Thu, Jul 25, 2024
An overview of how the Auto Sweep Facility enhances savings returns without locking funds away.
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Understanding Post Office FD Rate: The Post Office Time Deposit Account (TD) is a fixed deposit scheme available at post offices across India. It offers quarterly compounding of interest with annual payouts. Currently, it offers four maturity options ranging from one to five years, with annual returns between 6.9 per cent and 7.5 per cent calculated quarterly. The account requires a minimum investment of Rs 1,000, with no upper limit, in multiples of Rs 100. For example, amounts like Rs 1,100 and Rs 9,900 are accepted, but not Rs 1,110 and Rs 9,990.
Mon, Jul 22, 2024
Here’s a look at the returns you can expect from a Rs 1,00,000 FD at SBI, PNB, Canara Bank and the Post Office.
Thu, Jul 18, 2024
If you are also planning to invest in this scheme, then here we also tell you the options of deposit schemes running in other banks. In these banks, you will get interest as much as SBI's Amrit Vrishti Scheme in just 400 days deposit scheme. At the same time, super senior citizens can get special benefits. Know the details of some such schemes here.
Tue, Jul 16, 2024
Post office FD offers 1-year, 2-year, 3-year, and 5-year FDs at different interest rates. The 5-year FD provides income tax benefits up to Rs 1.50 lakh in a financial year.
Fri, Jul 12, 2024
SBI Senior Citizen FD Scheme: The bank offers an extra interest rate to senior citizens compared to general citizens. Investment in the 5-year FD also provides tax benefits under Section 80C of the Income Tax Act, 1961, in this non-market-linked scheme.
Mon, Jul 08, 2024
Unlike market-linked investments, FDs are not subject to market volatility, providing a reliable and steady return. This makes them an ideal choice for risk-averse investors or those looking to park their funds safely while earning a higher interest rate compared to regular savings accounts.
Wed, Jul 03, 2024
FDs provide income certainty and capital protection, making them especially appealing to new and conservative investors. These features also make FDs an ideal choice for achieving short-term financial goals and managing emergency and post-retirement funds. Here are some of the highest interest rates currently offered by SBI, PNB, Bank of Baroda, Canara, HFDC bank, ICICI bank and Axis bank.
Tue, Jul 02, 2024
Senior citizens typically receive an additional interest rate of 50 basis points (bps) over regular FD rates, provided they are resident depositors. Below are the indicative FD rates for senior citizens across different tenures at select banks:
Fri, Jun 28, 2024
Other than bank fixed deposits, investors can consider parking corpus in low duration funds for better and inflation-beating returns.
SBI Senior Citizen FD Interest Rates: When you cross the retirement age, what may you need to run your daily expenses? It is most likely self-reliance, where you don't have to ask for money for your old-age expenses.
Mon, Jun 17, 2024
From Senior Citizen Savings Scheme (SCSS) to Monthly Income Scheme (MIS), here’s a look at the top 7 schemes currently offering the highest returns, along with their interest rates, investment limits, eligibility criteria, and other essential details.
Wed, Jun 12, 2024
A fixed deposit (FD) involves depositing a lump sum of money at a fixed interest rate for a predetermined duration, ensuring assured returns. Here are the current fixed deposit rates for the State Bank of India (SBI), Punjab National Bank (PNB), Canara Bank, HDFC Bank, and ICICI Bank:
Tue, Jun 11, 2024
SBI 5-year tax saver FD gives a guaranteed return and tax exemption on deposits. One can get tax relaxation of up to Rs 1.50 lakh on deposits in a financial year in the SBI FD scheme. The FD has a lock-in period of five years.
Mon, Jun 10, 2024
Seniors have the flexibility to withdraw interest at their convenience, be it monthly, quarterly, half-yearly, or annually, providing a reliable source of income to cover expenses and attain financial independence in their later years. Major banks in India actively promote FD investments among seniors, offering them preferential interest rates compared to the general populace. Institutions such as the State Bank of India (SBI), Punjab National Bank (PNB), Canara Bank, HDFC Bank, and ICICI Bank are among those extending higher interest rates to senior citizens.
Fri, Jun 07, 2024
SBI Senior Citizen FD Interest Rates: Senior citizens prefer a guaranteed return scheme where their money is not stuck and they get an income stream, which makes them financially independent. Fixed Deposit schemes (FDs) fit into their scheme of things. Senior citizens get annual interest on their deposits. They can get this interest monthly, quarterly, half-yearly, or yearly, according to their requirements for money.
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.
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