Page 6 - Fixed Deposits
BoM hikes fixed deposit rates up to 125 bps, to be effective from Oct 12
State-owned Bank of Maharashtra (BoM) on Wednesday increased its fixed deposit rates by up to 125 basis points, or 1.25 per cent. The new rates are effective from October 12, BoM said in a statement. The rate increase applies to fixed deposits as well as special schemes as per period maintained by the bank, it said. The hike in deposit rates will encourage individuals and business to save more as there is a sharp increase of 125 bps in deposit rates for the tenure of 46-90 days, it said. For tenure of 1-year interest would be 6.50 per cent and for deposits above one year, customers will enjoy an increase of 25 bps, up to 6.25 per cent, it said. The senior citizens shall enjoy an additional benefit of 50 bps in interest rate with an attractive deposit rate of up to 7.5 per cent under 200/400 days' special scheme, as per the statement. The bank's attractive interest rates make it a compelling option for both short-term and long-term savers fostering trust and loyalty among them, it
 "BoM hikes fixed deposit rates up to 125 bps, to be effective from Oct 12")
Watch out! Some big banks are reducing FD rates and increasing loan rates
The increase in HDFC Bank's MCLR comes even as the RBI kept policy repo rate unchanged at 6.50 per cent for the fourth time in a row last week.
 "Watch out! Some big banks are reducing FD rates and increasing loan rates")
You can now book an FD online in 3 minutes, compare rates on this platform
The online platform enables investors to compare FDs and invest in one within 3 minutes without having to open a savings account.
FDs should not be used for wealth creation: What investors should do instead
You might get excited when banks offer 8 per cent interest rate on a five-year fixed deposit.
 "FDs should not be used for wealth creation: What investors should do instead")
Post tax returns of FD rates still below FY24 inflation expectation of 5.4%
If an investor in the 30% tax bracket invests Rs 10 lakh in a bank FD that fetches 8% per annum interest, her earnings would be Rs 80,000. Post-tax, the earnings will further reduce to Rs 56,000
 "Post tax returns of FD rates still below FY24 inflation expectation of 5.4%")
7 banks offering 9% interest rate to senior citizens: Full list of FD rates
Fixed deposits come with a premature withdrawal option that enables you to close the account before it matures. However, you will have to pay a penalty to the bank to avail of this facility.
An inheritance issue, luxury at the movies: Top personal finance stories
What does the law say about the rights of children born of invalid marriages; how are multiplexes wooing viewers: Our newsletter explains
 "An inheritance issue, luxury at the movies: Top personal finance stories")
Chart: Corporate fixed deposits offered by various companies
Paisabazaar's table for information on returns and credit ratings of leading providers
SBI issues latest fixed deposits rate 2023, check full details below
State Bank of India issues latest fixed deposits rate 2023. SBI also offers special FD schemes to attract customers such as SBI Wecare for senior citizens, and SBI Amrit Kalash
 "SBI issues latest fixed deposits rate 2023, check full details below")
A snapshot of corporate FD tables
A snapshot of corporate FD tables
Deposit growth hits 6-yr high on Rs 2000 note withdrawal, higher FD rates
In absolute terms, bank deposits have increased by Rs 22 trillion in the trailing twelve-month period
 "Deposit growth hits 6-yr high on Rs 2000 note withdrawal, higher FD rates")
A snapshot of fixed deposit rates offered by various companies
A snapshot of fixed deposit rates offered by various companies
 "A snapshot of fixed deposit rates offered by various companies")
How much do Indians save in FDs? All India average is Rs 4.25 lakh
Fixed deposits offer a guaranteed rate of interest, which is usually higher than regular savings accounts.
 "How much do Indians save in FDs? All India average is Rs 4.25 lakh")
75% Indians don't have funds for emergencies: How to save and plan for it
Most thumb rules related to emergency fund planning state that you must have 6-9 months of your fixed monthly expenses saved away in an easily accessible and low risk asset class.
 "75% Indians don't have funds for emergencies: How to save and plan for it")
TMS Ep457: High airfares, tutoring industry, FDs over equities, NDRF
Are cartelisation, regulatory failure led to high airfares? How does India's tutoring industry compare to the world? Are FDs a better bet over equities for next year? What is the NDRF? Answers here
 "TMS Ep457: High airfares, tutoring industry, FDs over equities, NDRF")
Should you opt for one large fixed deposit or multiple smaller FDs?
For earning better returns, you can spread your investments across multiple fixed deposits with different maturity dates instead of locking all your funds in one fixed deposit for a longer period.
Debt mutual funds or FDs: What should you pick given RBI status quo?
With RBI keeping the key repo rates unchanged at 6.50 per cent, investors with surplus funds are looking to park their money. We decode whether they should stick to FDs or stick to debt funds
Repo rate unchanged at 6.%: Full list of banks offering highest FD rates
Following is a list of public and private banks and the highest Fixed Deposit interest rates they are offering
 "Repo rate unchanged at 6.%: Full list of banks offering highest FD rates")
Is FD a must? All your queries on opening a bank locker answered
Banks are already repeatedly releasing advisories to customers and urging locker holders to sign their revised contracts by June 30.
 "Is FD a must? All your queries on opening a bank locker answered")
Abrdn likely to sell its entire stake in HDFC Life through a block deal
The shares will be sold between Rs 563.2 and Rs 585.15 each. At the upper end of the price band, the block sale would fetch abrdn Rs 2,088 crore
 "Abrdn likely to sell its entire stake in HDFC Life through a block deal")