Tax-saving fixed deposits (FD): There are several banks which offer more than 7% interest on tax-saving FD. However do note that if you have chosen the old tax regime then only under section 80C of the Income-tax Act, 1961 you may claim a tax deduction. The interest earned from tax-saving FD is always taxable.
Several leading P2P platforms have announced plans to discontinue instant withdrawal products by March 31, signalling a shift in strategy.
Several leading P2P platforms have announced plans to discontinue instant withdrawal products by March 31, signalling a shift in strategy.
FD interest rates in March 2024: Senior citizens are offered a higher rate of interest rate on FDs compared to those offered on general citizen FDs. Here's a look at small finance banks that provide higher interest rates on senior citizen fixed deposits.
Save income tax: Here's how you can claim income tax deduction on interest from bank FD, RD and savings account and save income tax. However do note that a higher limit of Rs 50,000 is available only for senior citizens whereas other individuals can claim the tax deduction up to Rs 10,000 on interest from savings bank account.
Prudent investors will likely reassess their asset allocation based on their risk profile and life stage. Recent developments may lead to a potential shift in allocation in favour of life insurance products, both unit-linked insurance plans (ULIPs) and traditional policies.
Small finance banks offer attractive interest rates on fixed deposits compared to private and public sector banks, with AU Small Finance Bank, Equitas Small Finance Bank, ESAF Small Finance Bank, Fincare Small Finance Bank, and Jana Small Finance Bank being some of the banks with high-interest rates. The interest rates for these banks became effective on specific dates.
Interest rates on FDs usually range from 8 to 8.5% in small finance banks now. Higher returns can be lucrative for many but how safe is it to invest in FDs in small finance banks? These nine banks provide high interest rates on fixed deposits. Here's a look at some small finance banks that provide quite high interest rates on regular fixed deposits.
Insurance was found to be the most prevalent financial investment among consumers followed by fixed deposits and mutual funds. A recent survey by ICICI Lombard highlighted that the Indian financially savvy customers have found the sweet spot when it comes to health insurance investments.
In India, where many women may not have grown up with the cultural expectation that they should drive financial decisioning, it can be even more of a challenge to personally take up the reins. A recent survey by DBS Bank India and CRISIL highlighted that about a majority female Indian earners take independent financial decisions in metros reflecting a momentum in financial independence.
There are many private sector banks who are offering an interest rate up to 8.1% on senior citizen fixed deposit (FDs). However it must be noted that if the interest from all the FDs in a particular bank exceeds Rs 50,000 then tax deducted source (TDS) would be deducted. Read here to know the senior citizen FD rates of top five private sector banks.
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