they can also invest in fixed deposit schemes. Know here, which scheme, FD or MSSC, can help women accumulate more wealth.
Wed, Dec 13, 2023
At present, returns on fixed deposits (FDs) are quite high since the interest rate on them are high. Now the question arises whether FD interest rates would go higher or the current levels are the highest? Know this
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