HDFC Bank has followed the State Bank of India to increase rates on fixed deposits
RD is a basic investment instrument which one can start even with his/her pocket money to pick up the basics of disciplined saving.
Some private sector banks are promising slightly higher interest rates on recurring deposits. Here's a look
The interest rates of these schemes are set by the government at the start of every quarter of the financial year.
There are many options for saving or investing in the post office. However, you have to maintain a minimum balance in the account
Post Office Monthly Income Scheme: Minors can open an account under the post office monthly income scheme
Post office RDs: If the amount is not deposited within the prescribed time, the account is considered defaulted and is deactivated
Recurring deposits: Investment planners feel that RD is a basic investment instrument and one can start one even with his/her pocket money
Recurring Deposit rates: RD is one of the most popular investment avenues in India. Interest rates on RDs are quarterly compounded.
An individual can open a recurring deposit with only Rs 100 and get a fixed assured return