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Small finance banks now going big on deposit rates
Several small finance banks have increased their fixed deposit rates to over 8% for two-year tenures, competing with major banks like SBI and HDFC Bank. This move comes as alternative investment options grow, drawing funds away from traditional deposits. Some finance companies are also offering competitive rates above 8% on fixed deposits.
Are Indians really breaking bank deposits to buy mutual funds? Let's run a statistical test
An analysis by Bank of Baroda economist Dipanwita Mazumdar explores the correlation between Indian households shifting savings from bank deposits to mutual funds using Granger causality test and Cointegration regression. Despite growing mutual funds, both have increased at different rates. The share of bank deposits in household financial savings fell to 29.4%, while mutual funds rose to 6%.
IDBI Bank hikes FD rate to 7.85% for 444-day tenure
IDBI Bank has raised its fixed deposit rate to 7.85% for a 444-day tenure and 7.75% for a 375-day tenure to attract more deposits. This offer, valid until September 30, 2024, makes the Utsav Fixed Deposit more attractive for customers. Other tenures under this scheme include 7.70% for 700 days and 7.55% for 300 days.
As countdown of FD interest rate fall has started, is it time to stop laddering and invest in long term FDs?
FD investors have recently benefited from high interest rates, but an upcoming reduction is anticipated. The RBI might follow global trends in rate cuts, impacting FD returns. As the current interest rate on FDs with long tenure is high, investors should consider securing current rates and revising investment strategies to mitigate potential future decreases, balancing long-term savings and liquidity.
RBI Governor Das again flags a big worry for banks as retail money moves out to alternate investment routes
RBI Governor Shaktikanta Das cautioned that rising retail investments in alternative routes like mutual funds could lead to structural liquidity issues for banks, as deposits decline. SBI's latest report shows credit growth among Indian banks surpassing deposit growth, with credit increasing by 14% and deposits by 11.3% year-on-year.
HDFC bank raises FD rates for 35 and 55 months
HDFC Bank raises fixed deposit rates for 35 and 55 month tenures, offering 7.35% and 7.4% interest respectively. Senior citizens will receive 7.85% and 7.9% rates. CEO expresses dissatisfaction with Q1 deposit figures, focusing on deposit growth amid faster advances. RBI flags credit-deposit gap as sector concern. CEO Jagdishan aims to address this, emphasising deposit growth in Q1FY25 earnings call.
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Retail investors speculating for higher returns in stock market, says Eco Survey 2024: FD rates not enough for survival?
Economic Survey 2024 and stock market investment: The Economic Survey 2024 has been tabled in the Parliament today by Finance Minister Nirmala Sitharaman. The survey for FY 2023-24 has a word of caution for retail investors chasing higher returns by moving their investment money from bank FDs to share investments.
See AlsoBank of Baroda Fixed DepositRBI new FD rule: 10 banks that have revised fixed deposit terms after RBI rule change
FD interest rates above 9%; use this strategy to maximise returns from fixed deposits
Maximising returns from FDs: When you use a fixed deposit ladder, you don't need to predict interest rate changes to find the best time to book your FD. Instead, you should book according to your ladder requirements. This way, the impact of interest rate changes is spread out because some FDs may be booked at lower rates while others may be booked at higher rates.
9.75% FD interest rate: This bank hikes fixed deposit rates by up to 50 bps, now offers 'highest' FD rate in India
Highest FD interest rate: After the hike, the bank is offering rates of up to 9.25% for the public and 9.75% for seniors. As per the bank's announcement, NESFB has raised the interest rate on fixed deposit products from 9.25% to 9.75%.
Limited period higher FD interest rates up to 8%: 3 banks' special fixed deposits will close next week
Bank FDs with higher interest rates: Banks such as IDBI Bank, Indian Bank, and Punjab & Sindh Bank offer special fixed deposit schemes with a deadline set in June.
FD interest rate up to 9.1%: 9 banks have revised fixed deposit terms, rates after new RBI rule
FD interest rates in June: The RBI announced the proposal to revise the definition of bulk fixed deposits. Here is a list of banks that have revised the date and updated their retail deposits from Rs 2 crore to Rs 3 crore.
Up to 8.6% interest rate on corporate FDs: 5 highest company FD interest rates for you
Corporate fixed deposit: You can get up to 8.6% interest rate on coporate fixed deposits. However do keep in mind corporate FDs have no insurance from Deposit Insurance and Credit Guarantee Corporation (DICGC) in the event of a default by the company. Read here to know more about interest rate of various corporate FDs.
This FD amount will soon be considered as retail FD; RBI to review bulk FD limits
Bulk FD amount of bank: The new proposal has been announced by RBI in the Monetary Policy Committee announcement today. The central bank said that necessary guidelines will soon be issued.
RBI MPC: Experts decode policy impact on markets, sectors
Adhil Shetty, Vikas Garg, and Naveen Kulkarni opine on the RBI MPC policy, and how it would affect market sentiment, and pave the way for economic growth.
High FD interest rates may not last long despite RBI status quo; is this the last window to book fixed deposits at higher rates?
FD Interest Rates: RBI in its MPC meeting on June 7 kept the repo rate unchanged at 6.5%. This marks the eighth consecutive MPC with status quo, benefiting fixed deposit investors with high rates. However, going forward the interest rate cycle to reverse. The potential for a rate cut later in the year is anticipated.
'Acche din' to continue for FD investors as high fixed deposit interest rates will not drop soon: All eyes on RBI MPC on June 7
The Reserve Bank of India (RBI) will likely keep the repo rate unchanged in the upcoming monetary policy committee review. The question now is how long will the high-FD rate regime continue. Also, what should be the best strategy for your short-term and long-term fixed deposits? ET Wealth Online spoke to experts and here's all you need to know.
SBI Sarvottam FD with 7.9% interest rate vs Canara Bank vs Bank of Baroda fixed deposits
Banks can offer higher interest rates on deposits of over Rs 15 lakh wherein the customers do not withdraw prematurely, according to the Reserve Bank of India (RBI).
FD interest rate up to 9.25%: These 5 banks have revised fixed deposit rates in April
Bank FD interest rates in April 2024: Let us take a look at the banks that have revised fixed deposit interest rates in April 2024.
Rates of RBI Floating Savings Bonds offering 8.05% to be reviewed soon; will it change from January 1, 2024?
The interest rate of RBI Floating Rate Savings Bonds (FRSB) 2020 (Taxable) is linked to the interest rate of the National Savings Certificate (NSC), a small savings scheme offered by the Union government. The bond will pay 0.35% higher than what NSC offers. The interest rate of RBI Floating Rate Savings Bonds is due for revision on January 1, 2024. Will the interest rate of RBI Floating Rate Savings Bonds go up or come down next year? Read here to find out
Up to 9% interest rate: Corporate FDs vs bank fixed deposits; Which offers higher interest rate?
What is a corporate FD: Similar to bank fixed deposits, corporate FDs provide interest earnings and offer flexibility in choosing the investment amount and duration. Fixed Deposits serve as a popular choice for long-term investments, particularly for older investors aiming for a secure retirement. The tenure period plays a crucial role in determining when investors will receive returns before maturity. In corporate fixed deposits, the tenure typically ranges from six months to 5 years, offering a shorter duration compared to bank fixed deposits.
FD interest rate up to 8.1%: Top banks offering highest interest rates on 1-3 year fixed deposit tenures
Highest FD rates: Fixed deposits with terms ranging from one week to ten years are available for selection. Here are top banks fixed deposit interest rates for tenures ranging from 1 – 3 years.
FD interest rates of 8-9% to continue for a longer period as RBI holds repo rate; how to invest in fixed deposits
Fixed deposit investors have been rejoicing a high interest rate regime for last one year when RBI last hiked the repo rate in February last year to 6.5%. However, the interest rate cycle is due for reversal and hence the rates are likely to fall sooner or later. However, with RBI holding the rate in current MPC the rate reduction exercise has been pushed further by a few months. FD investors are not complaining.
RBI MPC announcements today: FD investors likely to get more time to book fixed deposits at current high rates; all eyes are on RBI
RBI MPC announcements on April 5, 2024: Fixed Deposit (FD) investors will keenly watch the Reserve Bank of India's (RBI) first Monetary Policy Committee (MPC) meeting of the new financial year, scheduled today. RBI Governor Shaktikanta Das will unveil the MPC's decisions on interest rates on Friday, April 5, 2024. The repo rate, the benchmark interest rate set by the RBI, serves as a key determinant of FD interest rates. RBI monetary policy announcement is crucial for FD investors seeking clarity on the future trajectory of interest rates. How FD interest rates are likely to change in the next few months and how FD investors can make the most of this scenario
Income tax saving ideas: With 8.2% interest, Senior Citizen Savings Scheme (SCSS) is a better bet to save tax than tax-saver FDs
Tax saving for FY 23-24: Senior Citizen Savings Scheme vs tax-saving fixed deposits: Fixed deposits (FDs) have long been a popular choice for senior citizens seeking secure investments with fixed returns and saving tax. But this year, the Senior Citizen Savings Scheme (SCSS) is offering an attractive interest rate, making it a potentially better option for retirees. While both SCSS and tax-saving FDs offer benefits, understanding their key features can help seniors make an informed decision in this tax-saving season.
FD interest of up to 7.9%: Want higher rate on your tax-saving FD? Book it right now
Tax Saving FD: Tax-saving fixed deposits (FDs) are one of the investment options that will offer a deduction of up to Rs 1.5 lakh under Section 80C of the Income-tax Act, 1961. You can invest a maximum of Rs 1.5 lakh in a tax-saving FD. It comes with a tenure of five years. As FD interest rates are close to their peak seen in the past 3-4 years, is this a good time to invest in tax-saving FDs as the interest rate cycle is about to turn around?
Window to book FDs at current higher interest rates shrinks despite RBI holding repo rate; what FD investors should do now
Fixed deposit investors should be prepared for a downward trend in interest rates. The 10-year government bond yield has already fallen and is expected to continue decreasing. Whenever interest rate starts falling, the short to medium-term FD rates will be affected first, so investors should consider booking their FDs soon.
FD investors: Final call to book fixed deposits at high interest rates? All eyes on RBI MPC meeting on February 8, 2024
Fixed deposit interest rate: The Reserve Bank of India (RBI) will announce the decisions of the central bank’s Monetary Policy Committee (MPC) on February 8, 2024. The central bank is likely to hold the repo rate again in the upcoming monetary policy review, experts say. But this stance may not continue for too long. How does the decision of the RBI MPC impact the investors, especially fixed deposit (FD) customers?
Fixed deposit: Is it the last window to book FDs at high interest rates as RBI pauses repo rate?
Interest rate on fixed deposits have risen significantly however they are yet to match the rise in RBI repo rate hike of 2.5% seen since May 2022. May depositors were hoping that rate will rise further but hardly any bank has raised the rates significantly in last 1-2 months. However, tight liquidity in banking system and uncertainty about inflation movement may make a case for a higher rate on FDs. However, it may not be long lived and overall interest rate on FDs are likely to fall in coming months. What should depositors do?
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