When considering fixed deposits, banks are often the first option that comes to mind. However, it’s important to note that term deposits can be made in banks, post offices, and corporate bodies. While many people may think that corporate organizations are unsafe, financial experts suggest depositing in AAA-rated institutions is safer.
State Bank of India has given its customers some good news by increasing the interest rates on various tenure fixed deposits by 75 basis points. The revised rates have been in effect since May 15. The country’s largest public sector bank, SBI, has announced an increase in interest rates on fixed deposits for retail depositors below Rs.2 crores and bulk deposits above Rs.2 crores.
Bank fixed deposits are designed to support senior citizens in their old age by providing guaranteed returns without any risk. Interest rates on fixed deposits have been high for some time now, with banks offering up to 50 basis points more interest to senior citizens than to regular citizens.
When considering making a fixed deposit in the State Bank of India, it’s important to know how many years it will take for your money to double. This can be calculated using the Rule of 72, which is a quick way to estimate the doubling time for an investment.
Axis Bank, one of the leading private sector banks in the country, has announced a revision in the interest rates on fixed deposits worth less than 2 crores. The bank has stated on its official website that these revised interest rates have come into effect from May 15, 2024.
Banks are currently offering good interest rates on deposits, but these rates are likely to decrease soon. For those looking to make a long-term investment, 5-year fixed deposits are a better option. We would like to know the list of the top 6 banks offering high interest rates for these 5-year maturity tenure deposits.
Many banks currently offer higher interest rates on fixed deposits due to the Reserve Bank of India’s (RBI) recent increase in repo rates. This means that depositors can expect good returns on their investments. However, some banks have been increasing their interest rates recently and are now gradually reducing them.
Loans against gold have become increasingly popular for obtaining quick loans whenever needed. Many people take loans by mortgaging their gold with banks. These loans offer many benefits. However, if you take a loan of 5 lakhs, how much EMI should you pay per month?
Everyone can check their CIBIL Score or Credit Score without a PAN Card by using their identity cards, such as passports, voter IDs, driving licenses, ration cards, etc. Knowing CIBIL Score is simple and free, thanks to the simple steps offered by CIBIL’s Official Website.
The use of credit cards has increased tremendously in recent times. Most transactions are now done through Rupay, Visa, and MasterCard credit cards. As banks and credit card issuing organisations are issuing cards more easily than before, many people are using more than one credit card. But is it better to use multiple credit cards? Does it have any benefits?