Fixed Deposits – The News Desk

Corporate FDs vs Bank FDs: Which one should you opt for? Let’s compare | Business

13Apr

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Business

Corporate FDs vs Bank FDs: Which one should you opt for? Let’s compare | Business

Senior Citizen Bank Fixed Deposit RatesBank NameInterest Rates (p.a.)Additional rates offered to Super Senior Citizen* (over and above to senior citizen rates)Highest slab1-year tenure (%)3-year tenure (%)5-year tenure (%)%TenurePRIVATE SECTOR BANKSAxis Bank7.8517 months to less than 18 months7.207.607.75---Bandhan Bank8.35500 days7.757.756.60---City Union Bank7.50400 days7.006.756.50---CSB Bank7.75401 days5.506.256.25---DBS Bank8.00376 days to 540 days7.507.007.00---DCB Bank8.6025 months to 26 months7.658.107.90---Federal Bank8.00500 days7.307.507.25---HDFC Bank7.755 years 1 day to 10 years & 18 months to less than 21 months7.107.507.50---ICICI Bank7.7515 months to 2 years7.207.507.50---IDFC First Bank8.50500 days7.007.757.50---IndusInd Bank8.251 year to 2 years8.257.757.75---Jammu &...

10Dec

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Money

10 money lessons from Morgan Housel

MUMBAI :Over the last few years, Morgan Housel has become a very popular writer and blogger on personal finance. His two books, The Psychology of Money and Same as Ever, have extensively covered the idea of how to go about managing one’s money. In this piece, we will look at the basic ideas that Housel espouses and how you can go about implementing them in your own personal journey of earning money and saving it. Over the last few years, Morgan Housel has become a very popular writer and blogger on personal finance. His two books, The Psychology of Money and Same as Ever, have extensively covered the idea of how to go about managing one’s money. In this piece, we will look at the basic ideas that Housel espouses and how you can go about implementing them...

Bank of Maharashtra increases lending rate by 10 bps for select tenure

12Oct

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Business

Bank of Maharashtra increases lending rate by 10 bps for select tenure

State-owned Bank of Maharashtra (BoM) on Thursday said it has increased its marginal cost of funds-based lending rate (MCLR) for select tenure by 10 basis points. The benchmark one-year MCLR, used to price most consumer loans such as auto, personal and home, has been revised upwards to 8.60 per cent from 8.70 per cent, the lender said in a regulatory filing. The revised MCLR has come into effect from October 11, 2023. At the same time, the Pune-based bank has increased its fixed deposit rates by up to 125 basis points, or 1.25 per cent, with effect from Thursday. The rate increase applies to fixed deposits and special schemes as per the period maintained by the bank, the lender said in a statement. The hike in deposit rates will encourage individu...

Beyond PAN Limitations: Do These Financial Tasks Without A Working PAN Card

29Jul

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Business

Beyond PAN Limitations: Do These Financial Tasks Without A Working PAN Card

Inoperative PAN can affect financial transactions and taxesEven though your PAN is inoperative, you can still carry out certain financial transactions. However, these transactions are subject to higher tax deductions.If you did not link your Permanent Aadhaar Number (PAN) to Aadhaar before June 30, your PAN is now considered inoperative. This means you’ll face some problems with your financial activities and taxes. For instance, you won’t be able to invest in bank fixed deposits or mutual fund schemes, file income tax returns (ITR), or receive tax refunds.Even though your PAN is inoperative, you can still carry out certain financial transactions. However, these transactions are subject to higher tax deductions at source (TDS) and tax collection at source (TCS).Here are some examples:If yo...