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Synopsis Some smart moves can surely help you make the best of the current scenario. Here is a look at what FD investors should know and do to enhance their return on deposits. Getty Images Fixed deposit investors who were expecting the Reserve Bank of India (RBI) to increase key policy rates, will have to wait longer. That is because for a seventh time in a row (or for almost a year), the RBI, in its bi-monthly monetary policy meeting, has kept the repo and reverse repo rates unchanged. The repo rate and reverse rate remain at 4% and 3.35%, respectively, after the announcement on June 4, 2021. ....
Mortgage lender HDFC Ltd has increased interest rates on its various fixed deposit products having different maturities by up to 25 basis points (bps) with effect from March 30. The increase in rates by the housing finance company comes at a time when all the lenders have been reducing interest rates on their fixed deposits. For special fixed deposits up to Rs 2 crore and maturing in 33 months, HDFC is offering an annual interest rate of 6.20 per cent, according to the information available on its website. Deposits maturing in 66 months will fetch an annual rate of interest of 6.60 per cent. For 99-month fixed deposits, the new rate has been kept at 6.65 per cent. ....
The interest rates on fixed depositsare subject to change from time to time Fixed deposits (FD) are safe investment measures offered by banks that guarantee regular, consistent interest rates. The country s largest lender State Bank of India (SBI), and leading private lenders such as HDFC Bank, ICICI Bank, others including Kotak Mahindra Bank, Axis Bank have specific FD schemes with different interest rates. These banks provide annual returns to the tune of 2.50 - 5.50 per cent to the general public, and 2.50 - 6.30 per cent to the senior citizens, on fixed deposits below Rs 2 crore. Promoted Fixed deposits allow customers to save a specific amount of money in the bank for a fixed tenure - also called lock-in period, at a pre-defined rate of interest. At the end of the tenure, the depositor receives the amount invested as well as the compound interest. ....
Updated Mar 06, 2021 | 11:54 IST PPF stands for Public Provident Fund, VPF for Voluntary Provident Fund. VPF is an extension of the Employees Provident Fund meaning only salaried employees who have an active EPF account can put money in it PPF vs VPF vs FD: The better investment option for you New Delhi: As time is changing and the cost of living is going up, people are looking to invest in options that offer good returns and can help them accumulate a hefty amount over the years. However, interest rates of investment options that offer guaranteed returns have dropped in the last couple of years. The Government of India offers several investments like Sujanya Samriddhi Scheme, PPF etc. to help you save for your retirement. ....
Updated Feb 25, 2021 | 06:11 IST Bank fixed deposits are considered safe because all commercial banks including branches of foreign banks functioning in India, local area banks and regional rural banks are insured by the DICGC These banks are offering highest interest rates on FDs New Delhi: The Reserve Bank of India in its last monetary policy review meeting of the current fiscal decided to keep the repo and reverse repo rates unchanged at 4% and 3.35%. Note that assured returns, high liquidity, and ease of investments make fixed deposits one of the most popular investment instruments in our country, especially among risk-averse investors like senior citizens. ....