Ever since RBI slashed repo rate last month, banks have been revising their fixed deposit interest rates. After State Bank of India (SBI) and IDBI Bank, the banks which have revised their fixed deposit interest rates are Bank of Baroda (BOB) and Kotak Mahindra Bank. Now, Bank of Baroda offers an interest in the range…
Before opening a fixed deposit (FD) account with a bank, it is better to compare the interest rates offered by different lenders. Higher the interest offered, greater the income for the depositor. Someone who deposits â‚ą5 lakh in a fixed deposit (FD), an extra 50 basis point interest offered on it leads to an extra…
Fixed deposits (FDs) are considered to provide reliable, consistent long-term investment returns. They are especially beneficial for conservative investors who avoid taking risks. Certain small finance banks in India offer FD interest rates of over 9%, which is relatively higher than those of public, private, and foreign banks. Here are the latest FD rates for…
When you are planning to open a fixed deposit, it is recommended to compare the interest rates offered by different banks so that you can choose the one which offers the highest one. Typically, a long tenure fixed deposit offers a higher interest rate. Â We list out the interest rates offered on 3-year term deposits…
Hard data is supposed to be cold and impersonal but also has the capacity to evoke myriad feelings. Consider the series of national-accounts data released on 28 February: India’s gross domestic product (GDP) for the quarter from October to December 2024, second advance GDP estimates for 2024-25, first revised estimate for the previous year and…
Prior to investing in a fixed deposit, investors often compare interest offered by different banks. One might argue that most banks — more or less – offer similar, if not same, interest on their term deposits. However, one must understand that a difference of 50 basis points over a long period of time can increase…
As Reserve Bank of India (RBI) slashed repo rate by 25 basis points after a five-year gap, banks are likely to follow suit. Therefore, it won’t be long before banks start slashing interest rates they offer on fixed deposit. Meanwhile, banks have yet not cut interest rates on their deposits so far. So, if you…
As Reserve Bank of India (RBI) has cut down repo rate by 50 basis points on Friday, triggering a rate cut cycle. Now, there is an expectation that banks would bring down the fixed deposit (FD) interest rates sooner than later. So, this could be your last chance to lock your savings in fixed deposit…
As the Reserve Bank of India’s (RBI) monetary policy committee (MPC) cut repo rate by 25 basis points on Friday, it is seen as the start of interest rate cut cycle. Typically, a cut in repo rate is followed by a similar decline in interest levied on loans as well as interest rates offered on deposit rates. So,…
Fixed deposits (FDs) for super senior citizens are designed to provide steady income at a higher interest rate compared to regular FDs. Several banks provide various FD schemes for super senior citizens at varied interest rates. India’s biggest lender, State Bank of India, offers the SBI Patrons scheme for super senior citizens. Who is a…
