Page 3 - Fixed Deposit

Small banks vs private/PSU banks: Where should you lock your money?

Here are some key points to consider when making your decision

HNIs preferring fixed deposits over debt mutual funds, says report

With the debt mutual fund schemes now under the tax ambit, the attractiveness of the product has reduced as High Net worth Individuals (HNIs) are favouring bank fixed deposits (FDs) over such funds, according to a report by Motilal Oswal Financial Services on Thursday. In addition, interest rates on bank deposits have increased significantly over the past one year. This led to HNIs getting inclined towards bank fixed deposits over debt mutual funds, Nitin Aggarwal, Head of BFSI Research at Motilal Oswal Institutional Equities, said. Although HNIs comprehend the advantages of mutual funds over other financial products, past problems in the sector still concern them. The report is based on the inputs of large mutual fund distributors, having an asset under management (AUM) in excess of Rs 1,000 crore, and institutional sales representatives. Going by the report, HNIs have also been preferring PMS (Portfolio Management Schemes) and AIFs (Alternative Investment Funds) as they find mutu

ESAF SFB hikes FD rates, offers up to 9% returns effective from today

The interest rates at ESAF Small Finance Bank (SFB) were raised on deposits of less than Rs 2 cr

Post office saving schemes compete with bank FDs after 3 rate hikes by govt

Post office term deposits, which were fetching lesser returns than bank FDs in the recent past, have again become competitive with the government effecting three back-to-back increases in interest rates on small savings schemes. The return on post office term deposits of two years under the small savings schemes is 6.9 per cent, the same as offered by most banks on deposits of similar maturity. After a series of repo rate hikes by the RBI since May 2022, the transmission to retail deposit rates gathered pace in the second half (H2) of the last fiscal after remaining subdued in April-September (H1) period as banks intensified their efforts to garner retail deposits to fund robust credit growth, a central bank analysis. The Weighted Average Domestic Term Deposit Rate ( WADTDR) on fresh deposits (including retail and bulk) of banks increased by 222 basis points (bps) from May 2022 to February 2023. During H1, banks had focussed on mobilising bulk deposits. This was reversed in H2 wit

Fixed deposit interest rates to go up again? RBI hits at another hike

In the bulletin, the RBI said that the Indian economy is unlikely to face any major repercussions from the ongoing global financial turmoil

Employee union urges Bank of Maharashtra to hike rates on term deposits

Company is losing balances in savings as well as fixed deposits to competitors, it says

Sundaram Finance to revise interest rate on term deposits from Jan 1

Non-banking finance company Sundaram Finance would revise interest rate on its term deposits with effect from January 1, the city-based firm said on Saturday. Accordingly, the rate on 12-month deposit would be increased to 7.20 per cent, 7.50 per cent for a tenure of 24 months and for 36 months it would be 7.50 per cent. For senior citizens, the rate of interest would be 7.70 per cent for 12-month deposits, 8 per cent for 24 and 36 months, the city-based Sundaram Finance said in a statement here. The company said its deposit base stood at Rs 4,461 crore.

Bank of Baroda hikes MCLR up to 30 basis effective December 12

The revised rates will be effective from December 12

Time still not ripe for investors to bet on long-duration debt funds

Lock into one-two year FDs and continue laddering, say experts

Bajaj Finance raises interest on FDs of up to Rs 5 crore by 25 bps

Revised rates applicable on fresh deposits and renewals

Special FD rates, while attractive, lose the medium to long-term race

While you may begin allocating to them, keep some powder dry as rates could rise further

Bandhan Bank offers 7.5% interest rate on retail FDs for limited period

Rate applicable to both fresh deposits and renewals of up to Rs 2 crore for a tenure of 600 days, seniors to get 0.5% more

State Bank of India, IDBI Bank hike retail fixed deposit rates

For 1 year to less than 2 years, SBI is offering 6.10% as compared to 5.60% earlier

Three-five-year gilts are attractive in current times, say experts

For tax-efficient exposure, go for target maturity funds maturing in 2026-2028

Days of delivering sub-par returns may soon come to an end for debt funds

The YTM of most debt funds tops 6.5%, indicating that they can at least do better than FDs in the near future

Why this is not the time to take on very long-term fixed deposit investment

For periods longer than 3 years, it is a good idea to explore debt mutual funds that offer indexation benefits and lower the tax outgo

Equities, gold, FDs: Where should you invest as global headwinds blow?

The sharp reversal in the interest rate regime by global central banks and high inflation has eroded returns from equities. Where should an investor, with a surplus investable amount, put their money?

Even foreign nationals have right to personal liberty: Huawei chief to HC

Court permits Xiongwei Li to travel abroad after providing a FDR of Rs 5 crore

Begin locking into best FD rates available, take limited exposure to SFBs

Since predicting peak rate is impossible, deploy in tranches over the next few months

Cattle smuggling: CBI freezes Rs 17-cr FDs belonging to Anubrata, family

The CBI has frozen fixed deposits worth Rs 16.97 crore allegedly belonging to TMC leader Anubrata Mondal and his family members in connection with a case of cattle smuggling across Indo-Bangladesh boder, officials said Wednesday. The agency detected the fixed deposits during its continuing probe in the case, they said. The CBI on Wednesday visited Mondal's Nichupatti residence in Bolpur to question his daughter but left within 10 minutes after Sukanya refused to talk to them. The agency had arrested Mondal last Thursday from his residence after he skipped his scheduled appearance before the central probe agency twice in three days, an official said. The CBI has alleged that Vikas Mishra, brother of absconding TMC leader Vinay Mishra, and Mondal provided protection to associates of alleged cattle smuggler Enamul Haq who used to buy animals at a market in Ilambazar, the officials said. The smugglers used to ferry animals from Ilambazar to Indo-Bangla border under the alleged protect