Have you ever faced a situation wherein you got your debit card linked to a portal for a monthly subscription to use a service such as Netflix or something else? And now you want to discontinue the service with immediate effect? There could be a number of reasons for this. Either you enrolled for it … Read more
Prior to investing in a fixed deposit (FD), depositors tend to compare the interest rates offered by different banks so that they can choose one bank over the other. Typically, the rate of interest and the tenure of FD go hand in hand. This means the longer the FD tenure, the higher the interest rate. … Read more
Before you decide to open a fixed deposit (FD) account in a bank, it is incumbent upon you to compare the interest rates offered by different banks. The interest rates usually do not vary much from lender to lender. However, there is a rule of thumb that applies to most lenders uniformly —the longer the … Read more
Prior to investing in a fixed deposit in a bank, depositors are recommended to compare the interest rates of different banks. This can help them maximise their earnings. Typically, depositors opt for a bank with which they share a long-term banking relationship. However, it should not be seen as a rule of thumb. Sometimes, a … Read more
When people invest in a term deposit, they generally look for a bank that offers the highest rate of interest. The rule of thumb is that the longer the tenure of the deposit, the higher the interest rate. For instance, short-term bank FDs (up to six months) generally offer an interest rate between 3 and … Read more
The Reserve Bank of India (RBI) penalised five banks including Punjab National Bank (PNB) with various RBI directions, reported The Economic Times. RBI imposed a penalty of ₹1.31 crore on PNB, which became the fifth bank for getting the wrath of the banking regulator. Other banks fined by the RBI are The Gujarat Rajya Karmachari … Read more