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 →
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 →
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 →
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 →
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 →
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 →
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 →
The government has finally cut the interest rates offered on small savings schemes like PPF, Senior Citizen Savings Scheme, Post Office Fixed and Recurring Deposits and Sukanya Samriddhi Account by 0.4% to 1.3%. The much publicized Sukanya Samriddhi Yojna would have 8.6% interest as compared to 9.2% earlier. Similarly for Senior Citizens Savings Scheme the […] Continue reading →