SBI bats for tax parity of FDs with mutual funds, stocks
The government should tweak the tax rate on interest earned from fixed deposits, says SBI's group chief economic adviser
The government should tweak the tax rate on interest earned from fixed deposits, says SBI's group chief economic adviser
RBI report shows women account for 39% (₹37 lakh crore) of overall individual deposits
FDs with tenure of over 15 months will fetch 7% interest.
Experts are not convinced that the rise in fixed deposit interest rates makes them a good investment compared to liquid funds.
Here's a detailed comparison of fixed deposit interest rates offered by India's top three banks.
As per the bank's website, fixed deposits with maturity ranging from five years and one day to 10 years will fetch 5.60% interest.
Investors should not get swayed by the minor rise in interest rates on bank fixed deposits as inflation hardening may lead to rate revision.
As the Reserve Bank of India has kept key rates unchanged, fixed deposit rates at banks are at a historic low. As a result, banks have lost their power to attract money, says Zerodha’s Nikhil Kamath.