Fixed deposits: Large commercial banks in the country like SBI, HDFC Bank and ICICI Bank are offering maximum 5.50% interest on FDs.
Google Pay users can now book high-interest rate FDs fully digitally, without needing to open a savings account with Equitas Bank
The interest rates on FDs have reduced by a wide margin. The rates are hovering around just about 5% in public sector banks.
Different banks offer different interest across tenures. The rate of interest remains fixed till maturity once the deposit is made.
Punjab National Bank, Bank of India and Yes Bank also revised fixed deposit interest rates a few days ago.
Fixed deposits: DCB Bank is offering 7.11% interest rate on a three-year tenure till August 16
Money9 Helpline hosted Kairos Capital's Rishad Manekia to help our callers resolve queries on how to get started with financial planning in their 20s.
For it's Suraksha FD scheme, DCB Bank has collaborated with Aditya Birla Sun Life for it's life insurance policy
All the taxpayers must maintain all the necessary supporting documents to justify the transactions in case of any IT notice being served
While SWP in debt funds is much more tax efficient, a fixed return is not guaranteed