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Among the PSU banks, Union Bank of India is currently offering the best rate on 3-year FDs
Lenders are flush with funds in CASA accounts as people deposit money in banks for safe-keeping
The credit disbursed by the banks is an important indicator of the economic activity in the country
Multiple financial companies and NBFCs provide an option to deposit money for a fixed term at a prescribed interest rate
Many banks launched special FD schemes for senior citizens during the pandemic. The deadline to avail these schemes is June 30, 2021
PMC bank updates:
Small savings schemes news updates: Interest rates were slashed between 240-300 basis points over 9 years on different schemes
In the past few weeks various major commercial banks reduced their interest rates on FDs
A savings bank account is the most basic instrument and is considered the primary step of financial inclusion
Bank of Maharashtra has recorded a 13.45% increase in gross advances at Rs 1.07 lakh crore in 2020-21.
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Diversification is key and should be followed for stable and steady returns in the long run.
There is a need to continuously facilitate trade and industry and provide thrust to the growth promising sectors of Indian economy.
Government too will get its own fair share from the expanded capping on FDI as it is trying to trigger greater competition for spectrum auctions
The additional health related riders accompanied with term insurance plan allows tax-saving benefits up to Rs. 25,000
