The FinTech Hub
Source: Live Mint As we are aware that the Reserve Bank of India (RBI) cut the repo rate by 50 basis points. This may continue further in the near future as the rate cut was seen as the onset of rate cut cycle by the banking regulator. Following this, one private bank has already slashed its savings…
Source: Live Mint The Reserve Bank of India (RBI) cut its repo rate from 6.50% to 6.25%, a 25 basis point decrease. This presents a problem for investors in Fixed Deposits (FDs) because a decrease in the repo rate usually indicates a future decrease in bank interest rates. This is the last chance for FD…
Source: Live Mint The new tax regime became a default regime in 2023 but Budget 2025 introduced a higher incentive for taxpayers by allowing zero tax for income upto ₹12 lakh, following which there is an expectation that around 90 percent of taxpayers will opt for it over old tax regime. However, one collateral damage of this…
Source: Live Mint IDBI Bank launched Chiranjeevi Super Senior Citizen Fixed Deposit Scheme early this month to offer interest up to 8.05 percent per annum. Under this scheme, the bank offers slightly higher interest rate to super senior citizens i.e., those who are aged 80 years or above. The highest fixed deposit interest offered to…
Source: Live Mint India’s biggest private lender, HDFC Bank, has revised fixed deposit (FD) interest rates for both senior citizens and the general public. For deposits in the range of ₹3 crore to ₹5 crore, the bank will now offer interest up to 7.40% for the general public and 7.9% for senior citizens on the…
Source: Live Mint At the time of opening a fixed deposit, it is recommended to compare the interest rates offered by different banks. Although most banks offer somewhat similar rates, a marginal difference of 40-50 basis points can raise your wealth considerably. Another factor that helps accumulate wealth is the tenure for which the deposit…
Source: Live Mint “Interesting” election results in three major world powers. Continued economic uncertainty in another one. And continued geopolitical tensions in yet another. To cut rates or not, the constant question. The threat and opportunities posed by the two letters, AI. In all this, 13%+ returns on the NIFTY 100 and 24%+ on the mid-cap…
Source: Live Mint Traditionally fixed deposits have been one of the most favourite and comfortable investment options for a large segment of Indians. Though other investment avenues like mutual funds and direct equities are gradually gaining importance, close to 15% of household savings still go into fixed deposits. Investing in fixed deposits could be mostly…
Source: Live Mint New Year 2025 is just around the corner, and it brings more than just resolutions: it is a chance to realign our financial goals for the year. Planning finances for the new year will require awareness of key changes in 2025, including fixed deposit rules, credit card benefits, visa regulations, etc. Being…
Source: Live Mint Before locking your money in a fixed deposit (FD), it is vital to compare the interest rates offered by different banks. Typically, most banks offer lower rates for shorter duration and higher interest for longer durations. Here we give a lowdown on one-year interest rates offered by most top banks – both…
