In recent times various private and public sector banks have revised the fixed deposit interest rates downwards
While equity mutual funds offer potential to build wealth over the long term, debt funds add to the stability and liquidity.
Fixed deposits: Kotak Mahindra Bank and Fincare Small Finance Bank have recently revised interest rates on FDs.
In this scheme, the tenure and the investment amount are fixed but the interest rate varies from time to time.
Fixed deposits: Many people continue to park their money in FDs mainly because of the predictability factor.
Fixed deposits: Mainly private lenders are offering better rates than public sector lenders in 3-5-year FDs.
SBI has created 'Wecare' scheme in the retail segment in which people above 60 get an additional interest of 30 basis points on FDs of 5 yrs or more.
If you are planning to invest in fixed deposits, it's always better to know the recent changes and compare the interest rates
Fixed deposits: If you are planning to invest in fixed deposits, it's always better to know the recent changes.
Different banks offer different interest across tenures. The rate of interest remains fixed till maturity once the deposit is made.