Tag Archives: interest

Different SBI Savings Bank Accounts Explained: Interest Rates, Minimum Balance And Other Details

SBI small savings account: A person holding this account is allowed a maximum balance of Rs. 50,000 State Bank of India (SBI) offers several special types of savings bank accounts. These include the savings plus bank account, basic savings bank account, small savings accountand savings account for minors. While all these bank accounts offer an interest rate of 3.5 per cent for balance up to Rs. 1 crore, just ... Read More »

SBI’s Overdraft Facility Against FD For Online Customers: Interest Rates, Eligibility Explained Here

Customers can now avail an overdraft against Fixed Deposit (FD) via State Bank of India (SBI) YONO app, informed country’s largest lender on its official twitter handle- @TheOfficialSBI.  Under SBI’s overdraft facility, customers holding fixed deposit (FD) in a single name can avail up to 90 per cent of the fixed deposit (FD) amount as an overdraft to meet emergency and other needs. The ... Read More »

You are eligible for the PF interest even if your account has been inoperative

I recently lost my job where I was earning Rs80,000 per month. After staying unemployed for 5 months, I took up a job that is now paying me Rs50,000 per month. I have an EMI of Rs25,000 for the next 7 years. My investments are—Rs35 lakh in fixed deposits, Rs2 lakh lump sum in mutual funds and Rs5 lakh in ... Read More »

Latest Interest Rate On PPF, Income Tax Benefits, Withdrawal, Loan Facilities And Other Details

The rate of interest on PPF is compounded annually (Representational image) HIGHLIGHTS PPF, other small savings schemes interest rates are set every quarter Deposits in PPF account are eligible for tax deductions under Section 80C Up to Rs. 1.5 lakh can be claimed for a financial year under Section 80C COMMENTSPPF or Public Provident Fund is one of the most ... Read More »

Lend Money, Earn Interest? Not Easy in Europe’s Loan Market

(Bloomberg) — For investors still waiting for the first interest payment on the leveraged loan they joined, there may be a glimmer of hope. The Loan Market Association, an industry body, is preparing to publish guidelines aimed at speeding up the settlement process and making the European leveraged loan market more efficient. “We are in the final stages of drawing ... Read More »

UK interest rates stay steady at record low of 0.25%

A Bank of England’s monetary policy committee voted 7-2 in favour of holding interest rates steady. Photograph: Alicia Canter for the Guardian The Bank of England left interest rates on hold at their record low of 0.25% amid sluggish pay growth and a squeeze on household spending, while hinting that a rise may come sooner than expected. The Bank’s monetary policy ... Read More »

HDFC Bank cuts savings account interest rate by 50 bps: As rates fall, it’s time you shift to liquid funds

HDFC Bank on Thursday announced slashing interest rate on savings accounts starting this Saturday, joining a spate of banks who underwent the similar exercise in recent weeks. According to the bank, customers who maintain a savings bank account balance of Rs 50 lakh and above will continue to earn interest rate at 4 percent per annum. Similarly, customers having a ... Read More »

Bank of England: pay figures will fuel raging interest rate debate

Bank of England may be amenable to higher rates of interest. Photograph: Hannah Mckay/Reuters There is more fuel for the raging debate around UK interest rates this week, with official figures on pay growth out on Wednesday. Investors and policymakers alike are looking for any signs that a tight labour market can translate into faster pay growth, a trend that ... Read More »

Yellen: Fed interest rate hike may be ‘appropriate’

US Federal Reserve chair, Janet Yellen, has said it may be “appropriate” for the central bank to raise interest rates at one of its upcoming meetings. The bank’s next meeting on monetary policy is on March 14 and 15. Speaking to Congress she said delaying rate hikes would be “unwise”, and could leave the Fed having to move too fast ... Read More »

Big business players taking keen interest in Assam: Sarbananda Sonowal

Assam Chief Minister Sarbananda Sonowal on Saturday said big business players are taking a keen interest in the state as the government is making all out efforts to create an investor-friendly environment. “Employment generation is the top priority of the government but industrialisation will not be encouraged at the cost of environment and all measures would be taken to maintain ... Read More »