#bank of india fd interest rates 2022 | Explore Tumblr Posts and Blogs

poonamranius · 2 years

Text

Bank FD vs Time Deposit Scheme: मौजूदा समय में कहां करें निवेश? ब्याज दरों की तुलना के ज़रिए लें फैसला

Bank FD vs Time Deposit Scheme: हाल ही में कुछ बैंकों ने फिक्स्ड डिपॉजिट (FD) पर ब्याज दरों में इजाफा किया है, जिसमें पंजाब नेशनल बैंक (PNB), HDFC बैंक और ICICI बैंक शामिल हैं. Bank FD vs Time Deposit Scheme: मौजूदा समय में कहां करें निवेश? ब्याज दरों की तुलना के ज़रिए लें फैसला Bank FD vs Time Deposit Scheme: हाल ही में कुछ बैंकों ने फिक्स्ड डिपॉजिट (FD) पर ब्याज दरों में इजाफा किया है. इनमें…

View On WordPress

0 notes

theechudar · 1 year

Text

Banks Offering Higher Fixed Deposit Rates After RBI’s Repo Rate Revision

Last Updated: January 12, 2023, 18:44 IST This is the 5th consecutive repo rate hike since May last year. RBI, in the latest revision, hiked the repo rate by 35 basis points, taking it to 6.25 per cent from 5.9 per cent Fixed deposit (FD) interest rates have shown an upward trend due to multiple repo rates announced by the Reserve Bank of India since May 2022. RBI, in the latest revision,…

View On WordPress

0 notes

thunderrabby-blog · 1 year

Text

FD Interest Rates: SBI vs HDFC vs ICICI vs Kotak vs Axis

Check out the latest (Dec 2022) FD interest rates offered by leading banks in India for general citizens for below Rs. 2 crore #Interest #Rates #SBI #HDFC #ICICI #Kotak #Axis

View On WordPress

0 notes

rickztalk · 1 year

Text

FD Interest Rates: SBI vs HDFC vs ICICI vs Kotak vs Axis

Check out the latest (Dec 2022) FD interest rates offered by leading banks in India for general citizens for below Rs. 2 crore #Interest #Rates #SBI #HDFC #ICICI #Kotak #Axis

View On WordPress

0 notes

indiafrontline123 · 1 year

Text

HSBC India raises interest rates on FDs; senior citizens earn 7.50% on select tenure

For domestic fixed deposits under Rs 2 crore, HSBC India has raised the interest rate. The revised rates took effect on December 19, 2022, according to the bank’s official website.

0 notes

new-haryanvi-ragni · 1 year

Text

Good news! SBI hikes FD rates, new rates applicable from today 13 December –Check latest SBI FD rates 2022

SBI website has announced the “Revision in Interest Rates On Retail Domestic term deposits (Below Rs. 2 crore) interest rates revised w.e.f. 13.12.2022”. source https://zeenews.india.com/personal-finance/good-news-for-sbi-customers-state-bank-of-india-hikes-fd-rates-new-rates-applicable-from-today-13-december-check-latest-sbi-fd-rates-2022-2547949.html

View On WordPress

0 notes

rk82199 · 2 years

Text

This fixed-rate deposit (FD) with an interest rate of up to 8.5 percent expires on November 30. See the return calculator and other important information.

From prior quarters, the Reserve Bank of India raised the repo rate in tranches. Financial institutions start to do this by raising the interest rate on FDs. A particular fixed deposit program was set up for its resident clients by ESAF Small Finance Bank (ESAF SFB), who did likewise. Beginning on November 1, 2022, a new fixed deposit program was implemented. The bank also altered the interest…

View On WordPress

#ESAF FDs return calculator #ESAF small finance bank fds rate #Fixed deposit #interest rate #Reserve Bank of India #return calculator

0 notes

squarwell-breakingnews · 2 years

Text

This FD offering up to 8.5 percent interest rate closing on November 30; Check return calculator, other key details

New Delhi: Reserve Bank of India increased the repo rate in tranches from previous quarters. As a result, financial institutions start increasing the interest rate on FDs. Following suit, ESAF Small Finance Bank (ESAF SFB) established a special fixed deposit scheme for its resident customers. The new fixed deposit scheme came into effect on November 1, 2022. On the same day, the bank also changed…

View On WordPress

0 notes

newssitesorg · 2 years

Text

Shock to SBI customers, bank reduced savings account interest rates, check latest rates

Highlights Apart from FD, interest rates on savings accounts increased SBI’s new rates effective from October 15, 2022 Effect of hike in repo rate by RBI New Delhi. After the increase in the repo rate by the Reserve Bank of India (RBI), banks have also started increasing the interest rates. Apart from increasing the interest rate on loans, interest rates on bank deposits have also started…

View On WordPress

0 notes

zfunds · 2 years

Text

Here are the Latest Mahindra Finance Fixed Deposit Interest Rates

If you liked what you read, then open an account today and start earning the lucrative Mahindra fixed deposit interest rates from today.

While most people open a fixed deposit account with banks, there are many that go for term deposits with NBFCs or non-bank finance companies. Why? Because often, these NBFCs offer higher interest rates. And when you are looking to earn higher FD interest, then look no further than Mahindra Finance. One of the most trusted NBFCs in the country, it offers interest rates much higher than most other term deposit offering entities in India. Owing to the high Mahindra Finance fixed deposit interest rates, more and more people are opening FD accounts with Mahindra Finance. Mentioned below are all the details you need about Mahindra Finance FD rates.

Mahindra Finance FD Rates 2022

Dhanvruddhi Cumulative Scheme: This scheme allows you to earn up to 7.40 percent interest on your term deposit of up to INR 1 crore.

Samruddhi Cumulative Scheme: With this FD scheme, you can enjoy Mahindra fixed deposit interest rates of 7.25 percent on five year deposits of up to INR 1 crore.

In addition to that, senior citizens – individuals over the age of 60 years, can earn additional Mahindra Finance fixed deposit interest rates of 0.25 percent. Moreover, employees of any Mahindra Group company can avail 0.35 percent higher fixed deposit interest rates.

Eligibility

Any individual, HUF (Hindu Undivided Family), company, association of persons, registered trust/societies, body of individuals, partnership firms, sole proprietorships, LLP, clubs, etc. can easily open a Mahindra Finance fixed deposit account. Also, since Mahindra Finance is not registered as per section 11(5) of The Income Tax Act, it is advisable that charitable trusts open Mahindra Finance term deposits at their own risk.

Loans against Fixed Deposit

You can easily take a loan against your Mahindra Finance fixed deposit. This loan can amount up to 75 percent of the total deposit amount. However, the minimum deposit amount to avail a loan is INR 5000 and the deposit must be at least three months old.

#mahindrafinancefixeddeposit

0 notes

poonamranius · 2 years

Text

Star Kisan Ghar Yojana : किसानों को घर बनाने के लिए मिलेगा 50 लाख रुपये, जानिए आवेदन प्रक्रिया

Star Kisan Ghar Yojana किसानों को घर बनाने के लिए मिलेगा 50 लाख रुपये, जानिए आवेदन प्रक्रिया : नए साल में देश के किसानों ( Farmer ) के लिए बैंक ऑफ इंडिया स्टार किसान घर योजना ( BOI Star Kisan Ghar Yojana ) द्वारा शुरू की गई एक बहुत ही लाभदायक ऋण योजना ( Loan Scheme ) के नाम से की गई है। इस योजना के माध्यम से किसानों को कम ब्याज दरों पर घर या फार्म हाउस ( Farm House ) बनाने के लिए बैंक द्वारा होम…

View On WordPress

0 notes

personal-finance-india · 1 year

Text

Top 10 Money investment ideas in India for 2023

Every investor seeks the Best Investment Ideas in India that will provide the highest return in the shortest amount of time while posing the least amount of risk. Some people invest to achieve specific investment goals, while others invest to achieve financial security.

Let's take a quick look at the top 10 money investment ideas in India for 2023, which are divided into three categories: short- term, medium-term and long-term.

Read: Family financial plan- 7 steps of Financial planning for families

Best Short Term Investment Options

Short-term objectives necessitate that investments be easily accessible.

Bank Fixed Deposits (FDs)

FDs provide fixed returns over the tenure of the investment. Profits are paid out monthly, quarterly, or annually. Annual interest rates on FDs range from 6.5% to 7%. FDs are available in a variety of tenures (7days - 10 years).

Chit Funds

A chit fund is based on a rotating savings and credit association system. Chit fund schemes can be organised by financial institutions or take place informally between friends, relatives, or neighbours.

Chit funds serve as both an investment and a borrowing tool.

Read: How Does The Money Club Mobile App Work? - The Money Club

Best Medium-Term Investment Options

Medium-term goals are those that you wish to achieve within the next three to five years.

National Savings Certificates (NSC)

The National Savings Certificate, or NSC, is a government of India post office savings product. NSC deposits mature in 5 years, with an annual interest rate of 6.8%. However, the entire amount is payable at maturity.

Read: Best Guaranteed Monthly Income Plans: 10 Monthly Income Schemes

Best Long-Term Investment Options

Your long-term investment ideas are those that you hope to complete within the next seven to ten years.

Real Estate

The real estate industry in India is among the fastest growing. Buying an apartment or a plot of land is the best investment plan in India. It functions as an asset, which is one of the best long-term investment strategies with high returns.

Direct Equity

Investing in equities is one of the best ways to build wealth for long-term goals. Direct equity funds offer higher returns than any other investment option on the market. However, direct equity is a high-risk investment option.

Gold

Gold has been regarded as a potential investment since antiquity. Many banks now offer gold coin. Gold ETFs can be used to invest in paper gold, which is less pricey.

Read: Small Savings Schemes - High Return Small Saving Schemes in India

Equity Mutual Funds

Stocks are the primary investment of equity mutual funds. These funds are managed by qualified fund managers. As a result, they only invest your money after conducting extensive research. As a result, your chances of generating profitable returns over time increases.

Public Provident Fund (PPF)

PPF is a very safe investment plan. A PPF account can be opened at any bank or post office. The invested funds are locked in for a 15-year period. Additionally, you can earn compound interest on the money that has accumulated in this investment option.

Read: What are Top 12 Alternative Investment Options in India for 2022

ULIPs

A Unit-Linked Insurance Plan (ULIP) is a life insurance and investment product. A portion of the payment goes toward insurance coverage, while the remainder is invested in market-linked securities such as shares, bonds, and a variety of other securities.

NPS

National Pension System (NPS) is a long-term retirement investment product. Its objective is to ensure people's financial security after they retire.

#Money investment ideas

0 notes

theechudar · 2 years

Text

Earn 7% Interest With These Government Bank FD Schemes

Last Updated: November 06, 2022, 10:45 IST Union Bank of India is offering an interest rate of 7 per cent on fixed deposits, maturing in 599 days. (Photo: ShutterStock) Several banks are offering an interest rate of 7 per cent or above on FDs Fixed deposits (FDs) are a great way to park your money into a long-term, low-risk scheme that provides great returns. If you fall in the lower tax slab…

View On WordPress

0 notes

scbhagat · 2 years

Text

5 Tax Saving Techniques You Need to Pay Attention to

Each year taxpayer is required to file their Income Tax Return (ITR). The Income tax return comprises the information of your annual income along with the payable tax which you require to file. Under different sections of the Income Tax Act 1961, there are some tax rebates and exemptions are being provided by the Government of India.

The key purpose for the same would encourage people to invest in a bigger way. Different ways are there which we can follow for dipping the tax outgo some of them are:

Some of the Tax saving techniques are:

1. Invest in tax-saving instruments Underneath section 80C of the income tax act, the government of India authorizes some tax deductions upon the invested amount for some instruments. It is revealed that you can claim the tax deduction up to a maximum of Rs 1.5 lakh on the investments thru in these instruments. Following are some tax-saving approaches for investment in 2022:

Public Provident Fund (PPF)

Employees’ Provident Fund (EPF)

Equity Linked Savings Scheme (ELSS)

National Pension System (NPS)

Sukanya Samriddhi Yojana (SSY)

Senior Citizen Savings Scheme (SCSS)

5 years or more Fixed Deposits (FDs)

You could not only save your tax by investing in the aforesaid schemes nevertheless also you could build your long-term financial wealth.

2. The specific tax rule In the existing times, there are two tax rules available for Indian citizens. During ITR filing you may choose either of them. But to have maximum tax savings it is vital to select suitable tax rules. A new tax rule would offer a lower tax rate however, it does not allow tax deductions. Hence, if you are looking for tax deductions under section 80C of the income tax act then you must go for the old tax rule, and if not then you may choose the new tax rule to diminish your income tax. If you are disordered about the new and old tax rules then you may take support from the online income tax calculator.

3. Health insurance can be owned for yourself and your beloved ones Buying health insurance policies for yourself along with your family will also facilitate you to save the tax. Under section 80D of the income tax act, a taxpayer can be advantage of a deduction of up to Rs 25,000 for paying the health insurance premiums for themselves and their loved ones. Beneath the same section, a senior citizen as an assessee can claim a tax deduction up to Rs 50,000. If you will pay health insurance premium for your parents then you could save an additional amount of Rs 50,000.

4. Tax benefits on home loan can be claimed If you yield a home loan from any bank or non-banking financial institution then from your taxable income you are eligible to claim the deductions with respect to your loan’s interest and principal amount. This law permits maximum deductions of Rs 2 lakhs below section 24 with reference to the home loan interest and Rs 1.5 lakhs under section 80C of the income tax with the reference to the home loan principal.

5. Filing ITR within specified timelines Everybody requires to file the Income tax return on and before 31st July of every year or the date specified by the income tax department. A penalty will be imposed if you forgot or miss or fails to file the ITR within the defined timeline. The similar would assist you to file the ITR within the due date since it is necessary for supplementary objectives, like acquiring a housing loan, applying for immigration documents, conducting high-value transactions, and others.

0 notes

finance-and-investments · 2 years

Text

Which Company Gives the Highest Rate of Interest for a Fixed Deposit?

Did you know that a Fixed Deposit (FD) is one of the few investments where you can know your returns before investing the money? Banks and financial institutions are currently lowering the interest rates on fixed deposit accounts. However, Shriram is one of the leading NBFCs (Non-Banking Financial Companies), offering the highest interest rate in India, up to 8.40% per annum. With additional benefits like special interest rates for senior citizens, your fixed deposit amount is assured to grow at a faster pace than the amount in your savings account.

This article will address the importance of interest rates, find the company that offers the highest interest rate, and help you choose the best company to open a fixed deposit in 2022.

Fixed Deposit

A fixed deposit is the most popular investment option banks and NBFCs offer to investors who want stable returns and growth at zero risk. Fixed deposit accounts are also considered a safer investment than other investments like stocks and equities because the interest rates on an FD are independent of the market conditions and do not fluctuate as in the case of stocks or equities.

A fixed deposit investment allows investors to deposit a considerable amount into an FD account for a fixed tenure at a fixed interest rate and receive the principal amount along with the compound interest at the end of maturity.

Importance of Interest Rates

Interest rates affect decisions investors make with money. They are one of the most crucial aspects of an economy and have the power to speed up or slow down an economy. Interest rates directly impact the return on savings, cost of borrowings and influence the returns of many other investments in the market.

Banks, NBFCs and other Financial Institutions charge interest rates to run a beneficial business. Interest rates on fixed deposit accounts hold a significant value to the investors because it allows them to decide their investment amount and tenure according to ever-changing interest rates.

Shriram – An NBFC that Offers Attractive Interest Rates

Shriram is the NBFC that currently offers one of the highest interest rates on a fixed deposit account, amongst other companies. Shriram understands the importance of interest rates for investors and has surpassed expectations by offering higher rates for fixed deposits in India. In addition, the increase in the interest rates is helping investors to plan their financial future with a beneficial investment portfolio. As Shriram offers a great customer experience, investors can choose the time period of their fixed deposit for which Shriram will fix a lucrative interest rate.

Shriram offers fixed deposit schemes with a maximum tenure of 5 years. While banks and other financial institutions are reducing the FD interest rates, Shriram provides an additional interest rate of 0.50% over the standard interest rate of 7.90% for senior citizens (the highest among other banks and NBFCs).

Advantages of Shriram Fixed Deposit

Shriram offers several advantages to investors to make quick and safe investment decisions. Here are a few benefits you should know before you plan your fixed deposit investment with Shriram.

Easy Liquidity – Shriram offers quick and easy liquidity options for investors in case of emergencies. But, investors are entitled to pay a small penalty during premature withdrawal from the fixed deposit account. It is always suggested to take a loan against an FD rather than breaking an FD.

Higher Returns – As Shriram currently offers a higher interest rate than all the banks and NBFCs in the country, you are assured of getting higher fixed deposit returns. Also, as the interest rates do not fluctuate based on market conditions, stating your deposit amount is safe and will grow with Shriram.

Regular Payouts – Non-cumulative fixed deposit from Shriram helps you to earn income regularly from interest payouts. You can conveniently select your interest payout period from monthly, quarterly, half-yearly and yearly.

Convenient Investment Amount – You can start a fixed deposit investment with an amount as low as Rs. 5000 and then increase the deposit in multiples of Rs. 1000 based on your convenience.

Flexible Investment Tenure – When you open a fixed deposit account online with Shriram, you can choose your investment tenure according to your financial goals. However, opening an FD account offline will restrict you with limited tenure options.

Special Interest Rate for Senior Citizens – Shriram offers a special interest rate of 0.50% for senior citizens to earn big using their retirement benefits.

With so many benefits at investors’ fingertips, Shriram is one of the best NBFCs in India to start a fixed deposit account.

Open an FD with Shriram Now!

If you are an investor who is looking to build a profitable investment portfolio at zero risk, Shriram Fixed Deposit is your choice. With the highest interest rate of up to 8.40% and regular interest payouts, you can quickly grow your wealth if you book a fixed deposit for a 5-year tenure.

Key Highlights

Did you know that a fixed deposit is one of the few investments where you can know your returns before investing the money?

Banks and financial institutions are currently lowering the interest rates on fixed deposit accounts.

Shriram is one of the leading NBFCs (Non-Banking Financial Companies) that offers the highest interest rate in India of up to 8.40% per annum.

With special interest rates for senior citizens, your fixed deposit amount is assured to grow at a faster pace than the amount in your savings account.

#fixed deposit #interest rate #senior citizens #nbfc

0 notes

snehamurali14 · 2 years

Text

How to Open a Fixed Deposit Account? Requirements of Fixed Deposit?

The financial market is flooded with investment options in 2022. As safety and guaranteed returns are the most common priority, investors choose fixed deposits over mutual funds and stocks. Considering the current uncertain economic conditions, you must stay updated about the features and benefits of an FD (Fixed Deposit) to maximize your investment.

An FD offers growth, a reasonable interest rate and guaranteed returns at zero risk. And it is a go-to investment tool for investors who lack the risk appetite. The basic process of fixed deposit is that interest is accumulated on your deposited amount over a fixed tenure. You can withdraw the maturity amount and the accrued interest at the end of your FD tenure.

What is Fixed Deposit Account?

A fixed deposit account is an easiest and safest way to invest lump sum money. The FD account is popular in 2022 because it offers a stable interest rate even if the market crashes. As COVID-19 overturned the stock markets, almost all the investors are moving from uncertain investment options to stable investments like fixed deposits. However, the fixed deposit rates may vary from banks to NBFCs (Non-Banking Financial Companies)

Features of Fixed Deposit

Before opening a fixed deposit account, you must know all the features and details behind a fixed deposit account. Here are a few features that can help you understand how a fixed deposit works.

Safe Investment – All the other investment options are subject to change. Contrarily, FDs are reliable and stable throughout your investment period.

Rate of Interest – The interest rate in a fixed deposit depends on the tenure of the FD, i.e. interest rates are higher for longer tenure FD and lower for the shorter tenure.

Flexible Tenure – You can choose your FD's tenure when opening your FD account. And, you can go up to 10 years depending on the tenure available with the banks or NBFCs.

Tax Deduction – According to the Income Tax Act, 1961, interest earned on your principal amount is subject to tax deductions.

Top 5 Benefits of Fixed Deposit

Fixed deposit offers many benefits to investors in 2022. Below are a few;

Your invested principal amount is safe throughout the tenure. And there is no risk involved.

You can prearrange your interest pay-out, i.e., monthly, quarterly, half-yearly and annually or go with the lump sum amount at the maturity.

The interest rates in your fixed deposit are safe from market fluctuations.

Senior citizens are entitled to an extra interest rate on their fixed deposit accounts.

You can get a loan against your FD if you need funds in an emergency.

Requirement of a Fixed Deposit

There are a few essential requirements you have to abide by to open a fixed deposit account. Basically, every Indian citizen and an NRI (Non-Resident Indian) can book an FD in India.

Proof of Identity:

Voter ID Card

PAN Card

Aadhaar Card

Driving License issued by the Regional Transport Authority

Ration Card

Senior Citizen ID Card

Proof of Communication Address:

Utility Bills (telephone, electricity, post-paid mobile bill, or water bill)

Bank Statement with Cheque

Property Tax Bill

Post-Office Issued Identification Card or Certificate, etc.

How to Open a Fixed Deposit Account?

You can open a fixed deposit account both online and offline.

Online – Fixed Deposit Account Opening

The online process is the simplest and the quickest way to open an FD account with a bank or NBFC. However, before opening an FD account, you must use a FD calculator to find the exact maturity amount you would get at the end of your tenure. So let’s now see how to open an FD account online.

Step 1: Check out the website of the NBFC or bank where you are interested in opening your fixed deposit account.

Step 2: Login using your existing ID or create a new login ID.

Step 3: Select the option “Open FD Account”

Step 4: Add required details like your principal amount, nominee and tenure.

Step 5: Confirm your details and make the principal payment using net banking.

Step 6: Finally, down the receipt and the FD agreement for future reference.

Offline – Fixed Deposit Account Opening

You can open a fixed deposit account by walking into a bank branch. The process to open an FD account with or without an existing account is the same. All you have to do is fill out the FD application form. Then submit identity and address proof to complete your KYC and open your FD account seamlessly.

Opening an FD account is much simpler than choosing the bank or NBFC to invest your FD. Hence, do your research with various banks and NBFCs by comparing interest rates and flexible tenure. Then, make a decision based on your convenience.

Open a Fixed Deposit Now!

Nowadays, from banks, NBFCs to post offices offer fixed deposit facilities. But the clear winner is an NBFC because it provides India's best-fixed deposit rates. Now that you understand how to open a fixed deposit account book an FD with Shriram and start your investment journey towards success.

#bookanfd #nbfc #fixeddeposit #fd #fdscheme #investment #savingscheme #depositscheme #highestfdinterestrate #longterminvestment

0 notes