FD - Rightsofemployees.com

Nominee does not get the property, know who is the real owner as per law?

Pravesh Maurya — Wed, 23 Jul 2025 04:10:21 +0000

When a person dies, the family expects that their savings, insurance, PF, FD or bank account amount will come directly to them. Often the deceased has appointed someone as a nominee.

In such a situation, everyone assumes that the nominee will get the property of the deceased. But does this really happen? Does becoming a nominee make that person legally entitled to the property? Let’s know what the law says.

What and who is a nominee?

First of all, let us understand who is a nominee. When we open a bank account, invest in PF, LIC or mutual fund , we have to name a nominee. This means that if the account holder dies, the amount related to that account will be given to the nominee first. But this does not mean that the money or property belongs to the nominee. Actually, the nominee is only a trustee, that is, a responsible person to whom this amount is given temporarily, so that he can deliver it to the real beneficiaries.

Who is the real owner of the property?

Now the question arises- who is the real owner of the deceased’s property? The answer is- the person who is either named in the deceased’s will, or the heir decided on the basis of the succession law. For example, according to the Hindu Succession Act, 1956, after the death of the husband, his wife, son-daughter, parents etc. are his heirs. If no will is written, then the property is divided like this.

What does the law say? Know here

Indian law is quite clear on this subject. Under Section 39(7) of the Insurance Act, the insurance company is liable to pay the sum insured to the person who has been legally appointed as the nominee. But this does not mean that the sum becomes the property of the nominee himself. In fact, the nominee holds the sum as a trustee for the legal heirs of the deceased.

The post Nominee does not get the property, know who is the real owner as per law? first appeared on Rightsofemployees.com.

FD Rate: These 10 banks including SBI are giving around 8% interest on 1 year FD, see details

Jyoti — Sat, 05 Jul 2025 10:28:41 +0000

If you are planning to earn better profits by investing your savings in Fixed Deposit (FD) in the near future, then this news is useful for you. Actually, many big private and government banks are giving bumper returns to their customers on 1 year FD.

DCB Bank is also included in these which is giving 7.25 percent interest to its general customers on 1 year FD and 7.75 percent interest to senior citizen customers. Let us know about 10 such banks which are giving the highest interest to their customers on 1 year FD.

Here you are getting 7.50% interest

Tamilnadu Mercantile Bank is giving 7.25% interest to its general customers and 7.75% interest to senior citizen customers on 1 year FD. Canara Bank is giving 7% interest to its general customers and 7.50% interest to senior citizen customers on 1 year FD. Karnataka Bank is giving 7% interest to its general customers and 7.40% interest to senior citizen customers on 1 year FD.

Bank of India is also giving bumper returns

Deutsche Bank is giving 7% interest to its general customers and the same interest to its senior citizen customers on 1 year FD. While RBL Bank is giving 7% interest to its general customers and 7.50% interest to its senior citizen customers on 1 year FD. Apart from this, Bank of India is giving 7% interest to its general customers and 7.50% interest to its senior citizen customers on 1 year FD.

Bank of Baroda is offering 7.25% interest

State Bank of India is giving 6.80 percent interest to its general customers and 7.30 percent interest to senior citizen customers on 1 year FD. Whereas, Bank of Baroda is giving 6.75 percent interest to its general customers and 7.25 percent interest to senior citizen customers on 1 year FD. Apart from this, Central Bank of India is giving 6.75 percent interest to its general customers and 7.25 percent interest to senior citizen customers on 1 year FD.

Most Read Articles:-

The post FD Rate: These 10 banks including SBI are giving around 8% interest on 1 year FD, see details first appeared on Rightsofemployees.com.

FD Rate Cut: SBI gave a shock to its customers, reduced interest on FD this much for the second time in 1 month

Jyoti — Sat, 17 May 2025 09:42:31 +0000

State Bank of India (SBI) has once again shocked its customers. Actually, the bank has once again reduced the interest on FD. Let us tell you that SBI has cut its fixed deposit (FD) interest rates for both common people and senior citizens, which has become effective from May 16, 2025.

According to the bank’s website, SBI has cut FD rates by 20 basis points (bps) across all tenures. Last time SBI reduced interest on FD on April 15, 2025. That is, the second cut has happened just a month after the last FD rate cut.

Interest rates on FD after reduction

After the 20 bps cut by SBI across all tenures, SBI will offer interest rates on FDs between 3.30% and 6.70% per annum (without special FDs) for general citizens for amounts less than Rs 3 crore. Earlier, SBI was offering interest ranging from 3.50% to 6.9% per annum on FDs with tenures ranging from 7 days to 10 years.

Duration	Interest rates as on April 15	Interest rates from April 16, 2025
7 days to 45 days	3.5%	3.3%
46 days to 179 days	5.5%	5.3%
180 days to 210 days	6.25%	6.05%
211 days to less than 1 year	6.5%	6.3%
1 year to less than 2 years	6.7%	6.5%
2 years to less than 3 years	6.9%	6.7%
3 years to less than 5 years	6.75%	6.55%
5 years to 10 years	6.5%	6.3%

Interest rates of special FDs also cut

SBI has also cut interest rate on its special FD scheme Amrit Vrishti by 20 bps. “The typical tenure of Amrit Vrishti scheme is 444 days, which has been revised to 6.85% from 7.05% for general public,” according to the bank’s website. The bank offers interest rates between 4% and 7.50% (including SBI We Care) for senior citizens. Senior citizens are offered an interest rate of 7.35% per annum on SBI’s special FD scheme. After the revision, super senior citizens (aged 80 years and above) are offered an interest rate of 7.45% per annum.

The post FD Rate Cut: SBI gave a shock to its customers, reduced interest on FD this much for the second time in 1 month first appeared on Rightsofemployees.com.

Banks are offering 7.75% interest on 3-year FD, know here where it is beneficial to invest money

Jyoti — Fri, 02 May 2025 09:55:08 +0000

FD Rates : The Reserve Bank of India (RBI) cut the repo rate by 0.25% i.e. 25 basis points on 9 April 2025. A total of 0.50% has been cut since February 2025. Its effect is clearly visible on the fixed deposit (FD) schemes of banks. Most banks have reduced the interest rates on FDs. This has shocked those investors who prefer low-risk investments, especially senior citizens, whose source of income is FDs.

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.

The post Banks are offering 7.75% interest on 3-year FD, know here where it is beneficial to invest money first appeared on Rightsofemployees.com.

No lock-in period, No penalty FD… withdraw it from ATM whenever you want

Jyoti — Fri, 25 Apr 2025 05:12:58 +0000

Usually when you invest in an FD, you have to keep your money deposited till maturity. If you break it in between, you have to pay a penalty.

But SBI runs such an FD scheme for its investors, in which there is no hassle of lock-in period. You can keep the deposit in it for as long as you want and keep taking the interest on the FD and whenever you need, you can withdraw money from the ATM quickly. Know the special things related to this FD of SBI.

Know what this scheme is

We are talking about SBI (MODS) scheme. Its full name is SBI Multi Option Deposit Scheme. In this scheme, the depositor gets the same interest as on other FDs. The advantage of this scheme is that your money always remains liquid, that is, you can withdraw money anytime before the maturity of the FD without paying any penalty.

Facility to withdraw money from ATM

You can withdraw this money through ATM or cheque, just like you withdraw money from a savings account. Actually, this FD scheme is linked to the depositor’s savings or current account. In such a situation, depositors get the facility to withdraw the required amount from the FD anytime through ATM.

It is not necessary to withdraw the entire amount

Usually when you break an FD, you withdraw the entire amount, but in SBI (MODS) it is not necessary to do so. You can withdraw money according to your need in multiples of 1000 rupees i.e. 1,000, 2,000, 5,000, 10,000 rupees. After the amount withdrawn, you will continue to get FD interest on the remaining amount. It is not that the facility of withdrawing money is for one time, you can withdraw money many times in multiples of 1000 rupees.

These are the interest rates of SBI (MODS)

In SBI (MODS) you can deposit money for a period of one year to 5 years. The interest rates vary according to the year. Like normal FD, senior citizens also get an additional interest of 0.50%. Nomination facility is also available in this scheme. However, even after taking this scheme, it is necessary to maintain Average Monthly Balance (AMB) in the savings account.

Minimum balance required in linked savings account

You can also get this account transferred to another branch. MOD account also has the facility of auto-sweep. A limit has to be set in it, as soon as your deposit goes above that limit, the bank deposits that extra fund in FD through auto-sweep. The minimum threshold balance for auto sweep should be Rs 35,000 and the minimum resultant balance should be Rs 25,000. If you also want to take advantage of this facility of SBI, then you can open the account online or by going to any nearest branch. You have to pay tax on the interest received in this.

Related Articles:-

Employees Job Cut: Meta once again faces layoffs, big decision to lay off employees before quarterly results

Now pay stamp duty at the time of booking the flat

Tax New Rules: Taxpayers To Pay 20% Tax Instead Of 2% For Not Providing PAN Card?

The post No lock-in period, No penalty FD… withdraw it from ATM whenever you want first appeared on Rightsofemployees.com.

Bank FD rate Cut: Punjab National Bank has reduced interest on FD, know the new interest rates

Jyoti — Sat, 08 Mar 2025 04:45:49 +0000

Punjab National Bank (PNB) has shocked its crores of customers. The bank has reduced the interest on its FD by 0.75 percent. These new rates have come into effect from March 1, 2025.

Punjab National Bank offers FDs with validity ranging from 7 days to 10 years to common citizens. These rates are being given on FDs of more than Rs 3 crore. Let’s see what are the revised interest rates of Punjab National Bank…

Punjab National Bank is giving this much interest on FDs of less than Rs 3 crore

7 days to 14 days: For general public – 5.25 percent
15 days to 29 days: For general public – 5.25 percent
30 days to 45 days: For general public – 5.25 percent
46 days to 60 days: For general public – 6.25 percent
61 days to 90 days: For general public – 6.25 percent
91 days to 179 days: For general public – 6.50 percent
180 days to 270 days: For general public – 6.65 percent
271 days to 299 days: For general public – 6.75 percent
300 days: For general public – 7.00 percent
301 days to 302 days – 6.75 percent
303 days – 7.00 percent
304 days to less than a year – 6.50 percent
1 year: For general public – 6.75 percent
1 year and above Up to 399 days: For general public – 6.80 percent
400 days: For general public – 6.80 percent
401 days to 505 days: For general public – 6.80 percent
506 days – For general public – 6.70 percent
507 days to 2 years: For general public – 6.80 percent
2 years to more than 3 years: For general public – 6.50 percent
More than three years and up to 1203 days – 6.25 percent
1204 days – For general public – 6.35 percent
5 years to 10 years: For general public – 5.60 percent

Related Articles:-

The post Bank FD rate Cut: Punjab National Bank has reduced interest on FD, know the new interest rates first appeared on Rightsofemployees.com.

FD Rates: Top 6 banks of the country are offering 7.85% interest on FD, check details

Jyoti — Sun, 02 Mar 2025 05:33:10 +0000

FD Rates : Due to fluctuations in the stock market, investors are now getting more attracted towards fixed deposits (FD). FD offers a fixed interest rate. After a fixed time, the entire money is returned safely. It is considered an excellent option for risk-free investment.

Highest interest rates on FDs of banks

HDFC Bank FDs offer 7.25% interest to general citizens and 7.77% interest to senior citizens. This FD is for a period of 18 to 21 months.

In ICICI Bank, general customers are getting 7.25 percent interest and senior citizens are getting 7.85 percent interest on 15 to 18 months FD.

Kotak Mahindra Bank is offering 7.4 per cent interest on 390-391 days FD, while senior citizens are getting 7.9 per cent interest.

Federal Bank is offering 7.5% interest rate to general citizens and 8% interest rate to senior citizens on 444 days FD.

Bank of Baroda is offering 7.15 per cent interest to general customers and 7.65 per cent interest to senior citizens on 2 to 3 year FDs.

Union Bank of India is offering 7.3 per cent interest on 456 days FD, while senior citizens are getting 7.8 per cent interest.

Why invest in FD?

FD is a safe investment option. Here you get good returns in a fixed time at a fixed interest rate. Senior citizens have the advantage of higher interest rates. With this, they can get better returns on their savings. Apart from this, banks have FD schemes for different periods, so that investors can choose the right option according to their needs. If you want safe and guaranteed returns, then FD can be a good option.

The post FD Rates: Top 6 banks of the country are offering 7.85% interest on FD, check details first appeared on Rightsofemployees.com.

FD interest rates: These 6 banks offer highest interest across these tenures. Check here

Jyoti — Sat, 22 Feb 2025 12:02:59 +0000

Before starting a fixed deposit (FD), it is common for depositors to compare the interest rates offered by different banks so that they can maximise the income earned on it.

Typically, banks offer high interest on their long term deposits and low when the deposit is made for a short period. A small difference of 50 basis points in interest income can made a considerable difference over a long period.

For instance, an extra income of 1 percent on ₹5 lakh FD gives an income of 15,000 over three years and ₹25,000 over five years. And if the deposit is ₹10 lakh, this can rise to ₹50,000 over a period of five years.

So, this is important to choose the bank offering highest interest rate.

Here we list out the top six banks offering highest rates:

HDFC Bank: As we can see in the table below, HDFC Bank offers 7.25 percent to general citizens and 7.77 percent to senior citizens on an FD of 18 months to 21 months.

ICICI Bank: This private bank offers 7.25 percent to general citizens and 7.85 percent to senior citizens on an FD of 15-18 month tenure.

Kotak Mahindra Bank: This bank offers 7.4 percent to general citizens and 7.9 percent to senior citizens on an FD of 390-391 day tenure.

Bank	Tenure	General (%)	Senior citizens (%)
HDFC Bank	18 to 21 months	7.25%	7.75%
ICICI Bank	15-18 months	7.25	7.85
Kotak Mahindra Bank	390-391 days	7.4	7.9
Federal Bank	444 days	7.5	8
Bank of Baroda	2-3 years	7.15	7.65
Union Bank of India	456 days	7.3	7.8

Federal Bank: This offers 7.5 percent to general depositors and 8 percent to senior citizens on an FD of 444 days.

Bank of Baroda: This state lender offers 7.15 percent to general depositors and 7.65 percent to senior citizens on an FD of 2-3 year tenure.

Union Bank of India: This state lender offers 7.3 percent to general citizens and 7.8 percent to senior citizens on an FD of 456-day tenure.

Meanwhile, wealth advisors often recommend investors to opt for FD only for a portion of portfolio since FD income is taxable. So those taxpayers who fall in the highest tax bracket of 30 percent are going to be left with only 4.9 percent even when the interest is as high as 7 percent per annum.

Top 10 Banks Including SBI are Giving up to 8% Interest on 1 Year FD, see the full list

Jyoti — Mon, 17 Feb 2025 08:03:58 +0000

Fixed Deposit: If you are planning to invest in Fixed Deposit (FD) then this news is useful for you. The country’s big government and private banks are giving bumper interest returns to their customers on FD. According to a report published in ET, customers in these banks are getting up to 7.75 percent interest on 1 year FD. Let’s take a look at 10 such banks which are giving the highest interest to their customers.

Here you are getting up to 8% interest

DCB Bank is giving 7.25 percent interest to its general customers on 1 year FD and 7.75 percent interest to senior citizen customers. While Tamilnad Mercantile Bank is giving 7.25 percent interest to its general customers on 1 year FD and 7.75 percent interest to senior citizen customers. Apart from this, Canara Bank is giving 7 percent interest to its general customers on 1 year FD and 7.50 percent interest to senior citizen customers.

Bumper returns are being offered in RBL Bank

On the other hand, Karnataka Bank is giving 7% interest to its general customers on 1 year FD and 7.40% interest to senior citizen customers. Apart from this, Deutsche Bank is giving the same interest to its general customers on 1 year FD and to senior citizen customers. Whereas RBL Bank is giving 7% interest to its general customers on 1 year FD and 7.50% interest to senior citizen customers.

SBI gives more than 7% interest

Bank of India is giving 7% interest to its general customers and 7.50% interest to senior citizen customers on 1 year FD. Whereas State Bank of India is giving 6.80% interest to its general customers and 7.30% interest to senior citizen customers. Apart from this, Bank of Baroda and Central Bank of India are giving 6.75% interest to their general customers and 7.25% interest to senior citizen customers on 1 year FD.

ICICI Bank revises interest rates on FD, senior citizens get 7.8% interest

Jyoti — Thu, 06 Feb 2025 10:37:14 +0000

All banks in the country revise their interest rates from time to time. The country’s second largest private sector bank ICICI has revised the interest rates on FD. ICICI Bank’s new policy is effective from February 5, 2025. These revised interest rates are applicable on FDs up to Rs 3 crore. The bank is offering a maximum interest rate of 7.80% to senior citizens.

ICICI Bank FD interest rate – on FD up to Rs 3 crore

7 days to 29 days: For general public – 3.00 percent; For senior citizens: 3.50%
30 days to 45 days: For general public – 3.50 percent; For senior citizens – 4.00 percent
46 days to 60 days: For general public – 4.25 percent; For senior citizens: 4.75%
61 days to 90 days: For general public – 4.50 percent; For senior citizens – 5.00 percent
91 days to 184 days: For general public – 4.75 percent; For senior citizens: 5.25%
185 days to 270 days: For general public – 5.75 percent; For senior citizens: 6.25%
271 days to less than 1 year: For general public – 6.00 percent; For senior citizens: 6.50%
Less than one year to 15 months: 6.70 percent; For senior citizens: 7.20%
15 months to less than 18 months: For general public – 7.25 percent; For senior citizens – 7.80 percent (ICICI Bank is offering the highest interest on this FD)
18 months to 2 years: For general public – 7.25 percent; For senior citizens: 7.75%
2 years 1 day to 5 years: For general public – 7.00 percent; For senior citizens: 7.50%
5 years 1 day to 10 years: For general public – 6.90 percent; For senior citizens: 7.40 percent
5 year tax saving FD: 7 percent; for senior citizens: 7.50%

This way, customers can take advantage of these revised interest rates.

The post ICICI Bank revises interest rates on FD, senior citizens get 7.8% interest first appeared on Rightsofemployees.com.

RBI’s instructions regarding FD, savings account and locker – Key Details Inside

Jyoti — Wed, 05 Feb 2025 11:00:47 +0000

RBI has issued a directive to banks. The central bank has said that banks should ensure nominees in deposit accounts and safety lockers of new and all existing customers. The nomination facility is aimed at reducing the hardships of family members on the death of depositors and speedy settlement of claims.

The Reserve Bank of India (RBI) has issued instructions to banks and NBFCs (non-banking financial companies) regarding nominee (legal heir). According to this, nomination is now necessary for every Fixed Deposit (FD), savings account and locker. RBI has ordered all banks to get nomination from every old and new customer. The purpose of the nomination facility is to reduce the difficulties of family members on the death of the depositor / depositors and to settle claims quickly. The central bank circular states that nominees are not available in a large number of deposit accounts. Know why nomination is necessary…

What is the reason?

According to the Economic Times report, RBI has found that many accounts do not have nomination. In such a situation, if the account holder dies, his family members have to face a lot of problems. With nomination, if any family member passes away, the nominee will easily get the money from his savings account, FD or locker without any delay or legal hassle.

What are the instructions?

According to the RBI circular of Friday, the instructions for nomination for scheduled commercial banks (SCBs – except RRBs), primary (urban) co-operative banks (UCBs) and deposit taking NBFCs have been included in the master circular. In these rules, banks have also been told to explain the benefits of nomination to the people and provide information about it everywhere.

How will monitoring be done?

According to the new RBI directive, the Customer Service Committee (CSC) or the Board of Directors will regularly review the nomination status. From March 31, the progress report will be given every quarter through the DAKSH portal. Changes will also be made in the account opening form so that the customer can choose a nominee or refuse nomination. RBI has said that campaigns should be run from time to time.

Who is a nominee?

A nominee in an account or investment is a person whom the account holder wants to receive his money after his death. When you open an account or add a nominee’s name later, it ensures that the account holder’s assets are passed on to that person. This person can be a family member or a friend or an acquaintance. The account holder can change the nominee’s name in his account whenever he wants.

Why is it necessary?

By having a nomination, the family can avoid legal hassles. If there is no nominee, then the family members or legal heirs have to go through a long and tedious process to get the property. If there is a nominee, then he just has to show his address, bank details and identity card and the money will be transferred in his name.

Essential to avoid hassle

Due to the absence of a nominee, the family of the deceased may face legal hurdles in getting money from the bank/insurance company. Sometimes a distant relative or an unknown person also declares himself as the heir. In such a situation, the matter becomes more complicated. If there is a dispute among the family members, then the matter goes to the court. It may take 6 months or several years to decide. To avoid this problem, get the name of a nominee registered in your account today itself.

Fixed Deposit Rates: THIS Bank has revised the interest on FD, giving 8.50% interest

Jyoti — Mon, 16 Dec 2024 07:02:26 +0000

Fixed Deposit Rates : The country’s private sector bank RBL has revised the interest rates on FDs up to Rs 3 crore. RBL Bank is offering FDs from 7 days to 10 years.

RBL Bank is now offering a maximum interest of 7.50% to common people and 8.50% to senior citizens. These new rates have come into effect from 15 December 2024.

RBL Bank interest rates on FD of Rs 3 crore

7 days to 14 days: For general public – 3.50 percent; For senior citizens – 4 percent
15 days to 45 days: For general public – 4.00%; For senior citizens – 4.50%
46 days to 90 days: For general public – 4.50 percent; For senior citizens – 5 percent
Less than 91 days to 6 months: For general public – 4.75 per cent; For senior citizens – 5.25 per cent
181 days to 240 days: For general public – 5.50 percent; For senior citizens – 6 percent
241 days to 364 days: For general public – 6.05 percent; For senior citizens – 6.55 percent
365 days to 452 days: For general public – 7.50 percent; For senior citizens – 8 percent
453 days to 499 days: For general public – 7.80 percent; For senior citizens – 8.30 percent
500 days: For general public – 8.00 percent; For senior citizens – 8.50 percent
16 months to less than 18 months: For general public – 7.80 per cent; For senior citizens – 8.30 per cent
18 months to 24 months: For general public – 7.80 per cent; For senior citizens – 8.30 per cent
Tax saving 5-year FD – 7.10 per cent; For senior citizens – 7.60 per cent

	Rates on FDs less than Rs 3 crore
Period	Domestic and Flexi FD Interest Rates	Senior Citizen Interest Rates	NRI Interest Rates Annually	NRO Interest Rates Annually
7 days to 14 days	3.50%	4.00%	NA	3.50%
15 days to 45 days	4.00%	4.50%	NA	4.00%
46 days to 90 days	4.50%	5.00%	NA	4.50%
91 days to 180 days	4.75%	5.25%	NA	4.75%
181 days to 240 days	5.50%	6.00%	NA	5.50%
241 days to 364 days	6.05%	6.55%	NA	6.05%
365 days to 452 days (12 months to less than 15 months)	7.50%	8.00%	7.50%	7.50%
453 days to 499 days (15 months to 16 months 14 days)	7.80%	8.30%	7.80%	7.80%
500 days	8.00% Highest	8.50% highest	8.00% Highest	8.00% Highest
501 days to 545 days (16 months 16 days to less than 18 months)	7.80%	8.30%	7.80%	7.80%
546 days to 24 months (18 months to 24 months)	7.80%	8.30%	7.80%	7.80%
24 months 1 day to 36 months	7.50%	8.00%	7.50%	7.50%
36 months 1 day to 60 months 1 day	7.10%	7.60%	7.10%	7.10%
60 months 2 days to 120 months	7.00%	7.50%	7.00%	7.00%
Tax Saving FD (60 Months)	7.10%	7.60%	NA	7.10%

The post Fixed Deposit Rates: THIS Bank has revised the interest on FD, giving 8.50% interest first appeared on Rightsofemployees.com.

FD rate Changed: Axis Bank has revised the interest rate on FD! Check the latest interest rate

Jyoti — Tue, 03 Dec 2024 06:28:47 +0000

Axis Bank FD Rates : Axis Bank has revised the interest rates of FD. Axis Bank is offering interest ranging from 3 percent to 7.25 percent to general customers after the new revision.

At the same time, senior citizens are being given interest ranging from 3.50 percent to 7.75 percent. The bank is offering FD from 7 days to 10 years. The new interest rates of Axis Bank have come into effect from today, 30 November 2024.

Axis Bank interest rates on FDs less than Rs 3 crore

7 days to 14 days: 3.00% for general public; 3.50% for senior citizens
15 days to 29 days: 3.00% for general public; 3.50% for senior citizens
30 days to 45 days: 3.50 percent for general public; 4 percent for senior citizens
46 days to 60 days: 4.25 per cent for general public; 4.75 per cent for senior citizens
61 days to less than 3 months: 4.50 per cent for general public; 5 per cent for senior citizens
3 months to 3 months 24 days: 4.75 per cent for general public; 5.25 per cent for senior citizens
3 months 25 days to less than 4 months: 4.75 per cent for general public; 5.25 per cent for senior citizens
4 months to less than 5 months: 4.75 per cent for general public; 5.25 per cent for senior citizens
5 months to less than 6 months: 4.75 per cent for general public; 5.25 per cent for senior citizens
6 months to less than 7 months: 5.75 per cent for general public; 6.25 per cent for senior citizens
7 months to less than 8 months: 5.75 per cent for general public; 6.25 per cent for senior citizens
8 months to less than 9 months: 5.75 per cent for general public; 6.25 per cent for senior citizens
9 months to less than 10 months: 6.00% for general public; 6.50% for senior citizens
10 months to less than 11 months: 6.00 per cent for general public; 6.50 per cent for senior citizens
11 months to 11 months 24 days: 6.00 per cent for general public; 6.50 per cent for senior citizens
11 months 25 days to less than 1 year: 6.00 per cent for general public; 6.50 per cent for senior citizens
1 year to less than 1 year 4 days: 6.70 per cent for general public; 7.20 per cent for senior citizens
1 year 5 days to less than 1 year 11 days: 6.70 per cent for general public; 7.20 per cent for senior citizens
1 year 11 days to less than 1 year 24 days: 6.70 per cent for general public; 7.20 per cent for senior citizens
1 year 25 days to less than 13 months: 6.70 per cent for general public; 7.30 per cent for senior citizens
13 months to less than 14 months: 6.70 per cent for general public; 7.30 per cent for senior citizens
14 months to less than 15 months: 6.70 per cent for general public; 7.50 per cent for senior citizens
15 months to less than 16 months: 7.25 per cent for general public; 7.75 per cent for senior citizens
16 months to less than 17 months: 7.25 per cent for general public; 7.75 per cent for senior citizens
17 months to less than 18 months: 7.25 per cent for general public; 7.75 per cent for senior citizens
18 months to less than 2 years: 7.25 per cent for general public; 7.75 per cent for senior citizens
Less than 2 years to 30 months: 7.10 per cent for general public; 7.60 per cent for senior citizens
30 months to less than 3 years: 7.10 per cent for general public; 7.60 per cent for senior citizens
3 years to less than 5 years: 7.10 percent for general public; 7.60 percent for senior citizens
5 years to 10 years: 7.00 per cent for general public; 7.75 per cent for senior citizens.

Related Articles:-

Train Cancelled: Indian Railways canceled many trains on this route due to fog, Check list here

Mutual Fund SIP: You May Get More Than 85 Lakhs Rupees By Just Investing 5000, Check Calculation

WhatsApp will not work on this iPhone, your mobile is not included in the list

The post FD rate Changed: Axis Bank has revised the interest rate on FD! Check the latest interest rate first appeared on Rightsofemployees.com.

Bank FD Rate: 9% interest rate is available in these banks on three year FD

Jyoti — Tue, 26 Nov 2024 08:29:59 +0000

New Delhi : There was a time when Indian banks used to offer double-digit interest on FDs. But all this is a thing of the past. Now even State Bank FDs (SBI FDs) offer around seven percent interest. Even then, there are some banks that are offering nine percent interest on fixed deposits for retail investors. We are telling you the names of some such banks.

Senior citizens get more interest

The banks we are listing here are offering up to 9% interest rate per annum on fixed deposits for retail depositors. This is usually on amounts less than Rs 3 crore. Moreover, senior citizens can get even higher interest rates on fixed deposits, which is usually higher by 0.25% to 0.50%. We have listed here a complete list of banks offering up to 9% interest on fixed deposits for a period of three years and less than Rs 3 crore for individuals below 60 years of age.

North East Small Finance Bank

North East Small Finance Bank is offering 9% interest rate to common citizens on FDs maturing in three years. Suryoday Small Finance Bank is also offering 8.6% interest rate to common citizens on its FDs maturing in three years.

Utkarsh Small Finance Bank

Utkarsh Small Finance Bank is offering 8.5% interest rate to common citizens on FDs maturing in three years. Jana Small Finance Bank is also offering 8.25% interest rate on FDs maturing in three years.

Unity Small Finance Bank

Unity Small Finance Bank is offering an interest rate of 8.15% on FDs maturing in three years. Equitas Small Finance Bank FD RatesEquitas Small Finance Bank is offering an interest rate of 8% on FDs maturing in three years.

(Disclaimer: Small finance bank deposits are insured only up to Rs 5 lakh by the Deposit Insurance Credit Guarantee Corporation (DICGC). Experts advise investors to be cautious while investing in their FDs. Given their unique business model, the risks associated with investing in small finance bank FDs may differ slightly from scheduled commercial banks. To mitigate potential risks, it is recommended that investors limit their exposure to small finance bank FDs to the amount that falls within the DICGC coverage. This ensures that their principal and interest are protected in unforeseen circumstances.)

Related Articles:-

Railways Cancelled Trains: Big news! Railways has canceled these trains till December 2 – see list here

PAN 2.0 F&Q : Do You Need To Change PAN Number? All FAQs answered

EPFO: To take advantage of ELI scheme, do this work by 30 November – Details Here

The post Bank FD Rate: 9% interest rate is available in these banks on three year FD first appeared on Rightsofemployees.com.

Best Fixed Deposit: SBI and PNB are giving best interest on three year FD, check the rates

Jyoti — Thu, 21 Nov 2024 09:28:57 +0000

Fixed Deposit SBI vs PNB : Most people trust government banks to invest in FD. Investment in fixed deposit (FD) is safe and fixed interest is received. In India, State Bank of India (SBI) and Punjab National Bank (PNB) are among the big banks of the country.

They are known for their service and reach in all states and cities. Here we are comparing the interest rates of three-year FD schemes of both the banks. So that, you can achieve your financial target by choosing the right FD.

SBI and PNB FD Interest Rates (as of 2024)

SBI FD Interest Rates (Interest on FDs of 3 years to 5 years)

For general citizens: 6.75%

For Senior Citizens: 7.25%

PNB FD Interest Rates (for tenures of 2 years to 3 years)

For general citizens: 7%

For Senior Citizens: 7.50%

Super Senior Citizen (above 80 years): 7.80%

Minimum investment amount

The minimum investment amount to open FD in both the banks is Rs 1,000.

Which bank is better in terms of interest, SBI or PNB?

PNB’s FD schemes offer slightly higher interest rates than SBI. PNB’s returns are higher in all categories from general citizens to senior and super senior citizens.

Be sure to keep these things in mind while investing

Some FDs charge a penalty for premature withdrawal. If you are investing in a 3-year FD, then your first priority is to get maximum returns. In such a case, you can choose SBI or PNB FD as per your need.

Related Articles:-

U.S. court issues arrest warrant for Gautam Adani: report

Gov’s new order…! Builder-buyer agreement of the flat will also have to be registered

Ration Card Cancelled: Govt has cancelled 5.8 crore ration cards, check if your name is in the list

The post Best Fixed Deposit: SBI and PNB are giving best interest on three year FD, check the rates first appeared on Rightsofemployees.com.

Fixed Deposit Rates: These 12 banks are giving the highest interest on FD, check the interest rate

Jyoti — Fri, 08 Nov 2024 10:28:17 +0000

Fixed Deposit Rates: Fixed Deposit (FD) is a famous investment option in India. It gives safe and reliable returns to investors. Fixed deposits are popular among individuals who want to earn fixed interest without risking their financial resources. Depositing funds for a fixed period in FD earns a fixed interest rate, which is higher than savings accounts.

FD revised its interest rates

Due to the recent change in economic conditions, various banks have revised their FD interest rates in the month of November. This change will bring a new challenge for investors. Many private and government banks are trying to keep their FD rates competitive so that they can attract more and more investors.

Which bank gives the highest return?

In case of one-year deposits, Bandhan Bank and IndusInd Bank lead with rates of 8% and 7.75%, respectively. For three-year deposits, DCB Bank and RBL Bank offer the highest rates among private sector banks, while most other banks offer a base rate of around 7% for the same period.

Best Private Sector Bank Fixed Deposit Rates, According to Paisabazaar

1. Axis Bank

1-year: 6.70%

3-year: 7.10%

5-year: 7%

Highest rate: 7.25% (15 months – less than 2 years)

2. Bandhan Bank

1-year: 8.05%

3-year: 7.25%

5-year: 5.85%

Highest Rate: 8.05% (1 year)

3. DCB Bank

1-year: 7.10%

3-year: 7.55%

5-year: 7.40%

Highest rate: 8.05% (19-20 months)

4. HDFC Bank

1-year: 6.60%

3-year: 7%

5-year: 7%

Highest rate: 7.40% (55 months)

5. Indusind Bank

1-year: 7.75%

3-year: 7.25%

5-year: 7.25%

Highest rate: 7.75% (1-2 years)

6. RBL Bank

1-year: 7.50%

3-year: 7.50%

5-year: 7.10%

Highest rate: 8.10% (500 days)

7. Yes Bank

1-year: 7.25%

3-year: 7.25%

5-year: 7.25%

Highest rate: 8% (18 months)

These banks offer the flexibility to have FDs with and without premature withdrawal facility. However, FDs without the premature withdrawal option often offer slightly higher rates as the funds are locked for a certain period of time, allowing the bank to use these funds more effectively.

FD rates in public sector

Public sector banks such as Central Bank of India and Punjab & Sind Bank offer rates above 7% for some periods. Most banks offer higher interest rates to senior citizens, which provide them with good returns.

Top Public Sector Banks

1. Bank of Baroda

1-year: 6.85%

3-year: 7.15%

5-year: 6.80%

Highest Rate: 7.30% (400 Days – BOB Utsav)

2. Bank of Maharashtra

1-year: 6.75%

3-year: 6.50%

5-year: 6.50%

Highest rate: 7.40% (333 days)

3. Central Bank of India

1-year: 6.85%

3-year: 6.75%

5-year: 6.50%

Highest rate: 7.45% (444 days)

4. Punjab National Bank

1-year: 6.80%

3-year: 7%

5-year: 6.50%

Highest rate: 7.25% (400 days)

5. Union Bank of India

1-year: 6.80%

3-year: 6.70%

5-year: 6.50%

Highest rate: 7.40% (333 days)

Benefits to Senior Citizens

Most banks offer senior citizens a higher interest rate, usually 0.5% higher than the standard rate, offering better returns for those over the age of 60. This additional rate compensates for the often fixed-income nature of senior citizens’ investments.

ICICI Bank revised interest on FD, check latest interest rate

Jyoti — Sat, 02 Nov 2024 05:07:07 +0000

ICICI Bank Fixed Deposit Rate: The country’s second largest private sector bank ICICI has revised the FD interest rates after Diwali. The new rates of ICICI Bank have come into effect from today, 1 November 2024.

These revised interest rates are applicable on FDs up to Rs 3 crore. The bank is offering a maximum interest rate of 7.80% to senior citizens.

ICICI Bank FD interest rate – on FDs up to Rs 3 crore

7 days to 29 days: For general public – 3.00%; For senior citizens – 3.50%

30 days to 45 days: For general public – 3.50%; For senior citizens – 4.00%

46 days to 60 days: For general public – 4.25 percent; For senior citizens – 4.75 percent

61 days to 90 days: For general public – 4.50%; For senior citizens – 5.00%

91 days to 184 days: For general public – 4.75 percent; For senior citizens – 5.25 percent

185 days to 270 days: For general public – 5.75 percent; For senior citizens – 6.25 percent

271 days to less than 1 year: For general public – 6.00%; For senior citizens – 6.50%

Less than one year to 15 months: 6.70 percent; For senior citizens – 7.20 percent

15 months to less than 18 months: For general public – 7.25 per cent; For senior citizens – 7.80 per cent (ICICI Bank is offering the highest interest on this FD)

18 months to 2 years: For general public – 7.25 percent; For senior citizens – 7.75 percent

2 years 1 day to 5 years: For general public – 7.00 percent; For senior citizens – 7.50 percent

5 years 1 day to 10 years: For general public – 6.90 per cent; For senior citizens – 7.40 per cent.

5 year tax saving FD: 7 per cent; For senior citizens – 7.50 per cent.

( Note: These FD rates are taken from the bank’s website. )

Bank of Baroda revised interest on FD, check latest interest rate

Jyoti — Fri, 04 Oct 2024 04:55:24 +0000

FD Rates: Bank of Baroda, one of the country’s largest public sector banks, has revised the interest rates of FD. The bank has removed the 333-day FD. It was launched under the name of Monsoon Dhamaka.

The bank is offering a maximum interest of 7.50 percent to senior citizens. These new rates are applicable from today, 3 October 2024. Check the new FD rates.

Interest on BOB FD

7 days to 14 days – For general public: 4.25 percent; For senior citizens: 4.75 percent
15 days to 45 days – For general public: 4.50 percent; For senior citizens: 5 percent
46 days to 90 days – For general public: 5.50 percent; For senior citizens: 6 percent
91 days to 180 days – For general public: 5.60 percent; For senior citizens: 6.10 percent
181 days to 210 days – For general public: 5.75 per cent; For senior citizens: 6.25 per cent
211 days to 270 days – For general public: 6.25 per cent; For senior citizens: 6.75 per cent
271 days and above and less than 1 year – For general public: 6.50 per cent; For senior citizens: 7 per cent
333 days – (Monsoon Dhamaka Deposit Scheme) – For general public: 7.15 per cent; For senior citizens: 7.65 per cent
360 days (BOB 360) – For general public: 7.10 percent; For senior citizens: 7.60 percent
1 year – For general public: 6.85 percent; For senior citizens: 7.35 percent
More than 1 year to 400 days – For general public: 7 per cent; For senior citizens: 7.50 per cent
Above 400 days and upto 2 years – For general public: 7 per cent; For senior citizens: 7.50 per cent
Above 2 years and upto 3 years – For general public: 7.15 per cent; For senior citizens: 7.65 per cent
Above 3 years and upto 5 years – For general public: 6.50%; For senior citizens: 7.00%
Above 5 years to 10 years – For general public: 6.50 per cent; For senior citizens: 7.50 per cent
Above 10 years (Court Order Scheme) – For general public: 6.25 per cent; For senior citizens: 6.75 per cent

Tax Rules on FD: There are big benefits of getting FD in the name of wife, Do you know?

Jyoti — Thu, 03 Oct 2024 12:06:27 +0000

Tax Rules on FD: There are many options for investment in today’s time, but despite having many options, Indian investors trust Fixed Deposits the most.

This is the reason why even today Fixed Deposit (FD) is one of the favorite investment schemes of Indians. Most of the people in the country consider Fixed Deposit as the safest investment option. Due to which the craze of FD continues.

Guaranteed returns on investments in FD

People who want to invest without any risk often choose FD schemes. You get guaranteed returns on FD. This means that when you invest in FD, you get a fixed return on your investment with guarantee. Along with this, investors also get many benefits.

However, many investors are not aware of the benefits of FD. We are going to tell you about one special benefit.

TDS will be deducted on income from FD

TDS has to be paid on the interest received from fixed deposits i.e. FDs (FD Interest Rates). The interest received on FD i.e. the income from FD is added to your total income. In such a situation, when the income through interest on fixed deposits exceeds the prescribed limit, then TDS (TDS on Fixed Deposit Schemes) is deducted from it.

According to the rule, if the income earned through interest on FD (FD Interest Rates 2024) is more than Rs 40,000 in a financial year, then you will have to pay 10 percent TDS.

These are the benefits of getting FD in the name of wife

However, there are many ways to save TDS. There is one way in which you do not have to do anything. If you want, you can avoid paying tax with the help of your wife . Just get an FD done in your wife’s name and you will be able to save tax worth lakhs of rupees. But very few people know that if they get an FD done in their wife’s name instead of their own, then they can save a lot of tax (Tax Exemption on FD in 2024).

If you are married and are planning to invest in fixed deposits then this news is for you. Here we will tell you why you should get FD done in the name of your wife.

How can you save tax with the help of your wife

Actually, if a woman is a housewife, then she is not liable for any kind of tax. That is, housewives have to pay zero tax. If your income comes under the scope of income tax, but your wife is a housewife, then in such a situation you can avoid paying TDS by getting an FD done in the name of your wife.

Apart from this, if your wife’s income is less and she falls in the lower tax bracket, then you can also avoid paying TDS (TDS on FD Interest) by getting an FD done in her name. For this, your wife will have to fill Form 15G and she can avoid paying TDS.

At the same time, there is another way by which you can avoid TDS deduction on FD. If you make a joint FD with your wife, then you can also avoid paying TDS as well as higher taxes, but while making a joint FD, you will have to make your wife the first holder.

Related Articles:-

Post Office’s Dhansu scheme: You will get great interest on Rs 2 lakh in 5 years

The post Tax Rules on FD: There are big benefits of getting FD in the name of wife, Do you know? first appeared on Rightsofemployees.com.

ICICI Bank revised interest on FD, check latest interest rate

Jyoti — Wed, 02 Oct 2024 04:05:39 +0000

ICICI Bank Fixed Deposit Rate: The country’s second largest private sector bank ICICI has revised the FD interest rates in October. The new rates of ICICI Bank have come into effect from today, October 1, 2024.

These revised interest rates are applicable on FDs up to Rs 3 crore. The bank is offering a maximum interest rate of 7.80% to senior citizens. 7.80 percent interest is available on FDs of less than 15 months to 18 months.