NHB launches three fixed deposit schemes

Apex housing financial institution National Housing Bank (NHB) on Thursday launched three fixed-deposit schemes, including a

tax-saving scheme, which carries interest rate up to 9.25 per cent.

"The funds mobilised would be used by the NHB for its business activities," the NHB said in a release.

Under the NHB Sunidhi term-deposit scheme, the investors will get 9.25 per cent interest for 12 months and 9 per cent interest for up to five years.

NHB tax saving Suvrigdhi will pay an interest rate of 8.75 per cent. The deposit will have a lock-in period of five years.

In addition, NHB has launched Sumeru zero-coupon bonds which will be sold at a discount at Rs 4,360 with a face value of Rs 10,000 that the holder will get after a maturity period of 10 years.

For information visit to: http://www.fixeddepositindia.blogspot.com

Source: Economictimes

New fixed deposit scheme

To mark its 80th anniversary, the South Indian Bank has introduced a new fixed deposit scheme – 80 Plus - offering 11 per cent interest (11.25 per cent for senior citizens) on deposits for 39 months with a minimum investment of Rs.50,000.

Each depositor will also get a free personal accident insurance cover of Rs.1 lakh. The scheme would be launched on January 20 in Delhi, said the bank.


For more information visit to: http://www.fixeddepositindia.blogspot.com


Source:hindu.com

State Bank to hike fixed deposit rates from today

Soon after reducing deposit rates, State Bank of India (SBI), has revised upwards its rates in certain segments of its domestic term deposits. The new rates come into force from Friday. While the deposit rates have been kept unchanged for a maturity period up to 90 days, the bank has increased the rates on deposits maturing between 91 and 180 days to 7%.

The rate for 181-365 days will now be 7.50%, as against the existing rate of 6.50%. The rates for maturity periods of 1 year to less than 2 years and for the period 2 years and up to 10 years have been increased to 8.75 % and 8.50 % respectively.

Requesting anonymity, a senior bank official told FE, “We have aligned our rates to bring them in sync with other banks”. It was recently that banks like IDBI, Corporation Bank, HDFC, and Indian Overseas Bank increased their interest rates on deposits from the earlier existing 6.50% to 7.25%, on deposits with a maturity period of 91-179 days.

For senior citizens, the bank has revised the two maturity periods. The revised interest for the duration 1 year to less than 2 years is 9.25%, whereas the revised rates for period more than two years and up to 10 years is 9%. The bank has withdrawn its deposit rate offering, having a duration of 550 days.

After managing to streamline its deposit rates, the bank now faces a nationwide strike on January 25, called by various unions, to protest the impending merger of State Bank of India’s associate institutions with itself.

For more information visit to: http://www.fixeddepositindia.blogspot.com

Source : financialexpress

New fixed deposit scheme from Karnataka Bank

The Mangalore- based Karnataka Bank Ltd. has launched a new fixed deposit scheme for 365 days with effect from Friday at a simple interest of 8.25 per cent. According to a press release by the planning and development department of the bank here on Saturday, the interest is payable to the depositor on maturity date. Nomination facility is available to the depositor under the scheme. The scheme is open for a limited period only.


For more information visit to : http://www.fixeddepositindia.blogspot.com


Source: Hindu.com

Fixed deposit: The best and secured way to save money

Though the economic position of all the countries is going on up and downs all over the world, the banking system in India is so strong till now. As the encroachment of the credit crunch and raising speculation are the main reasons of the present day financial crisis, people get fear to invest their money in share market.

The businessmen in India have positive feeling regarding their financial position. As the economic position of India is mostly based on the government organizations, the speculation and financial criss have not shown much effect on Indian economy. If you study the present economic position of India, you can come to a conclusion that investing in a stock market or mutual funds will make you to face many problems. A lot of insecurity and confusions are faced by the investors, who want to invest in their money in public or private sectors. In these situations, they are searching for the best alternatives to save or invest their money.

Many of the economists in India say that going for fixed deposit is the right solution, when it compared to all the other sources where you can invest your money. This is the best source to rescue from the present liquidity crisis.

The fixed deposit is nothing but an account that allows the people to deposit their money for a period of some time. Depending on their convenience, people can choose the deposit period that say for a minimum period of 15 days to 5 years and more than that. When the deposit period comes to an end, the depositors will get high amount of interest on their deposited money. Depositing money in Indian banks is safer than other sources as the all the banks in India are under the control of Reserve Bank of India.

The main advantage of going for these deposits is that the depositors get high interest rates than the saving bank account holders. They will get lump-sum of money at a time, after the completion of maturity period of the deposit. Moreover, people do not get any insecure feeling on their deposits. The fixed deposits have been playing a prominent role, since the banking system has been introduced in the Indian economy market. They are one of the beneficial saving methods. Some years ago, people showed great interest for going long term deposits. But, now-a-days, due to the drastic changes that are occurred in the economic position of India, most of the investors want to go for short term fixed deposits.

The interest rates of the fixed deposits vary from one bank to another bank. To extend their services as well as to attract all segments of the investors, most of the banks in India offer many facilities to their customers, who want to deposit money in their banks. One of the main facilities is that the over draft facility which allows the depositors to draw money on the deposited amount, before the completion of the maturity period of deposit. On the request of depositors, some of the banks can transfer the interest amount on fixed money to the current or saving account of the depositor.

The minimum fixed amount can range from RS. 100 to an unlimited amount. If any one wants to open a fixed deposit account in a bank, he should inquire about the interest rates of all the banks. Some of the websites over the Internet help you to find the best bank that offers high amount of interest rates on depositing money.

For Any Query visit http://fixeddepositindia.blogspot.com

Source:bestsyndication