The State Bank of India (SBI), recently announced a welcome change for its customers: an increase in fixed deposit (FD) interest rates! This is good news for anyone looking for a safe and secure way to grow their money. Let's delve into the details and see if an SBI FD might be the right fit for you. What Changed? Effective May 15, 2024, SBI increased interest rates for … [Read more...] about State Bank of India Hikes Fixed Deposit Interest Rates
fixed deposit
Bank FD vs SCSS (Senior Citizen Savings Scheme) – Which Offers The Highest Interest Rate?
When we think about investing in our retirement, we face a multitude of questions. Which scheme is better? Which will give us better interest rates? Are we liable for any income tax benefits? Most of all, our goal is that our savings build on themselves, rather than just remain a lump sum amount. Today, we shall learn about one such revolutionary savings deposit scheme known as … [Read more...] about Bank FD vs SCSS (Senior Citizen Savings Scheme) – Which Offers The Highest Interest Rate?
What Is FD Laddering? How Is It Better Than Regular FD? | Try FD Laddering To Maximise Your Profits!
FD laddering is an investment strategy that involves dividing your investment amount into multiple fixed deposits (FDs) with different maturity dates. This creates a "ladder" of staggered maturities, which gives you the flexibility to access your money as needed while still earning a good return on your investment. For example, let's say you have ₹100,000 to invest. You … [Read more...] about What Is FD Laddering? How Is It Better Than Regular FD? | Try FD Laddering To Maximise Your Profits!
Post Office Time Deposit Scheme: Interest Rate, Features, Tax Benefits | Is It A Good Investment?
The Post Office Time Deposit Scheme is a government-backed savings scheme that offers guaranteed returns on investment. The scheme provides four different types of accounts with varying maturity dates, from one year to five years. Interest rates on post office time deposits are currently 6.90% to 7.50% per annum, depending on the tenure of the deposit. One of the key … [Read more...] about Post Office Time Deposit Scheme: Interest Rate, Features, Tax Benefits | Is It A Good Investment?
How To Select The “Best Bank” In India? What Are The Factors Someone Should Consider?
When someone asks me to suggest the "best bank" - I usually say I can't! It is because, everyone's purpose of choosing a bank differs. For some, having advanced technical features would be a plus. For the others, the same thing could be a minus! Some would prefer good, and respectful customer service. So it really comes down to one's own preference. There are many … [Read more...] about How To Select The “Best Bank” In India? What Are The Factors Someone Should Consider?