FCNR (Foreign Currency Non Resident) account is fixed deposit account offered by banks in India to non resident Indians (NRIs) and is operated in foreign currency. FCNR deposits are good investment option for NRIs in Hong Kong as the interest rate offered by banks in India are way higher than that offered by banks in […] Continue reading →
Fixed deposit with banks are the most popular investment option for regular income after retirement. But with interest rates going down retirees have started exploring other options. Systematic Withdrawal Plan (SWP) in debt fund is one such option which retirees and people looking for regular income must evaluate. As per your SWP instructions to mutual fund, […] Continue reading →
With the wider acceptance of Credit cards and the convenience it offers, it sometimes become necessary to have credit cards. But not everyone is eligible to have one and banks may deny credit card due to reasons like poor credit score, no regular income, and low salary among many others. Credit card against Fixed Deposit […] Continue reading →
The post lists down the rate of interest on Bank fixed deposits for Senior Citizens as of December 1, 2018. You might want to bookmark this page as the FD interest rates would be updated every month. Would help you in better decision making. Fixed Deposit Highlights: Most banks offer FDs for tenure of 7 Days […] Continue reading →
Fixed Deposit is the most popular investment in India mainly due to guaranteed returns, choice of interest pay-out frequency, liquidity, safety and ease of execution. Most retired depend on the regular interest earned from fixed deposit for their day to day expenses. Here are 13 most important things you should know before investing in Fixed […] Continue reading →
You might have received Whatsapp forward or read somewhere on social media about a new proposed Financial Resolution and Deposit Insurance Bill (FRDI) which has a “Bail-in” clause where in case of bank failure, depositors money like fixed deposits, savings bank account, etc can be used to absorb bank losses. This is just a proposed bill […] Continue reading →
Form 15G and Form 15H are self-declaration forms which can be submitted to banks and other institutions to avoid Tax deduction at source (TDS) by banks on fixed and recurring deposit. The good news is now most big banks like SBI, ICICI, HDFC, Axis bank etc allow depositors to submit Form 15G or Form 15H […] Continue reading →
Government of India announces interest rate on small saving schemes like PPF, Senior Citizen Savings Scheme, Post Office Fixed and Recurring Deposits and Sukanya Samriddhi Account every quarter effective April 2016. This is done to keep these interest rates in sync with the market rates. The table below shows the interest reset schedule: Interest Rates […] Continue reading →
Whenever we reach close to goals, it’s always recommended to shift the investment from risky avenues to safer options. In this post we talk about which is the best option to park your money if you investment horizon is less than 6 months. Where to Park Money for Very Short Term? You can choose to park […] Continue reading →