Page 6 - Fixed Deposit Rates

Bank of Maharashtra employees' union for term deposit rate hike

Writes to management, says bank losing deposits to other lenders

PNB hikes fixed deposit rates by 50 basis points across various tenures

Punjab National Bank (PNB) on Tuesday increased the interest rate of fixed deposits across various tenures by 50 basis points or 0.5 per cent in a bid to attract deposits. Interest rates on term deposits below Rs 2 crore between one year and three years have been raised by 50 basis points to 6.75 per cent from earlier rate of 6.25 per cent, PNB said in a statement. The bank said that new rates of FDs are effective from January 1, 2023. It has also said that senior citizens will be getting an additional 50 basis points hike in interest rate of fixed deposits on any domestic deposit maturities which is worth less than Rs 2 crore. On PNB Uttam Scheme with no premature withdrawal option, the rate has been revised to 6.80 per cent from 6.30 per cent, it said. Apart from the revised interest rates, it said, the bank will continue to offer attractive interest rates 8.1 per annum for fixed deposit of 666 days.

How to lock smartly into bank FDs as rates peak over next 2-3 quarters

Consider laddering to ensure liquidity and to avoid reinvestment risk

2023 likely to be a flattish year for Indian equities: Kotak Securities

Kotak Securities sees Nifty50 at 18,385; rising FD rates could attract investment

Federal Bank increases interest rates on fixed deposits, effective Dec 18

Federal Bank says deposits with maturities between 18 months and two years will earn a maximum interest rate of 7.75 per cent from December 18 onwards

More risk in our book helps us become more agile: MD, Bajaj Allianz Life

In a Q&A, Tarun Chugh dwells on how his firm became the fastest growing in its space, recent Irdai initiatives, and the company's future plans

Sundaram Home Finance to revise interest rates on fixed deposits from Dec 1

Sundaram Home Finance would revise its interest rates on fixed deposits for trusts, individuals and senior citizens with effect from December 1, the company said on Tuesday. Accordingly, the city-headquartered firm, a wholly owned subsidiary of Sundaram Finance Ltd, would revise the rates by 50 basis points across trusts, individuals 7.15 per cent as against 6.65 per cent, senior citizens 7.50 per cent as against 7 per cent, on deposits for 12 months. The company, for senior citizens, would revise the interest rates to 7.50 per cent as against 7.35 per cent for tenures of 24 months, 7.80 per cent from 7.65 per cent (36 months) and 8 per cent from 7.90 per cent for 48 months. For Trusts, the interest rates have been increased to 7.15 per cent for 24 months earlier 7 per cent, 7.80 per cent as against 7.65 per cent for 36 months and 8 per cent for tenures of 48 months as against 7.90 per cent. The rates, for individuals other than senior citizens, have been increased to 7.15 per cent

Bajaj Finance raises interest on FDs of up to Rs 5 crore by 25 bps

Revised rates applicable on fresh deposits and renewals

A snapshot of corporate FD rates offered by various firms with details

Here is how the corporate FD rates offered by various companies stack up

Share of low-cost deposits falls as FD rates rise, banks' NIM may take hit

With RBI on monetary tightening path, liquidity has shrunk and interest rates have hardened, forcing banks to hike rates on term deposits in order to get funds for credit growth

PNB offers up to 7.85% interest rate on 600-day fixed deposit scheme

The city-based Punjab National Bank (PNB) on Friday announced a special fixed deposit scheme for 600 days, offering a higher interest rate up to 7.85 per cent per annum. This special rate of interest scheme has come to effect from October 19, 2022. "The bank is offering higher interest rates up to 7.85 per cent per annum," it said in a release. The scheme is applicable on single deposit term deposits below Rs 2 crore for senior (60 years and above) and super senior citizens (80 years and above). Bank's domestic term deposit of 600 days (callable) offers 7 per cent interest rates and 600 days (non-callable) yields 7.05 per cent per annum. Non-callable deposits are those with no option of premature withdrawal. For senior and super senior citizens, the rates range from 7.50-7.85 per cent. "Our aim is to offer the best-in-class schemes to our valuable customers and we are pleased to offer a higher interest rate to consumers so that they earn more on their saving. For further ease, o

Special FD rates, while attractive, lose the medium to long-term race

While you may begin allocating to them, keep some powder dry as rates could rise further

Bandhan Bank offers 7.5% interest rate on retail FDs for limited period

Rate applicable to both fresh deposits and renewals of up to Rs 2 crore for a tenure of 600 days, seniors to get 0.5% more

Axis Bank increases interest rates on FDs by up to 115 basis points

For deposits maturing in the next seven days to 10 years, Axis Bank is now offering interest rates that vary from 3.5% to 6.50% for the general public and from 3.5% to 7.25% for senior persons

Bank of India launches special deposit scheme; raises interest on others

Apart from the special deposit scheme, Bank of India has raised interest rate on its existing 555-days fixed deposit scheme to 6.30 per cent

State Bank of India, IDBI Bank hike retail fixed deposit rates

For 1 year to less than 2 years, SBI is offering 6.10% as compared to 5.60% earlier

Days of delivering sub-par returns may soon come to an end for debt funds

The YTM of most debt funds tops 6.5%, indicating that they can at least do better than FDs in the near future

As deposit rates rise, where should you park your money?

Central banks around the world are raising rates to suck liquidity and bring down the soaring inflation. Banks too are passing on the rates. Find out where should you park your hard-earned money

Why this is not the time to take on very long-term fixed deposit investment

For periods longer than 3 years, it is a good idea to explore debt mutual funds that offer indexation benefits and lower the tax outgo

AU Small Finance Bank hikes fixed deposits rates by 60 bps to 7.5%

AU Small Finance Bank on Wednesday said it has hiked fixed deposit rates by 60 basis points to 7.5 per cent for regular customers. Senior citizens will get an interest of 8 per cent on their fixed deposits. The increased rates have come to effect from October 10, 2022. The bank has hiked the fixed deposit rates by up to 60 basis points for retail deposits from flagship 6.9 per cent to 7.5 per cent for regular customers and 7.4 per cent to 8 per cent for senior citizens, it said in a release. The Jaipur-based small finance bank said with the hike in fixed deposit rates, it is offering one of the most competitive fixed deposit interest rates in the industry and customers can get maximum return on their investments. In the rising inflation scenario, the hike in fixed deposit rates gives the customers an opportunity, particularly senior citizens, to get inflation-beating returns from their fixed deposits, the lender added. Also, savings deposit holders of Rs 1 crore and less than Rs