Savings and Investments

PPF accounts: Interests on deposits in PPF are compounded on an annual basis, which means that it is added to the principal amount every year.

Fixed deposit or FD interest rates of SBI or State Bank of India range from 5.75 per cent to 6.85 per cent. However, small finance banks like Jana Small Finance Bank, Equitas Small Finance Bank and AU Small Finance Bank offer FD interest rates up to 9.1 per cent, which is much higher than SBI's.

On maturity, the depositor is paid a lump-sum amount which includes periodic investments and the interest income earned on it.

Some fixed deposits come with a premature withdrawal facility while some require a compulsory lock-in period.

The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act.

India Post has a network of more than 1.55 lakh post offices across the country and offers a variety of banking and remittance services, other than mailing services.

On maturity, the depositor is paid a lump sum amount which includes his periodic investments and the interest income earned on them.

The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act.

These days there are various factors, which institutions take into account before processing the transfer of a loan. Age, size of family, source of income, marital status, stability of employment, CIBIL score, regularity of filing of tax returns are few of them.

Some fixed deposits come with a premature withdrawal facility while some require a compulsory lock-in period.

Earlier this week, ICICI Bank revised its interest rates on both recurring deposits and fixed deposits.

Recently, big banks such as State Bank of India, HDFC Bank have revised their interest rates on both recurring deposits and fixed deposits.

The revision in fixed deposit interest rates have come after the Reserve Bank of India hiked the repo rate to 6.5 per cent.

HDFC Bank revised its fixed deposit or FD interest rates on select maturities with effect from today. HDFC Bank has revised FD interest rates for deposits ranging from below Rs 1 crore to less than Rs 5 crore.

Some fixed deposit accounts come with the facility of premature withdrawal while some have a compulsory lock-in period.