RBI on September 2015 had granted licence to 10 Small Finance Banks. Lately these banks have been in news for offering higher interest rates on their fixed deposits as compared to regular banks. In this post we would tell you whats on offer by small banks and if you should invest and bank with them! […] 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 →
Excel based Post Office RD calculator where you can input investment amount and interest and it gives you the Maturity amount and interest earned. Continue reading →
Taxation plays a very important role in the returns generated by your investment and so you should know how the investment is taxed before you choose one. We list down the most common investments and how they are taxed? Fixed Income/Debt Investments: 1. Saving Bank Account: Interest earned in Saving bank account up to Rs […] Continue reading →
Below are the features, interest rates, maturity amount along with other details for SBI Recurring deposit. SBI Recurring Deposit Scheme – Features: Maturity from 12 to 120 Months Nomination facility available The minimum amount of monthly installment shall be Rs 100. The amount of installment and number of installment can not be changed after opening of […] Continue reading →
Recurring deposits (RD) with banks are one of the most popular investment options for people with regular income. RD enables to deposit fixed amount every month for a pre-defined period which earns interest similar to Fixed Deposits (FD). You might want to bookmark this page as the RD interest rates would be updated every month […] Continue reading →
Interest rates quoted by banks are compound interest while annual yield is equivalent to simple interest. Understand the concept of interest rate and yield on fixed deposit to escape misselling by banks Continue reading →
Post Offices like banks offer RD (Recurring Deposits) and offer very competitive interest rates. The latest Post Office RD interest rates for 2019 (Jan to Jun) is 7.3% with tenure of 5 years. 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 →