If you want to make the most of the high interest rates that prevail in the current market, you may consider locking some of your savings into fixed deposits. Since equity markets are declining on foreign investors’ selling spree and Nifty50 is already 8 per cent down from its all-time high, parking your money in … Read more
In India, where family ties are deeply rooted, it’s common for grandparents to think about the future financial well-being of their grandchildren. This cultural tradition stems from a sense of legacy, love, and responsibility. Grandparents, having lived through various financial ups and downs, often want to secure a stable foundation for the next generation. Beyond … Read more
I’m in my early 30s, married with a young child, and working in an IT company for 10 years. I’ve saved in mutual funds, fixed deposits, PPF, and stocks. We currently live in a rented apartment, but I’ve found a property that fits our budget. The house costs ₹85 lakhs, requiring a ₹25 lakh down … Read more
Typically, banks offer fixed deposits with a maximum tenure of 10 years. There is no bank that offers an FD with a tenure longer than 10 years. This may change soon. Suryoday Small Finance Bank plans to stretch the maximum tenor of a Fixed Deposit (FD) to over 20 years, and the depositors will also … Read more
Fixed-income investments such as fixed deposit (FD) interest, bond interest, and debt mutual funds are typically taxed at the marginal rate (slab rate). The 2023 budget had abolished the benefit of long-term capital gains tax or LTCG for debt mutual funds. However, there’s a notable exception in the tax system for certain bond transactions. If … Read more
What is a secured credit card? It is a type of credit card issued against the security of a fixed deposit. If you don’t have a CIBIL score, you can open a new fixed deposit or offer an existing fixed deposit and ask the bank to offer you a secured credit card against it. The … Read more
If you want to double your money in the next 7 to 10 few years, your first choice, arguably, would be to invest into equity. Conservative investors, meanwhile, tend to opt for fixed income instruments such as fixed deposits (FDs) partly for wealth creation and partly for keeping their money safe & secure. Those who … Read more
However, in March 2024, some banks increased their fixed deposit rates. In the case of most banks, the current fixed deposit interest rates being offered are at a decadal high. So, are these the best interest rates on fixed deposits? And should you lock into these high fixed deposit rates? Let us discuss. Also Read: … Read more