Page 5 - Latest Updates on Fixed Deposit
Govt collects Rs 27k cr in taxes from sr citizens on FD interest: SBI
According to the report by SBI researchers, the total amount of deposits has risen by 143 per cent in the last five years to Rs 34 lakh crore at the end of FY24 from Rs 14 lakh crore
 "Govt collects Rs 27k cr in taxes from sr citizens on FD interest: SBI")
SBI WeCare and Amrit Kalash deadlines extended to September 30: Know more
SBI WeCare, Amrit Kalash deposit schemes: Benefits, tenures explained
 "SBI WeCare and Amrit Kalash deadlines extended to September 30: Know more")
Bajaj Finance hikes fixed deposit rates for most tenures by up to 60 bps
Effective April 3, 2024, the company has increased FD rates for senior citizens by up to 60 basis points in the 25-35-month tenure and 40 basis points in the 18-24-month tenure
 "Bajaj Finance hikes fixed deposit rates for most tenures by up to 60 bps")
Axis Bank introduces digital opening of US dollar FDs for NRIs at GIFT City
Axis Bank on Tuesday announced the introduction of digital US dollar fixed deposit (FD) for NRI customers at the IFSC Banking Unit (IBU) at GIFT City, Gujarat
 "Axis Bank introduces digital opening of US dollar FDs for NRIs at GIFT City")
Safe investment option: What is a fixed deposit; how does it work
An amount deposited with a bank or financial institution must not be withdrawn prematurely
 "Safe investment option: What is a fixed deposit; how does it work")
NSC or 5-year FD? Which is the better tax-saving investment option?
TDS is deducted on the interest earned on FDs. Even though FD provides a marginally higher interest rate, due to TDS deduction, the post tax returns may be lower.
 "NSC or 5-year FD? Which is the better tax-saving investment option?")
Sikkim govt to create fixed deposits of Rs 10,800 in name of newborns
Addressing the 'Jan Bharosa Sammelan' in Soreng district, Tamang announced the 'Sikkim Sishu Samriddhi Yojana' ahead of the assembly elections in the state
 "Sikkim govt to create fixed deposits of Rs 10,800 in name of newborns")
Safe IPO investments, private jet boom: Top personal finance stories
Instead of getting carried away by hype, investors must do a rational assessment of these offerings to determine if they are better bet than sector peers already available in secondary market
 "Safe IPO investments, private jet boom: Top personal finance stories")
FDs, insurance, gold top retirement investments, MFs gain traction: Survey
According to the survey, Indian investors planning retirement favour fixed/recurring deposits, annuities/insurance, gold, and the Post Office Savings Scheme (POSS)
 "FDs, insurance, gold top retirement investments, MFs gain traction: Survey")
Rs 200 crore FD fraud: Role of Noida Authority officials under probe
A separate police inquiry into the financial fraud in which the FDs, for which money was taken from Noida Authority, were never made is underway
 "Rs 200 crore FD fraud: Role of Noida Authority officials under probe")
A snapshot of company fixed deposit rated offered by various companies
Here is how the company fixed deposit rates offered by various firms stack up
 "A snapshot of company fixed deposit rated offered by various companies")
Senior citizen saving scheme vs bank FD: What is the right strategy for you
senior citizens with an investment horizon of 5 years, who are seeking regular income at quarterly intervals and/or wishing to save tax under Section 80C would find SCSS more attractive than bank FDs
 "Senior citizen saving scheme vs bank FD: What is the right strategy for you")
Small banks vs private/PSU banks: Where should you lock your money?
Here are some key points to consider when making your decision
 "Small banks vs private/PSU banks: Where should you lock your money?")
Why spate of bank deposit rate hikes could be a thing of the past
Around 85% of the Rs 2000 notes are deposited in the bank accounts and not exchanged for smaller denominations. Thus, bank deposits are likely to increase by atleast Rs 2 lakh crore
 "Why spate of bank deposit rate hikes could be a thing of the past")
HNIs preferring fixed deposits over debt mutual funds, says report
HNIs are preferring bank FDs over the debt mutual fund following the new taxation rules for the funds that kicked in from April 1
 "HNIs preferring fixed deposits over debt mutual funds, says report")
ESAF SFB hikes FD rates, offers up to 9% returns effective from today
The interest rates at ESAF Small Finance Bank (SFB) were raised on deposits of less than Rs 2 cr
 "ESAF SFB hikes FD rates, offers up to 9% returns effective from today")
Post office saving schemes compete with bank FDs after 3 rate hikes by govt
The return on post office term deposits of two years under the small savings schemes is 6.9 per cent, the same as offered by most banks on deposits of similar maturity
 "Post office saving schemes compete with bank FDs after 3 rate hikes by govt")
Fixed deposit interest rates to go up again? RBI hits at another hike
In the bulletin, the RBI said that the Indian economy is unlikely to face any major repercussions from the ongoing global financial turmoil
 "Fixed deposit interest rates to go up again? RBI hits at another hike")
Employee union urges Bank of Maharashtra to hike rates on term deposits
Company is losing balances in savings as well as fixed deposits to competitors, it says
 "Employee union urges Bank of Maharashtra to hike rates on term deposits")
Sundaram Finance to revise interest rate on term deposits from Jan 1
The rate on 12-month deposit would be increased to 7.20%, 7.50% for a tenure of 24 months and for 36 months it would be 7.50%
 "Sundaram Finance to revise interest rate on term deposits from Jan 1")