On the 1st of February 2020, Finance Minister Nirmala Sitharaman presented the Union Budget 2020 in the Parliament. In it, an increase in deposit insurance to Rs. 5 lakh was proposed which was earlier set at Rs. 1 lakh for the bank account holders. This revision in the insurance cover came into effect from the 4th of February, 2020. What is…
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Fixed deposits also known as term deposits are one of the most popular investment instruments in India owing to a number of benefits which they offer. Besides providing for safety of capital and assured returns, fixed deposits also qualify for a tax deduction under Section 80C of the Income Tax Act. Thus, it is both…
The government of India revised the interest rates on Post Office Small Savings Schemes effective from 1st January, 2019. The revised interest rates on some of the Small Savings Schemes are as under: Post Office Instrument Rate of Interest w.e.f. 01.07.2019 1 year term deposit 6.90% 2 year term deposit 6.90% 3 year term deposit 6.90% 5…
For every individual, whether salaried or self employed, saving money proves to be an essential part of one’s life. Saving money is easier said than done. Every individual aims to save a certain amount of money but end up spending it all. This could lead to several problems in long run when you will be…
We know about fixed deposits, don’t we? But just so that we are on the same page fixed deposits are one of the safest and most consistent saving schemes that guarantee us a fixed percentage of the principal as the return over their tenure. Fixed deposits can be opened by Indian residents, Senior Citizens, and…
Customer Type Rate Hike New Customers +0.25% Bajaj Group Employees/Existing Loan and FD Customers +0.25% Senior Citizens +0.35% Bajaj Finance has increased fixed deposit interest rates with effect from 17th October 2018 for the 36-60 month tenure. Likewise, renewal rates of fixed deposits have been hiked by 0.25%. For senior citizens, there is an additional…
