The State Bank of India has increased its fixed deposit (FD) interest rates for some of its schemes on retail deposits (up to Rs 2 crore) and bulk deposits (above Rs 2 crore). The FD rates were tweaked in the ranges from 0.25 per cent to 0.75 per cent. The new interest rates came into … Read more
When it comes to parking one’s hard-earned money into safe investment tools, fixed deposit schemes are still the most chased ones looking at the volatility in the market. As the Reserve Bank of India kept the repo rate at the same level, many banks have tweaked their fixed deposit rates to attract customers. In the … Read more
Last week, the Centre revised the interest rates applicable to three-year term deposit scheme by 10 basis points for the January-March quarter. According to a finance ministry circular, the deposit under Sukanya Samriddhi scheme would attract an interest rate of 8.2 per cent from the existing 8 per cent, while the 3-year term deposit would … Read more
The Reserve Bank of India’s (RBI’s) decision to keep the policy repo rate unchanged offers significant relief to home loan borrowers. As RBI maintains a status quo, the equated monthly installments (EMIs) are unlikely to see a surge. Borrowers who were bracing for a hike can breathe a sigh of relief. The RBI’s Monetary Policy … Read more
Feroze Azeez, Deputy CEO, Anand Rathi Private Wealth Management, says If one is going to get 8% with a triple AAA rated corporate bond and 7.4% with the Government of India, one should always choose 7.4% because in 10 years, corporates can go through whatever they have to go through. Why will you take that … Read more
NEW DELHI: India is at the fag end of the interest rate cut cycle, but the era of 10-12 per cent interest rates on fixed deposits is never going to come again. That was the message from Amitabh Chaudhry, MD and CEO of Axis Bank on Thursday. In order to cushion the impact of Covid-19, … Read more