There are four tenures that offer the maximum interest rate of 7.15 per cent for both general category and senior citizens -- 1 year to 389 days, 390 days to less than 15 months, 15 months to less than 18 months, and 18 months to 2 years. -- aaa
The banks have reportedly written to the Union Finance ministry ahead of the Budget 2023 session that investment in FD schemes of up to Rs 5 lakh should be made tax-free. This would make small-ticket deposit returns more competitive vis-a-vis small savings mutual fund plans and insurance products.
Fixed Deposit Rates 2022: For the Yes Bank, the new rates came into effect on November 3 and for the ICICI Bank, the new rates came into effect today for deposits between Rs 2 crore to Rs 5 crore while the interest rates for deposits below Rs 2 crore were revised with effect from October 29.
The maxim “all hands are not created equal” rings true in many spheres and perhaps, it is most true when it comes to investments. From the quantum of available disposable income to the needs and aspirations of the investor, as well as their level of understanding of financial markets to their tolerance for risk, there is no one-size-fits-all box.
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Kolkata-based UCO Bank has informed its customers that it is giving 30 basis points (bps) higher rate of interest on the bank’s Fixed Deposits. It is only for those who have taken their COVID-19 vaccination. But there is a catch. The tenure for this UCO Bank FD is 999 days.
Updated Apr 13, 2021 | 06:20 IST Here are five investment options where senior citizens can park their hard-earned savings to get a regular income at high interest rates. Representational image
New Delhi: Investors looking for fixed regular income on their capital have been the worst hit in this falling interest rate scenario. While top banks offer maximum 6% to senior citizens on their fixed deposits with a tenure between 5-10 years, post office small savings schemes provide relatively higher rate. However, investment experts believe that the current high rates on small savings schemes may not sustain further and it is just a matter of time that the government cuts interest rates on these schemes although for the current April-June quarter the interest rates cut was reversed. Under this scenario, here are five investment options where senior citizens can park their hard-earned savings to get a regular income
Under the Central Bank of India's Immune India Deposit Scheme, all citizens who have received Covid-19 vaccine will get higher interest on fixed deposits. Vaccinated senior citizens are eligible for an additional 25 bps. Here is all you need to know: