However, in March 2024, some banks increased their fixed deposit rates. In the case of most banks, the current fixed deposit interest rates being offered are at a decadal high. So, are these the best interest rates on fixed deposits? And should you lock into these high fixed deposit rates? Let us discuss. Also Read: …
A significant reason many people fail to maximise their tax benefits in India is due to a lack of awareness. One contributing factor could be that the ₹1.5 lakh deduction under Section 80C is prominently advertised and straightforward, causing many to assume it’s the sole option available. The complexity of tax laws often complicates the …
The Reserve Bank of India (RBI) is expected to cut the interest rates later this year, thus kicking off the rate cut cycle in the market. However, RBI in its Feb 2024 monetary policy meeting (MPC) kept the interest rates unchanged for the sixth time in a row. But this is expected to change as the banking …
Payments banks (PBs) are expected to knock on the doors of Reserve Bank of India (RBI) to permit them to take small-value fixed as well as recurring deposits, since procuring low-cost savings bank (SB) deposits is proving tough amid rising interest rates on term deposits, reported Business Line. These lender banks are also likely to make a pitch …
Before investing money in a fixed deposit (FD), investors often compare the interest rates offered by different banks. Here we list out the interest rates offered by most major private and public sector banks. The lowest interest rate is in the range of 3-4.25 percent while the maximum interest rate is between 7-7.25 percent. These …
Most conservative investors still opt for safe havens to earn fixed returns on their investment. Among all the options, the safest and most reliable option is fixed deposits (FDs). Those who want to earn marginally higher interest rates on their FDs, at times, lock them in the name of their old parents since banks offer …
Throughout 2023, the Reserve Bank of India (RBI) has consistently raised interest rates as a measure to counter inflation. This results in heightened borrowing costs, encouraging both individuals and businesses to increase their savings, consequently driving up interest rates on savings instruments such as FDs. The escalation of global economic uncertainties and geopolitical tensions also …
Certainly, fixed deposits (FDs) enjoy widespread popularity, largely due to their stability amid market volatility. In contrast to investments tied to market performance, subject to fluctuations, FDs provide a fixed interest rate determined at the onset of the investment. This assured predictability offers a sense of security, particularly appealing to individuals who prefer to avoid …
I want to transfer ₹2 crore from my NRI (non-resident Indian) account in ICICI Bank to my residence country abroad and then transfer again this amount in dollars to ICICI Bank in India in my NRE (non-resident external) account in which no TDS (tax deducted at source) and income tax applies on interest, keeping in …
“India’s growth trajectory is expected to remain on a strong course supported by a recovery in capex and industrial activity,” said Gupta, adding that these, among other factors, should continue attracting investors to invest in India. Edited Excerpts: Q. What are your views on the current market conditions and which sector do you think will …