alt="curv">
Banks pay interest on term deposits based on the period of deposits and normally pay higher interest for longer term deposits.
Read more interesting news from around the globe with Wealth Doctor App
No proposal to hike FDI limit in PSBs: Subhash Chandra Garg
Tuesday, May 1, 2018, 5:33 PM
Putting to rest speculations on raising FDI limit in public sector banks, Economic Affairs Secretary Subhash Chandra Garg said there is no such proposal and also ruled out their privatization. "There is no such proposal for relaxing FDI limit (in public sector banks)," Garg told PTI in an interview. Currently, 20 percent foreign investment is permitted in PSU banks under government approval route.
HDFC Bank raises FD rates by 10-100 bps for various tenures
Monday, April 30, 2018, 9:38 AM
HDFC Bank Ltd has increased rates for fixed deposits (FDs) below Rs1 crore for most tenures above 1 year, in the range of 10-100 basis points (bps). One bps is one-hundredth of a percentage point. With this, the highest rate for non-bulk FDs (less than Rs1 crore) from HDFC Bank with a tenure of 1 year 17 days to 5 years has reached 7%.
HDFC Bank hikes deposit rates by 1 percent for select tenures
Thursday, April 26, 2018, 2:37 PM
Taking a cue from the upward trajectory in the benchmark government bond yield over the past few days, HDFC Bank has hiked interest rates on its fixed deposits (FD) for select tenures under Rs 1 crore. With this latest hike, HDFC Banks FDs will now earn higher interest compared with the countrys largest lender, State Bank of India (SBI).
Oxxy announces Rs.11,000 FD for every newborn girl
Friday, April 20, 2018, 2:58 PM
In a bid to bridge gender inequality, one of Indias largest healthcare network, Oxxy has announced to give a fixed deposit worth Rs 11,000 to every registered newborn girl to help fund her education or professional goals. "This is irrespective of the religion, social status or geographical location of the parents," Oxxy said in a statement.
SBI hikes interest rates for fixed deposits across tenures
Wednesday, March 28, 2018, 10:25 PM
The State Bank of India on Wednesday raised interest rates on fixed deposits across various tenures by 10-25 basis points. On deposits of less than Rs 1 crore for a tenure of two to three years, the interest rate has been raised to 6.60 percent from 6.50 percent, according to the bank's website.
SBI hikes interest rates on fixed deposits above two years
Wednesday, March 28, 2018, 2:37 PM
State Bank of India (SBI), the country's largest lender, has hiked interest rates on fixed deposits (FDs) across various tenures by 10-25 basis points, effective from today. A basis point (bps) is one-hundredth of a percentage. According to the bank's website, it has hiked rates for tenures ranging from two years to 10 years and will now earn between 6.6 percent and 6.75 percent.
SBI revises deposit rates for various tenors by up to 0.75%
Wednesday, February 28, 2018, 4:37 PM
For retail deposits, below Rs.1 crore, rates have been increased by up to 0.50%. Deposits maturing in 1yr to less than 2 yrs, rates have been raised by 0.15 % - 6.40 % from 6.25 % earlier. For 2 yrs to10 yrs have been changed by 0.50 % - 6.50 % from 6%. For Rs.1 crore - Rs.10 crore deposits rates raised by 0.50%.
NRI deposits in Kerala increase by 12% in 2016-17
Thursday, February 8, 2018, 2:46 PM
The inflow of NRI deposits to Kerala increased by 12 percent during 2016-17 and stood at Rs 1,52,348 crore as of March 2017. Total NRI deposits in public sector banks as of March 2017 was Rs 83,855 crore and Rs 68,493 crore in private sector banks, according to the Economic review 2017 tabled in the state assembly recently.
Bajaj Finserv offers best interest rate on fixed deposits
Wednesday, February 7, 2018, 8:30 AM
Bajaj Finserv through its lending and investment arm Bajaj Finance Ltd is offering best rate of interest on fixed deposit to senior citizen of 8.20 percent for a tenure of 60 months. Company is also offering an interest rate of 8.10 percent to its existing customer on cumulative FD for the same tenure.
SBI Raises Interest Rates On Fixed Deposits
Wednesday, January 31, 2018, 4:28 PM
The SBI raised the interest rates on FDs amounting to Rs.1-crore and above as it prepares to raise the lending game after the government strengthened it with capital investment and the trauma of bad loans eased. SBI follows private sector lender Axis Bank, which raised deposit rates marginally last month in the first indication of rates hardening in the system as economic activity accelerates.
Savings a/c not must for PO investments till Apr 1
Thursday, January 18, 2018, 7:26 PM
Investors of post office small savings products can breathe a short sigh of relief as the government has extended the deadline to open a savings account. On January-12, the Department of Posts had issued a notice to post offices stating that the mandatory opening of a post office savings account while investing in small savings schemes has to be implemented only from April 1.
Paytm Bank customers can now avail high-return fixed deposits
Monday, January 8, 2018, 4:56 PM
Digital payments platform Paytm Payments Bank on Monday announced its partnership with IndusInd Bank to introduce a first-of-its-kind facility to create a fixed deposit when the balance of a customer's account exceeds Rs one lakh, at the end of the day. The facility allows Paytm Payments Bank customers' to redeem their deposits instantly, anytime without paying any pre-closure or miscellaneous charges and can earn up to 6.85% annual interest.
Paytm Payments Bank, IndusInd tie-up for FD facility
Saturday, January 6, 2018, 3:26 PM
Paytm Payments Bank today said it has partnered Induslnd Bank to introduce a facility to create a fixed deposit when the customer balance exceeds Rs 1 lakh at the end of day. Paytm Payments Bank customers can redeem their deposits instantly, anytime without paying any pre-closure or miscellaneous charges and can earn up to 6.85 percent annual interest, the company said in a statement.
OBC hikes interest rates on FCNR accounts
Thursday, January 4, 2018, 5:22 PM
Oriental Bank of Commerce today said it has hiked interest rates for deposits in foreign currency non-resident (FCNR) accounts. The bank has revised the interest rates on FCNR (Banks) deposits with effect from January 4, 2018, it said in a statement. For the USD FCNR (B) deposits of one year and less than two years, the interest rate has been revised upwards to 3.06% from existing 2.78%.
PNB raises bulk deposit rate by 0.5%
Thursday, November 30, 2017, 5:27 PM
Following the footsteps of the country’s largest lender SBI, Punjab National Bank (PNB) today raised the interest rate on bulk deposit of over Rs 1 crore by 0.5 percent. The rate hike comes days ahead of RBI’s fifth bi-monthly policy on December 6. Reserve Bank of India (RBI) in its last policy kept interest rate unchanged at 6 percent.
