On 25 Oct 2011, the Reserve Bank of India (RBI) made an announcement that it has deregulated the interest rates for savings accounts in banks. The History So far, the interest rate earned by the money in your savings account was fixed and regulated by RBI - it has been 4% per … [Read more...]
With inflation figures on the rise, the interest rates offered by banks on deposits are also rising. This may look like a rosy picture for those who derive a major chunk of their income from fixed deposits as banks now offer more interest for the same amount, but what about the fixed deposits … [Read more...]
The interest rates cycle has almost peaked. Is it the right time to lock into the high interest rates by opening fixed deposits (FDs) for a long term? … [Read more...]
Interest rates have risen – Should you break your old fixed deposit (FD) to get a higher interest rate?
The interest rates have risen in the past few months. Should you be breaking your old FDs and opening new FDs with higher rates? Is there any penalty involved? What should you do? Read on. … [Read more...]
Some of the largest banks in India have announced a hike in interest rates. Here are the details. … [Read more...]
This article explains how the deductions under Sec 80C of the Income Tax (IT) Act can help reduce your income tax liability. It also helps you decide where to invest to claim deductions under Sec 80C. … [Read more...]