Consider these 9 things before investing in mutual funds!
What is the right way to invest in mutual funds? How do mutual funds work? What kind of risk is involved? Which fund is right for whom? What things should be kept in mind before investing? Watch this video to know-
Just ahead of RBI monetary policy committee meeting, HDFC Bank, the country’s largest private sector lender, has hiked the interest rates on fixed deposits (FDs) for select tenures. They have hiked interest rates on their fixed deposits (FDs) by 0.10 percentage point. These rates are applicable from December 1, 2021.
After the latest revision, HDFC Bank is offering 2.50% to 5.50% interest rate on deposits maturing between seven days and 10 years to general public. But senior citizens will get 3% to 6.25% interest.
Let’s take a look at tenure-wise interest rates for general public deposit less than 2 crore:
7 days to 14 days, 15 days to 29 days: 2.50%
30 days to 45 days, 46 days to 60 days, 61 days to 90 days: 3.00%
91 days to 6 months: 3.50%
6 months 1 days to 9 months, 9 months 1 day to < 1 year: 4.40%
1 year: 4.90%
1 year 1 day to 2 years: 5.00%
2 years 1 day to 3 years: 5.15%
3 years 1 day to 5 years: 5.35%
5 years 1 day to 10 years: 5.50%
Compare
Fixed deposit in State Bank of India (SBI) between seven days to 10 years will give 2.9% to 5.4% interest to general customers. It offers up to 80 bps or 0.80 percentage point extra interest rates ranging from 3.40% to 6.20% on FDs to senior citizens.
ICICI Bank has also very recently revised FD rates. Now they are offering 2.5% to 5.5% interest for tenures between seven days and 10 years for general customer.