The best Interest Rates on Term/Fixed Deposits in India, as of November 2011 are:
Short Term (Approximately around 6 months)
Bank NameRate of InterestDeposit PeriodHDFC Bank7.75%6 month 16 daysICICI Bank7.75%190 daysPunjab National Bank8%180 days to Less than 1 yearState Bank of India7.25%91 days to 179 daysIndian Bank7.75%181 days to 9 monthsAxis Bank7.5%6 months to Less than 1 yearKarur Vysya Bank7.65%31 days to 270 daysIndian Overseas Bank7.75%91 days to 120 daysIDBI Bank8%91 days to Less than 6 monthsKotak Mahindra Bank7.75%91 days t0 180 days
Long Term (1 year or More)
Bank NameRate of InterestDeposit PeriodHDFC Bank9.25%1 year 16 daysICICI Bank9.25%390 daysPunjab National Bank9.35%777 daysState Bank of India9.25%Greater than 1 yearIndian Bank9.5%1 to 3 yearsAxis Bank9.4%1 year to 14 monthsKarur Vysya Bank9.75%1 to 3 yearsIndian Overseas Bank9.25%444 daysBank or Baroda9.35%444 daysIDBI Bank9.5%500 daysKotak Mahindra Bank9.5%1 year to 389 days
Yes. Any action where our money earns us some more money is an investment. In case of fixed deposits, banks pay us a fixed rate of interest on our deposits which is an income that our money is earning for us. So, definitely it is an investment.
Fixed deposits come in various types to cater to diverse financial needs: Regular Fixed Deposits: Standard fixed-term deposits with a predetermined interest rate. Senior Citizen Fixed Deposits: Tailored for elderly individuals, offering higher interest rates. Tax-Saving Fixed Deposits: Provide tax benefits under Section 80C of the Income Tax Act. Cumulative Fixed Deposits: Interest is compounded and paid along with the principal at maturity. Non-Cumulative Fixed Deposits: Interest is paid at regular intervals, providing a steady income stream. Special Fixed Deposits: Customized options with unique terms and conditions, often offered by specific banks. Each type serves specific financial objectives, allowing investors to choose based on their preferences and requirements. Shriram Finance offering flexible tenures and returns of up to 9.20%* p.a. (Including 0.50%* p.a. for Senior Citizens and 0.10%* p.a. for Women)
No FD's are not bought. They are types of deposit account which are opened in banks for a fixed period....
Yes. All services provided by banks like savings accounts, fixed deposits, loans etc have interest rates. Usually the rates on deposit products are much lower than the rates on loans. The banks makes a profit based on the difference in interest rates between these two products.
They both refer to the exact same thing. It is just two different terms by which we are referring to this deposit product. In this, a customer deposits a lump-sum amount with the bank for a fixed amount of time at a fixed rate of interest. In return, the bank gives a certificate to the customer which he/she can surrender after the stated time in return for the invested amount + interest. They are called Time Deposits, Certificate of Deposit, Fixed Deposits etc.
1. Increasing deposit rate of interest 2. Creating awareness among the public on the safety and use of fixed deposits 3. advertisements about the rate of interest and other schemes
Yes. Any action where our money earns us some more money is an investment. In case of fixed deposits, banks pay us a fixed rate of interest on our deposits which is an income that our money is earning for us. So, definitely it is an investment.
The interest rates on Fixed Deposits are fluctuating from time to time for every Banks like HDFC, IDBI, ICICI / NBFCs like Bajaj Finserv in India. However, the present scenario is speaking something near around to 8%.
Fixed deposits come in various types to cater to diverse financial needs: Regular Fixed Deposits: Standard fixed-term deposits with a predetermined interest rate. Senior Citizen Fixed Deposits: Tailored for elderly individuals, offering higher interest rates. Tax-Saving Fixed Deposits: Provide tax benefits under Section 80C of the Income Tax Act. Cumulative Fixed Deposits: Interest is compounded and paid along with the principal at maturity. Non-Cumulative Fixed Deposits: Interest is paid at regular intervals, providing a steady income stream. Special Fixed Deposits: Customized options with unique terms and conditions, often offered by specific banks. Each type serves specific financial objectives, allowing investors to choose based on their preferences and requirements. Shriram Finance offering flexible tenures and returns of up to 9.20%* p.a. (Including 0.50%* p.a. for Senior Citizens and 0.10%* p.a. for Women)
Fixed deposits placed with banks are considered as current assets. Current assets are always assets that can be liquidated within 1 year. Fixed deposits can be withdrawn at any time, eventhough their placement periods can be longer than a year.
fixed deposit A/c dr. to int on fixed deposit
No FD's are not bought. They are types of deposit account which are opened in banks for a fixed period....
One of the main functions of banks is to accept deposits. Deposits may be fixed, saving, current etc Banks will have to pay interest to the customers on the basis of the amount deposited by them. Deposits are used for the purpose of lending but since banks are using other peoples money to do business, it should make shure that it will be able to repay the deposits to the respective customers when they claim for it. The management of all this is called deposit management.
Yes. All services provided by banks like savings accounts, fixed deposits, loans etc have interest rates. Usually the rates on deposit products are much lower than the rates on loans. The banks makes a profit based on the difference in interest rates between these two products.
Deposits offer only a fixed rate of interest. Though this rate of interest gets changed once in a while, a deposit which was opened before this interest rate change does not get altered. It will continue to earn the same rate of interest as was promised when the deposit was opened.
They both refer to the exact same thing. It is just two different terms by which we are referring to this deposit product. In this, a customer deposits a lump-sum amount with the bank for a fixed amount of time at a fixed rate of interest. In return, the bank gives a certificate to the customer which he/she can surrender after the stated time in return for the invested amount + interest. They are called Time Deposits, Certificate of Deposit, Fixed Deposits etc.
12 .5 % for senior citizens