These schemes come with competitive rates for various tenures, for both general customers and senior citizens
Revised rates range from 3.50% to 8% for general citizens; senior citizens will receive returns of 8.50%
Lender offers 3.50% rate to general citizens on deposits with tenures ranging from seven to 45 days
In the event that the RBI decides to lower interest rates in December, this could be an opportune time for investors to lock in higher returns on fixed deposits
Indian households, Desai wrote, are still under-invested in equities. At cost, only 3 per cent of the household balance sheet is in equities, excluding equity holdings of founders.
The highest interest rate of 7.75% and 8.25% is for a tenure of 18 months
Comprehensive insights into ratings and returns offered by various players over different horizons
MobiKwik, a digital financial services platform, on Wednesday announced the launch of an Instant Fixed Deposit (FD) product on its mobile app, in partnership with financial services firms. The product aims to simplify the savings process for its users, MobiKwik said in a statement. MobiKwik Fixed Deposits allows users to start investing with as little as Rs 1,000 and earn up to 9.5 per cent returns per annum without opening a new bank account, it said. Users can choose a tenure ranging from 7 days to 60 months depending on their convenience, it said. Premature withdrawals are allowed subject to variations in interest rates as outlined in the terms and conditions of the issuer, it said. Through its partnership with RBI-regulated Small Finance Banks and NBFCs such as Suryoday Small Finance Bank, Bajaj Finance, and others along with technology service provider Blostem, MobiKwik aims to provide security of fixed deposit bookings made on its platform, it added.
Public sector banks are offering attractive fixed deposit interest rates, with senior citizens earning up to 7.95% for 400-day tenure. High deposit safety is driving its popularity, say analysts
Offer available at the bank's branches and digital channels (BOI Omni Neo App/ Internet Banking)
Some of the banks providing these rates include NorthEast Small Finance Bank, Unity Small Finance Bank, RBL Bank, YES Bank and Deutsche Bank
Senior citizens may invest in high-quality bonds, senior citizens savings schemes, and post office monthly income schemes
Deposits with 444-day tenure will earn 7.85 per cent interest per annum, while those opting for a 375-day term can enjoy a 7.75 per cent annual return
Myth of flagging deposit growth appears as just a statistical myth with credit growth outpacing deposit growth being tom-tommed as a deceleration in deposit growth, the research report said
A number of regulations applicable to NBFCs were reviewed and revised regulations were shared in the central bank's latest circular
SBI's one-year MCLR, which directly influences many loan types, has risen from 8.85% to 8.95%
Punjab National Bank's rates range from 3.5% to 7.25% for those under 60
Lender raises extra interest rate for deposits made by senior citizens and super senior citizens
It will offer 7.35% and 7.40% on fixed deposits below Rs 3 crore for 35 months and 55 months tenors
Most banks offer higher interest rates (usually 50 basis points) on their senior citizens' fixed deposits