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Fixed Deposits (FDs) in India offer guaranteed returns, higher interest rates than savings accounts, and tax benefits. Small finance banks provide rates ranging from 4.5% to 9% for regular consumers and up to 9.5% for senior citizens
Fixed Deposit Calculation: Be it a cumulative FD where the interest is paid at the time of maturity or a non-cumulative FD where the interest is paid periodically, you have to pay tax on the interest income of your fixed deposit every financial year. This interest is taxable as per the tax bracket of the investors. Is there a way senior citizens can earn tax-exempted returns from tax-saving FD? How much should a senior citizen invest? ET Wealth Online explains
Fixed deposit interest rate hike: The era of rising interest rates on fixed deposits is not over yet. Some factors that indicate this is credit growth remaining much higher than deposit growth; the recent decision of the Reserve Bank of India (RBI) to increase the investment limit of non-callable deposits to Rs 1 crore. As an FD investor, you can take advantage of rising interest rates to invest in term deposits. Know how your FD interest rate will be impacted in the short term and long term.
FD rates hike: The bank credit rose 9.1% to Rs 124.5 lakh crore in April-August 2023, while bank deposits surged by 6.6% to Rs 149.2 lakh crore in the period. As a result, will banks hike the interest rates of fixed deposits (FDs) in the short-term or long run? Let's find out what experts say
Company FDs are unsecured investments that offer a fixed return. Corporate FDs pay higher interest than bank FDs, usually 0.75 per cent to 1.5 per cent higher. Senior citizens can even earn additional interest rates of 0.25 per cent to 0.5 per cent, depending on the company. At present, many AAA-rated company FDs offer interest rates of more than 8 per cent. So, what factors you should keep in mind while investing in corporate FDs. ET Wealth explains
Fixed Deposit Interest Rate: DCB Bank slashed interest rates on its fixed deposits by up to 50 basis points this month. Among other banks, Axis Bank, Bank of India, Punjab National Bank (PNB) and IndusInd Bank have also cut interest on fixed deposits recently. RBI paused the benchmark repo rate for the third consecutive time in the August Monetary Policy Committee (MPC) meeting. With the dream run of interest rate hikes on FDs almost coming to an end, how should you invest in FDs now?
Several major public and private sector banks have reduced interest rates since May 2023. Axis Bank, Punjab National Bank (PNB), Union Bank of India, and IndusInd Bank are among the banks that have cut interest rates on their fixed deposits in the last four months. Will banks start reducing interest rates on FDs now? All eyes will be RBI Monetary Policy Committee meeting being held between August 8-10. Know how upcoming MPC decision is likely to impact the interest rates on fixed deposits going forward and what FD investors should do to get maximum return.
Investors can use the online FD calculator to estimate their returns, which can help in choosing the right tenure and initial deposit amount based on their income, needs, and future financial goals.