Page 5 - Fixed Deposit

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)

Rs 200 crore FD fraud: Role of Noida Authority officials under probe

The Noida Authority said it has launched a probe into the alleged irregularities in the fixed deposit of Rs 200 crore of its money in a public bank, bringing under scanner the role of its finance department officials. The probe panel will submit inquiry findings to CEO Lokesh M by August 5, the authority said. 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. The irregularities surfaced in mid-June during the tenure of former CEO Ritu Maheshwari and so far five people have been arrested by the police. Close on the heels of the FD fraud case, Maheswari was on July 19 transferred as the CEO of the Noida Authority and replaced by Lokesh M, who was serving as the Divisional Commissioner of Kanpur. The authority on Wednesday issued a show notice to chief finance and accounts officer Manoj Kumar Singh, seeking his response within three days, failing which legal action, including suspension, c

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

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

Small banks vs private/PSU banks: Where should you lock your money?

Here are some key points to consider when making your decision

HNIs preferring fixed deposits over debt mutual funds, says report

With the debt mutual fund schemes now under the tax ambit, the attractiveness of the product has reduced as High Net worth Individuals (HNIs) are favouring bank fixed deposits (FDs) over such funds, according to a report by Motilal Oswal Financial Services on Thursday. In addition, interest rates on bank deposits have increased significantly over the past one year. This led to HNIs getting inclined towards bank fixed deposits over debt mutual funds, Nitin Aggarwal, Head of BFSI Research at Motilal Oswal Institutional Equities, said. Although HNIs comprehend the advantages of mutual funds over other financial products, past problems in the sector still concern them. The report is based on the inputs of large mutual fund distributors, having an asset under management (AUM) in excess of Rs 1,000 crore, and institutional sales representatives. Going by the report, HNIs have also been preferring PMS (Portfolio Management Schemes) and AIFs (Alternative Investment Funds) as they find mutu

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

Post office saving schemes compete with bank FDs after 3 rate hikes by govt

Post office term deposits, which were fetching lesser returns than bank FDs in the recent past, have again become competitive with the government effecting three back-to-back increases in interest rates on small savings schemes. 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. After a series of repo rate hikes by the RBI since May 2022, the transmission to retail deposit rates gathered pace in the second half (H2) of the last fiscal after remaining subdued in April-September (H1) period as banks intensified their efforts to garner retail deposits to fund robust credit growth, a central bank analysis. The Weighted Average Domestic Term Deposit Rate ( WADTDR) on fresh deposits (including retail and bulk) of banks increased by 222 basis points (bps) from May 2022 to February 2023. During H1, banks had focussed on mobilising bulk deposits. This was reversed in H2 wit

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

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

Sundaram Finance to revise interest rate on term deposits from Jan 1

Non-banking finance company Sundaram Finance would revise interest rate on its term deposits with effect from January 1, the city-based firm said on Saturday. Accordingly, the rate on 12-month deposit would be increased to 7.20 per cent, 7.50 per cent for a tenure of 24 months and for 36 months it would be 7.50 per cent. For senior citizens, the rate of interest would be 7.70 per cent for 12-month deposits, 8 per cent for 24 and 36 months, the city-based Sundaram Finance said in a statement here. The company said its deposit base stood at Rs 4,461 crore.

Bank of Baroda hikes MCLR up to 30 basis effective December 12

The revised rates will be effective from December 12

Time still not ripe for investors to bet on long-duration debt funds

Lock into one-two year FDs and continue laddering, say experts

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

Revised rates applicable on fresh deposits and renewals

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

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

Three-five-year gilts are attractive in current times, say experts

For tax-efficient exposure, go for target maturity funds maturing in 2026-2028

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

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