Interest Rate

Interest Rate News

Sundaram Financial Ltd increases interest rates up to 7.80% on fixed deposits; details here
Business

Sundaram Financial Ltd increases interest rates up to 7.80% on fixed deposits; details here

For non-cumulative FDs due in 36 months, the company has raised the interest rate to 7.80 percent annually, 7.53 percent monthly, and 7.58 percent quarterly for elderly people

Axis Bank raises interest rates on FDs under Rs 2 crore; details here
Business

Axis Bank raises interest rates on FDs under Rs 2 crore; details here

With the revised rates, the general public's Axis Bank FD rates now range from 3.5 to 6.5 per cent, while senior citizens' rates range from 3.5 to 7.25 per cent

Bandhan Bank increases interest rates to 8% on fixed deposits; details here
Business

Bandhan Bank increases interest rates to 8% on fixed deposits; details here

Senior Citizens can benefit from an additional 0.50 per cent, or 50 basis points, raising their returns to as much as 8 per cent for a 600-day FD

Bank of Baroda and other banks hike interest rates on FDs; details here
Business

Bank of Baroda and other banks hike interest rates on FDs; details here

Two distinct tensors of 444 and 555 days are included in the Bank of Baroda’s new scheme

ICICI Bank hikes interest rates on fixed deposits under Rs 2 crore; details here
Business

ICICI Bank hikes interest rates on fixed deposits under Rs 2 crore; details here

Previously on 18 October, ICICI Bank increased the interest rates on a few different FD tenures by up to 25 basis points

Want to take pre-approved loan? Check what benefits you can get
Business

Want to take pre-approved loan? Check what benefits you can get

Notably, pre-approved loans are only available for a limited period. That’s why making a decision at the appropriate time is so crucial

These banks are offering exciting interest rates on fixed deposits during festive season; check list
Business

These banks are offering exciting interest rates on fixed deposits during festive season; check list

Among small finance banks, Ujjivan Small Finance Bank has the highest interest rates

Interest rate for Sukanya Samriddhi Yojana unchanged for October-December 2022 quarter; details here
Business

Interest rate for Sukanya Samriddhi Yojana unchanged for October-December 2022 quarter; details here

At the conclusion of each financial year, interest is credited to the account and is exempt from tax under Section 80C of the Income Tax Act of 1961

Union Bank of India increases interest rate on fixed deposits under Rs 2 crore; details here
Business

Union Bank of India increases interest rate on fixed deposits under Rs 2 crore; details here

The interest on the fixed deposit is calculated daily and credited four times a year in the months of April, July, October, and January

IDFC First Bank hikes interest rates on fixed deposits, savings accounts; latest rates here
Business

IDFC First Bank hikes interest rates on fixed deposits, savings accounts; latest rates here

Fixed deposits maturing in 750 days will now be getting 7.25 percent interest rather than 6.9 percent, which is an increase of 35 basis points.

Senior citizens to get up to 7.6 % return on FDs from these private sector banks
Business

Senior citizens to get up to 7.6 % return on FDs from these private sector banks

Here, we have come up with some options for some leading private-sector banks which have been offering higher interest rates

Reserve Bank of India to raise interest rate for the fourth time to tame inflation, say experts
Business

Reserve Bank of India to raise interest rate for the fourth time to tame inflation, say experts

The RBI, which has since May raised the short-term lending rate (repo) by 140 basis points (bps), may again go for a 50-bps increase to take it to a three-year high of 5.9 per cent, say experts

Home loans for Indiabulls Housing Finance customers to get costlier from October; here's why
Business

Home loans for Indiabulls Housing Finance customers to get costlier from October; here's why

Interest rates are influenced by a number of variables, most notably the monetary policy of the Reserve Bank of India

World shares fall tracking Wall Street dismay over price data
Business

World shares fall tracking Wall Street dismay over price data

Higher rates hurt the economy by making it more expensive to buy a house, a car or anything else usually purchased on credit. Mortgage rates have already hit their highest level since 2008, creating pain for the housing industry

Chidambaram attacks govt for discontinuing RBI Bonds scheme, says it is another 'cruel blow' to citizens
Business

Chidambaram attacks govt for discontinuing RBI Bonds scheme, says it is another 'cruel blow' to citizens

Senior Congress leader P Chidambaram on Thursday hit out at the government for discontinuing the RBI Bonds scheme, saying it is another "cruel blow" to the citizens

Banks not passing lower interest rate benefits to borrowers, developers: CREDAI tells RBI
Business

Banks not passing lower interest rate benefits to borrowers, developers: CREDAI tells RBI

Realtors' apex body CREDAI has written a letter to RBI, complaining that banks are not passing lower rate benefits to home loan borrowers and cash-starved developers

RBI monetary policy: Central bank extends moratorium on loans for another 3 months till August
Business

RBI monetary policy: Central bank extends moratorium on loans for another 3 months till August

Reserve Bank Governor Shaktikanta Das on Friday extended the moratorium on payment of loans by another three months till August to provide much-needed relief to borrowers whose income has been hit due to the coronavirus crisis

RBI monetary policy: Central bank extends Rs 15,000-cr credit line to EXIM Bank to help revive sagging foreign trade
Business

RBI monetary policy: Central bank extends Rs 15,000-cr credit line to EXIM Bank to help revive sagging foreign trade

The Reserve Bank on Friday announced a Rs 15,000-crore line of credit to the Export-Import Bank of India, to help the sagging foreign trade

RBI monetary policy: GDP growth in 2020-21 likely to be in negative territory, says Shaktikanta Das
Business

RBI monetary policy: GDP growth in 2020-21 likely to be in negative territory, says Shaktikanta Das

The Reserve Bank on India (RBI) on Friday said India''s gross domestic product (GDP) growth will be in negative territory in 2020-21 as the outbreak of coronavirus has disrupted economic activities

Coronavirus Outbreak: RBI cuts repo rate by 40 bps to 4%; full text of Shaktikanta Das' statement
Business

Coronavirus Outbreak: RBI cuts repo rate by 40 bps to 4%; full text of Shaktikanta Das' statement

The Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank reduced the repo rate by 40 bps to 4 percent to ease the financial stress caused by the Covid-19 pandemic