Deposits

Irrespective of the income you earn every month, you can save a small part for a prosperous future. There are several methods to invest your money safely without affecting your monthly expenses.

When you have a surplus amount in hand, you might look for various options to invest your money. While some of the investments can be scary, Fixed Deposit is a safe method of investment with a guaranteed return after the date of maturity. It is one of the most popular and traditional investment instruments.

Is it a good time to switch money from FD to mutual funds?Indians are very conservative when it comes to money. The importance of saving money is instilled from childhood and for most the best way to save money is through fixed deposits (FD). The reason FDs occupy this sacred space of trust in Indian families is because it is secured, i.e. the banks guarantee your capital invested. So, whenever they got a bonus they invested that money in FDs. The other main reason f

Should You Prefer Smaller Banks for Fixed Deposit Investment?Fixed deposit is one of the best saving instruments to obtain higher interest after the maturity date. Many choose Fixed Deposit over other saving methods as it offers safety and surety of returns. In recent days, well established-banks have lowered the interest rate on Fixed Deposit schemes and on the contrary the new and small banks provide higher interest rate. If you are wondering whether the

All You Need to Know About NRE and NRO Accounts and Taxation in IndiaIndia has the largest diaspora population in the world with more than 16 million people living outside the country. Being a Non-Resident Indian(NRI), the income earned by you outside India is exempted from tax. However, is the interest accrued from such income taxable in India?Read on further to know more about a Non-Resident External (NRE) and Non-Resident Ordinary account and taxations in India.

Keen to invest in bank FDs? Follow these steps to get best out of your fixed depositsFixed deposits are always considered a safe bet when it comes to savings. Our parents and grandparents have instilled this investment heuristic in us for generations. Many consider the fixed deposits an investment that does not require any deep analysis and assured gain even if these gains are low when compared to other investment opti

Got Your First Salary? Budgeting Tips for Effective Finance ManagementExcitement is usually quite high when your first salary gets credited to your bank account. The tendency will generally be throwing up a party to your friends and share your happiness. You should also keep in mind that from now on, you step into the world where your financial independence becomes your crucial responsibility. We have put together some important tips on how you can manage your finances

All You Need To Know About The Interest Cuts In Saving Schemes in 2017Small savings schemes are the best financial instruments that provide safe investment options and attractive returns for the public.  Public Provident Fund (PPF), Kisan Vikas Patra (KVP), National Saving Certificate, Senior Citizens Saving Scheme, Sukanya Samriddhi Yojana are some of the schemes that facilitate your saving plans. However, the recent changes announced by the Finance Ministry may for

Saving Vs Investing - What are the differences?A healthy financial status is a sign of prosperous life. To ensure that one must set his/her financial goals at the earliest. When it comes to financial goals, we are familiar with these two terms Saving and Investing. Knowing the subtle difference between the two will help you become financially prudent.Definition of SavingSaving could mean an amount l

Loan Against Fixed DepositA Fixed Deposit (FD) is one of the most popular way of investing money in India. Conservative investors prefer investing in an FD account as it is a safe form of investment that gives fixed assured returns. The idea behind an FD is that you deposit a lump amount with the bank for a certain period and earn interest income on it. Once the term deposit matures, the bank transfers the principal amount along with the interest earned to the acco

How can you save money? It can be a source of comfort to have a nest egg of savings to fall back on in case of an unfortunate personal financial crisis. Anyone can face a financial emergency brought on by a variety of unforeseen circumstances – medical treatment, loss of a job, money required for higher studies.  You never know when you need that crucial extra financial support that can help you keep your head above water. Your savings work as an em

Tips for Calculating Interest on Savings Account A savings account is the most common form of an interest-bearing deposit account which is held with a bank or NBFC that provides a nominal interest rate. The average interest rate offered by banks in India is 4% per annum - depending on the daily balance and other parameters. Some banks even offer up to 7% per annum. Banks are free to set their own interest rates on a savings bank account after the RBI deregulated inter

7 Tips on How to Invest in High Interest Fixed DepositsMost Indians are familiar with the term “Fixed Deposit”. A Fixed Deposit (FD) is one of the most popular financial instruments among investors in India as it provides a higher rate of interest than a regular savings account, but is low risk at the same time. It is considered one of the safest forms of investments. Here are some of the features of a fixed deposit:a. Easy to open with simple do

Want a safe way to save money? Don’t have ready extra cash in a lump sum to invest in a fixed deposit? No problem. There are a multitude of safe saving options available with banks today and a recurring deposit might be the best option for you. First, what is a Recurring Deposit (RD)? It is a form of a term deposit which allows you to deposit a fixed amount of money on a regular basis and enjoy the same higher interest rate as a fixed deposit. So while you need to put in a lump

Yes Bank offers an interest rate of 6% per annum for savings bank accounts with balances of less than Rs 1 crore with effect from November 2015.  The rate is subject to change at any time.Yes Bank Interest rate on savings account Yes Bank currently offers an interest rate of 6% p.a. on savings bank accounts which is higher than most other banks. Earlier, the RBI had laid down a uniform interest rate on savings accounts for all banks which meant tha

The PPF (Public Provident Fund) scheme is one of the most popular investment schemes among Indians. The various benefits – tax-saving, guaranteed returns, safety make it the number one choice for millions of investors.

Punjab National Bank (PNB) currently offers an interest rate of 4% per annum for savings bank accounts.  The rate is subject to change at any time.PNB Interest rate on savings accountMost banks, including PNB, offer an interest rate of 4% p.a. on savings bank accounts. Earlier, the RBI had laid down a uniform interest rate on savings accounts for all banks which meant that there was no difference in the amount you earned as interest, regardless of which

IDBI Bank currently offers an interest rate of 4% per annum for savings bank accounts.  The rate is subject to change at any time.IDBI Bank Interest rate on savings accountMost banks, including IDBI Bank, offer an interest rate of 4% p.a. on savings bank accounts. Earlier, the RBI had laid down a uniform interest rate on savings accounts for all banks which meant that there was no difference in the amount you earned as interest, regardless of which bank

A fixed deposit or term deposit is one of the safest and most popular forms of investment in India. It has been traditionally seen as a reliable way of investing money, with none of the volatility and risks associated with other investments like the stock market. It is simple to open a fixed deposit and requires minimal documentation.A fixed deposit (FD) is a financial instrument that offers a higher in

A fixed deposit or term deposit is one of the safest and most popular forms of investment in India. It has been traditionally seen as a safe and reliable way of investing money, with none of the volatility and risks associated with other investments like the stock market. It is simple to open a fixed deposit and requires minimal documentation.A fixed deposit (FD) is a financial instrument that offers a higher rate of interest when compared to interest earned in a regular savings acco