Not only this, many banks have also discontinued their special tenure FDs like SBI’s Amrit Kalash and Bank of India’s 400-day scheme. But the good thing is that some banks are still offering good interest rates on 3-year FDs, which is a matter of relief for common investors and senior citizens.

Which banks are offering the best interest rates?

1. Equitas Small Finance Bank

General public: 7.75%, Rs 1 lakh will become Rs 1.26 lakh

Senior Citizen: 8.25%, Rs 1 lakh will become Rs 1.28 lakh

2. AU Small Finance Bank

General public: 7.5%, Rs 1 lakh will become Rs 1.25 lakh

Senior Citizen: 8%, Rs 1 lakh will become Rs 1.27 lakh

3. Canara Bank

General public: 7.2%, Rs 1 lakh will become Rs 1.24 lakh

Senior Citizen: 7.7%, Rs 1 lakh will become Rs 1.26 lakh

4. Bank of Baroda

General public: 7.15%, Rs 1 lakh will become Rs 1.24 lakh

Senior Citizen: 7.65%, Rs 1 lakh will become Rs 1.26 lakh

5. HDFC, ICICI and Axis Bank

General public: 6.9%, Rs 1 lakh will become Rs 1.23 lakh

Senior Citizen: 7.4%, Rs 1 lakh will become Rs 1.25 lakh

6. State Bank of India (SBI) and Punjab National Bank (PNB)

General public: 6.75%, Rs 1 lakh will become Rs 1.22 lakh

Senior Citizen: 7.25%, Rs 1 lakh will become Rs 1.24 lakh

7. Union Bank of India

General public: 6.7%, Rs 1 lakh will become Rs 1.22 lakh

Senior Citizen: 7.2%, Rs 1 lakh will become Rs 1.24 lakh

8. Bank of India

General public: 6.5%, Rs 1 lakh will become Rs 1.21 lakh

Senior Citizen: 7%, Rs 1 lakh will become Rs 1.23 lakh

9. Indian Bank

General public: 6.25%, Rs 1 lakh will become Rs 1.20 lakh

Senior Citizen: 6.75%, Rs 1 lakh will become Rs 1.22 lakh

Who should invest?

If you want safe and fixed returns by investing in FD, then Equitas and AU Small Finance Bank are currently paying the highest interest. For senior citizens, these banks are paying more than 8% interest, which can be a good option in the current environment. Interest rates can change, so before investing, get the latest information from the bank’s website or branch. The interest received on bank FD is taxable.

The benefit of additional interest for senior citizens will be available only to those who are 60 years of age or above. If you are looking for safe investment with guaranteed returns, then 3-year FD schemes of small finance banks are still a good option.

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Funds can be transferred only in different schemes of a mutual fund company
STP proves to be very beneficial in a falling market, which helps in reducing your losses to a great extent. With the help of STP, you can withdraw money from an equity scheme and transfer it to a debt scheme. Similarly, you can also withdraw money from a debt scheme and invest it in an equity scheme. Keep in mind that through STP, you can transfer funds only to different schemes of a single mutual fund company. You cannot transfer funds deposited in the scheme of one company to the scheme of another company.

There are 3 types of STP

There are three types of options available in STP – Flexible STP, Fixed STP and Capital Systematic Transfer Plan. STP has many benefits. When the market is falling, you can switch from one scheme to another to limit your losses. Apart from this, you can also save tax by transferring funds from equity scheme to ELSS scheme. This helps you manage risk.

You can increase returns by reducing risk and loss
With the help of STP, you can transfer your funds from one scheme to another and not only reduce your risk and loss but also increase your returns. With its help, you can transfer funds from highly volatile schemes to stable schemes.

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Now the Employees’ Provident Fund Organization (EPFO) has made nomination mandatory for all EPF members. EPFO deprives the EPF account holder of many of its services if he does not declare his nominee in the account. These facilities also include checking the balance of PF account.

By being a nominee, after the death of the account holder, the money goes to the person to whom the account holder wanted to give it. An account holder can also become more than one nominee. You can do online nomination (E-Nomination) in EPFO ​​account.

E-nomination is very useful in providing PF benefits to the PF account holder and his family. Online claim and settlement of provident fund, pension, insurance benefits in case of death of a PF subscriber is possible only when e-nomination is done. If the employee has not mentioned a nominee and the employee dies, his heir has to go to the civil court to obtain succession certificate for release of PF.

Who can be made the nominee?

Actually, the rule is that the PF account holder can make nominees only for his family members. If a person does not have a family, then in that case he can also declare any other person as his nominee. After making someone else a nominee, if the family’s address is known then the nomination of the non-relative gets cancelled. An EPF account holder can make more than one nominee. If there is more than one nominee, more details have to be given. It has to be clearly stated as to how much amount is to be given to which nominee.

E-nomination is mandatory.

EPFO ​​has made e-nomination mandatory. If a member does not do e-nomination then he cannot see his PF account balance and passbook. For e-nomination, the account holder’s UAN must be active and the mobile number must be linked to Aadhaar. The online account holder can also do e-nomination sitting at home.

This is the method of e-nomination

• Log in to the official website of EPFO, epfindia.gov.in.
• In the ‘Service’ tab, click on the ‘For Employees’ tab from the drop-down menu.
• Now log in with your UAN.
• Manage tab will appear. Select e-nomination in this.
• Now fill your permanent and current address.
• To change the family declaration, select Yes.
• Enter the nominee information and click on Save.
• Now click on the e-sign icon and proceed.
• Enter your Aadhaar number and also fill the OTP received on the registered mobile number.
• After completing this process, your nomination will now be updated.

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Yes Bank is now offering an interest rate of 3.25% on FDs maturing in 7 to 14 days and 3.70% on FDs maturing in 15 to 45 days. The interest rates offered by Yes Bank are 4.10% for FDs held for 46 days to 90 days and 4.75% for FDs held for 91 days to 180 days.

Yes Bank hikes FD rates on select tenors

Yes Bank has increased the interest rates of FDs maturing between 181 to 271 days and 272 to 1 year by 10 bps. They will now get interest at the rate of 6.1%, while FDs maturing between 272 to 1 year will now get interest at the rate of 6.35%. At the same time, the bank will pay 7.50% interest rate on FDs with maturity between 1 year and 18 months and 7.75% interest on maturity of 18 months to 36 months. On FDs maturing in 36 and 120 months, the bank is offering an interest rate of 7%.

Latest Yes Bank FD Rates

1. 3.25% interest will be available on FDs of 7 days to 14 days.
2. 3.70% interest will be available on FDs of 15 days to 45 days.
3. 4.10% interest will be available on FD of 46 days to 90 days.
4. 91 days to 120 days FD will get 4.75% interest.
5. 5.00% interest will be available on FDs of 121 days to 180 days.
6. 6.10% interest will be available on FDs of 181 days to 271 days.
7. 6.35% interest will be available on FD of 272 days to 1 year.
8. 7.50% interest will be available on FD of 1 year to 18 months.
9. 7.75% interest will be available on FD of 18 months 36 months.
10. 7.25% interest will be available on FD of 36 months to 60 months.
11. 7.00% interest will be available on FD of 60 months to 120 months.

Senior citizens will get 0.50% additional interest

Senior citizens will get an additional interest rate of 0.50% over and above the regular rates. Yes Bank is now offering interest rates on FDs maturing in 7 days to 10 years, which ranges from 3.75% to 8.25% for senior citizens.

The post Fixed Deposit: Interest rate increased on this bank FD scheme, now this will be more beneficial, know details first appeared on Rightsofemployees.com.

According to a notification of the Department of Posts, the competent authority has decided to start the e-passbook facility. 12.10.2022 National (Small) Savings Scheme to provide simplified and improved digital facilities to the account holders.

With the introduction of this facility, post office small savings customers will be able to access account details anytime, anywhere without the need for net banking or mobile banking access. The account holder can use the e-passbook facility through the registered mobile number. The notification states that this service will be available free of cost.

Facilities available under e-Passbook

• In this option, the user can view the balance balance of all National Savings Scheme accounts.
• The mini statement will be available for PO Savings Account (POSA), Sukanya Samriddhi Account (SSA) and Public Provident Fund Account (PPF) and will be extended to other schemes in a phased manner. The transaction will be displayed and the mini statement can be downloaded in PDF format.
• Full details will be made available in a phased manner. The customer will be able to generate the account statement for the specified date range.
• How to check PPF, Sukanya Samriddhi account balance
• Click on the e-passbook link given on www.indiapost.gov.in or www.ippbonline.com.
• Enter Mobile Number and Captcha) Login) Enter OTP) Submit

Select e-passbook

• Choose plan type
• Enter Account Number, Registered Mobile Number and Captcha.
• Continue and Enter OTP
• Please attest it
• Choose Option
• balance inquiry
• mini statement
• full description
• Balance or mini statement or full statement will be displayed depending on the service chosen by the customer.
• Mini statement and full statement can also be downloaded.
• If the mobile number entered is not linked with the account, the system will give the appropriate error message.
• In such cases account holders are requested to link the mobile number with their account by visiting the post office where the account is maintained.

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The services of the post office have been trusted by the whole of India for years. Being backed by the government, its savings schemes are absolutely risk free. Lakhs of people prefer to invest in post office schemes.

If you invest your money in post office schemes, then today we will tell you about one such scheme. This is the most profitable investment plan of the post office. In this scheme, you have to invest only Rs 170 per day and on maturity you can get a fund of Rs 19 lakh.

Save Rs 170 per day and get a great return of 19 lakhs

This post office scheme is best for people living in rural areas. Its name is Gram Sumangal Rural Postal Life Insurance Scheme. In this scheme, you can get better returns up to Rs 19 lakh by saving Rs 170 a day.

Any Indian citizen can take advantage of this scheme, this scheme can be taken for 15 years and 20 years. The age limit for taking the policy of Gram Sumangal Yojana is from 19 years to 45 years. The special thing is that any Indian citizen can take advantage of this. Let us tell you that in this scheme, on the survival of the policyholder, along with complete protection, the benefit of money back is also available. That is, the amount you invested will be fully refunded. At the same time, in the Gram Sumangal scheme, the policyholder also gets a bonus on maturity.

Sum Assured of Rs.10 Lakhs Under this policy, you get Sum Assured of Rs.10 Lakhs. At the same time, on the survival of the person during the policy, he gets a money back of up to 20 percent on 6 years, 9 years and 12 years. After this, along with the bonus on maturity, you also get the remaining 40 percent money.

Know, how much will be the bonus amount , if we talk about its bonus benefit, then the bonus amount for the premium term of 15 years will be Rs 6.75 lakh. If the premium term is 20 years, then the bonus amount will be Rs 9 lakh. Since the sum assured is Rs 10 lakh, the total benefit after 15 years will be Rs 16.75 lakh. After 20 years, the total maturity amount will be Rs 19 lakh.

The post Post Office Great Plan: Good News! This post office scheme is very beneficial, you will get great return on investment, know full details first appeared on Rightsofemployees.com.