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 →
Government has declared the interest rates to be paid on small saving schemes for FY 2015-16. These interest rates are revised at the start of every Financial Year. The interest paid on Sukanya Samriddhi Account has been raised to 9.2% from existing 9.1%. The investors of Senior Citizens Savings Scheme (SCSS) would also get increased […] Continue reading →
Along with changes in income tax, budget 2015 has also made some changes in TDS (Tax Deduction at source) for Fixed Deposit, Recurring Deposit and EPF (Employee Provident Fund). The post discusses these changes: TDS on Recurring Deposit (RD) Until now recurring deposit was not subjected to TDS. Budget 2015 has amended this and now […] Continue reading →
Last month RBI had cut its Repo rates which lead most banks to reduce their interest rates on fixed deposits. An alternative to lock in higher interest rate is to invest in fixed deposits offered by companies. But before you get excited at getting higher interest rates here are some points to keep in mind: Evaluating […] Continue reading →
Keeping in the theme of “Beti Bachao Beti Padhao” i.e. all round development of Girl child, the Government of India has launched Sukanya Samriddhi Account – a long term deposit scheme for girl child. The post covers everything you wanted to know about the new investment avenue. 1. Who can open the account? This account can […] Continue reading →
SRS Limited, the NCR based company is offering Fixed Deposit Scheme for 1 to 3 years tenure offering 12% – 12.5% Annual Interest. Scheme Highlights: Minimum Amount of deposit to be accepted is Rs.20,000/- and in multiple of Rs. 1,000/- thereafter. For Scheme A (Non Cumulative), interest will be compounded monthly and payable quarterly. For […] Continue reading →
Most people consider their bank fixed deposits extremely safe but some recent events in Cyprus (an euro zone country) bust this myth of safety of bank deposits. The Cyprus government has decided to use the depositors’ money in bank account to pay off its debts. Deposits greater than €100,000 were frozen by the government but […] Continue reading →
The Interest Rates on Small Saving Schemes like PPF (Public Provident Fund), SCSS (Senior Citizens Saving Scheme), NSC (National Saving Certificate), Monthly Income Scheme (MIS), Post Office Recurring Deposit (RD) and Post Office Term Deposits have been cut by 0.1%. However the interest rate on term deposit for 1 Year and the Post Office Savings account have remained […] Continue reading →
Most people believe fixed deposits to be the safest investment possible as its value never go down, there is no perceived risk of bank defaulting on payments and you can do FD online just on click of few buttons. But have you realized that investing in fixed deposit might be making some of you poorer. […] Continue reading →