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Equitas Small Finance Bank increases interest rate on savings, Fixed Deposit and Recurring Deposit

Equitas Small Finance Bank Limited, one of the leading SFBs, has announced the revision of interest rates for savings, Fixed Deposits as well as Recurring Deposits in Domestic and NRE/ NRO Interest Rates Accounts. ....

Murali Vaidyanathan , Equitas Small Finance Bank , Fixed Deposit , Small Finance Bank Limited , Fixed Deposits , Recurring Deposits , Senior President , Country Head , Savings Account Balance , Equitas Small Finance Bank Limited ,

FD Interest Rate: How to get full maturity amount of fixed deposit despite TDS


How deduction TDS on FD hurts
The maturity amount that the bank mentions on fixed deposit receipt (FDR) is computed with an assumption that no TDS will be deducted on the interest earned on that FD. However, if TDS is deducted later, it not only decreases the maturity amount by the amount of TDS deducted, but the maturity amount is further reduced due to loss of compounding interest that the deducted TDS amount would have earned during the remaining course of the deposit.
How TDS is deducted from bank FD interest
If the total interest earned on your fixed deposits goes above Rs 40, 000 (Rs 50, 000 in case of senior citizens) in a financial year, the bank is liable to deduct TDS at the rate of 10% from the interest amount. The rate of TDS goes to 20% if the depositor has not updated his/her PAN with the bank. In case of NRO account, the TDS rate is 30%. ....

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Detailed text transcripts for TV channel - MSNBC - 20120626:15:54:00

If once again you find it hard to save money in this economy you re not alone. a lot of americans are so cash-strapped they don t even have emergency funds. according to a recent bank rate.com survey, 28% of the country has absolutely no cash socked away, whereas 25% say they have managed to save six months worth. so why aren t we saving more? joining me now to talk about this is personal finance expert, carmen, great to see you here. the average u.s. family savings account balance, $3800. in terms of retirement savings, $35,000 and average of $2,000 in credit card debt for most families. if we throw in job trouble on the horizon for people and struggling families, what is the model people need to take into account, modern day times for what their savings need to be? here s the truth of the matter. you ve got a lot of folks, more than half of americans who just don t have any money. ....

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