Private lender ICICI Bank on Thursday announced a fixed deposit product with an enhanced interest rate offering of 0.80 percentage point for senior citizens
The new tax benefit is, however, going to make senior citizens more wanted.
PPF, Kisan Vikas Patra interest rates to fall from 1 April, it's time to consider bolder investment options
The common refrain from small savers is that they do not understand financial instruments beyond fixed deposits
Following the latest rate cut from the RBI by a higher-than-expected 50 bps, banks have begun cutting their base rates in the last two days.
Going by the draft, under the GMS, an individual or entity can walk into a test centre and gets the gold melted, purity assessed and converted into bars, against which the bank will issue a certificate to the holder.
Traditionally, Indian investors are used to buying a combination of open ended and close ended products.
Savings in deposits by the households rose, however, to Rs 1 lakh crore (17 per cent) in the year to Rs 6.91 lakh crore in FY14 as against Rs 5.91 lakh crore in 2012-13.
About Rs 436 crore is involved in the financial irregularities in these two banks. In a damage control exercise, both banks have suspended or transferred the 'erred' staff.<br />
The lenders are alleged to have indulged in siphoning off the money (Rs 180 crore by OBC and Rs 256 crore by Dena Bank) received as fixed deposits.<br />
Whatever the tenure, and whether you are in the lowest tax bracket or the highest, you can beat almost any safe bank FD return with a tax-free bond.
With the revision, term deposit between 180-210 days less than Rs 1 crore would now earn 7 percent against existing 6.80 percent, SBI said in a statement.<br /><br />
This is because when banks deduct TDS quarterly, the tax amount is cut from the principal amount every three months.
The ad claims it is a five-year fixed deposit offering jaw-dropping high double-digit yields. But hold, before you fall for this big number, take a calculator and do the math yourself. You will be amazed to find out how deceptive the ad is.
Like the name suggests, it's a credit card. But unlike a regular credit card which is an unsecured debt, here the bank asks you for collateral or a security before giving you a card.