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Personal Finance

Axis Bank has revised its interest rates on term deposits after RBI increased its repo rate on Friday

RBI rate hike: Axis Bank changes interest rates on fixed deposits under Rs 2 crore; check new rates

Oct 01, 2022

Fixed Deposit interest rate hike: From now on, Axis Bank will offer a maximum interest rate of 6.15 per cent for the general public and 6.90 per cent for senior citizens for its various schemes.

In value terms, 6.78 billion (678 crore) transactions in last month corresponds to transactions worth Rs 11.16 lakh crore

UPI transactions go up by 3% to 678 crore in September; worth Rs 11.16 lakh crore

Oct 01, 2022

Aadhaar number-based AePS transactions stood at 102.66 million in September, as against 105.65 million a month earlier. In July, there were as many as 110.48 million AePS transactions.

The interest rate on small savings schemes was last revised during the first quarter of 2020-21, when rates were slashed due to pandemic-related issues.

Interest rate hikes: Rates for govt small savings schemes changed after more than 2 years

Oct 01, 2022

But the government hasn’t changed the interest rates for the popular schemes -- Public Provident Fund (PPF), National Savings Certificate and Sukanya Samriddhi Scheme.

ICICI Bank is the first bank to make the changes in interest rates. The lender will offer a revised rate between 3 per cent and 6.10 per cent for tenors from 7 days to 10 years.

ICICI Bank hikes FD interest rates by 10-25 bps on select tenors for retail investors after RBI increases its repo rate

Sep 30, 2022

RBI increased its key repo rate to 5.9 per cent on September 30. Most lenders in the country are expected to revise their fixed-term deposit rates.

With the increase in repo rate to 5.90 per cent, home loan borrowers will have two options now.

RBI's repo rate hike: You might pay Rs 59 lakh more as interest on your Rs 50 lakh home loan; Here’s how

Sep 30, 2022

The EMIs set to go up as RBI announces 50 bps hike in repo rate today. With this, EMI with floating interest rates is set go up.

India’s Retirement Index stood at 44 (on a scale 0 to 100) which reflects lag in urban India’s action on retirement planning in the one-year period.

Rising inflation emerging as a key trigger for retirement planning, survey shows

Sep 29, 2022

According to the Max Life survey, 59% believe that their savings will be exhausted within 10 years of retirement.

Anup Rau, Managing Director and CEO of Future Generali India Insurance talks about how the general insurance market's emerging segments, such as home insurance, lifestyle insurance, and travel insurance, picking up in demand.

Here's why non-motor, non-health insurance space is emerging as the next growth drivers

Sep 28, 2022

Anup Rau, Managing Director and CEO of Future Generali India Insurance in conversation with Business Today, talks about how the general insurance market's emerging segments, such as home insurance, lifestyle insurance, and travel insurance, are picking up demand.

Smart Beta investing is basically stock selection and weighting based on factors, such as risk-adjusted returns, rather than size, as defined in the underlying index methodology by NSE Indices Limited

HDFC Mutual Fund floats 2 more Smart Beta ETFs for investors

Sep 28, 2022

HDFC Mutual Fund: The two new ETFs, HDFC NIFTY 200 Momentum 30 ETF and HDFC NIFTY 100 Low Volatility 30 ETF, have generated higher long-term returns than the NIFTY 200 TRI and the NIFTY 100 TRI, respectively.

“Cyber insurance has gained momentum after the pandemic because the number of e-transactions increased significantly

What is a cyber insurance policy? Should you buy one?

Sep 24, 2022

Cyber insurance is a type of cover that protects businesses and individuals from financial losses from various digital age threats such as malware attacks, phishing, identity theft, and social media breach, among other things.

Customers can open an account with any of the several AAs operational today. They can link ongoing accounts such as savings accounts, fixed deposits, or investment schemes.

Account aggregator concept can be the next UPI in India: Adhil Shetty of BankBazaar

Sep 24, 2022

The UPI has been at the centre of a payments revolution in India. We believe AA coupled with the RBI’s groundbreaking regulations such as Video KYC will unleash a similar revolution in digital lending, Shetty said.

UPI Lite was launched on September 20 by RBI Governor Shaktikanta Das. Users can transfer money using UPI Lite without using a UPI PIN and internet. Image: Pragati Srivastava

RBI introduces UPI Lite for faster real-time, low-value transactions. Check more details here

Sep 23, 2022

UPI Lite has been launched as an on-device wallet feature that will allow users to make real-time small-value payments of up to Rs 200 without using a UPI PIN. At present, users need to enter the PIN on UPI apps, such as Google Pay, Phonepe, and Paytm.

The scheme will generate returns by investing in units of Gold and Silver ETF, where the daily weights shall be market driven with the starting (NFO) allocation of 70:30.

Motilal Oswal floats Gold and Silver ETFs Funds of Funds; check offer, other details here

Sep 23, 2022

The new fund offer will open on September 26 (Monday), and close on October 7. The minimum application amount for the Motilal Oswal Gold & Silver ETF FOF is Rs 500, followed by a multiple of Re 1.

HDFC Bank and IDBI Bank have said that September 30 will be the last day for their special fixed deposit schemes for senior citizens.

HDFC Bank, IDBI Bank to wind up these special fixed deposit (FD) schemes from October 1

Sep 22, 2022

FD rates for senior citizens: Lenders such as HDFC Bank, ICICI Bank, IDBI Bank, SBI had introduced special fixed deposit schemes for investors above 60 years during the Covid-19.

When it comes to investment and long-term savings schemes, fixed deposits are still the most popular instrument for risk-averse people.

Kotak Mahindra, South Indian Bank, Bandhan Bank increase FD interest rates. Check here for scheme details

Sep 22, 2022

Fixed deposit schemes: When it comes to investment and long-term savings schemes, fixed deposits are still the most popular instrument for risk-averse people. One should note that like all other investment options, returns on FD schemes are taxable.

NPS: Till recent times, the pensioners would have to wait for the day of authorisation of withdrawal request plus four days for settlement of the transaction.

National Pension Scheme: Improved timelines, e-nomination process, other updates all investors should note

Sep 21, 2022

National Pension Scheme: As per the new rule, the timeline for execution of withdrawal requests under the NPS account has been reduced to T+2 from a T+4 basis.

Axis Bank FD rates: The senior citizens will get a better deal between 2.75 per cent and 6.50 per cent for the FD schemes

Axis Bank announces hike in Fixed Deposit interest rates on these plans. See here

Sep 20, 2022

As per the bank's website, it is offering rates ranging from 2.75 per cent to 5.75 per cent for FD schemes below Rs 2 crore. The new rates are effective from September 20, 2022.  

According to the RBI, most large merchants have already complied with the tokenisation norms, and 195 million tokens have been issued so far. 

RBI tokenisation deadline: How to tokenise your card by Sept 30

Sep 20, 2022

With no card data being saved with the merchant, the chances of it being compromised are minimal.  

The Union Bank of India has said that it will offer an additional rate component, which is over and above the normal interest rate, to all senior citizens

Union Bank of India revises interest rate on fixed deposits below Rs 2 crore, check more details here

Sep 16, 2022

Union Bank FD Interest rate: The interest rates were revised after the Reserve Bank of India (RBI) hiked the repo rates to 5.4 per cent in August. Following that, most lenders in the country have changed their fixed-term deposit rates.

The Bank of Baroda is also offering a Baroda Tiranga Deposit Scheme, which is available in two tenor buckets.

Bank of Baroda, Hawkins increase interest rates on fixed deposits; check latest details here

Sep 14, 2022

Bank of Baroda has increased interest rates of fixed deposits by up to 20 basis points (bps) across tenors for amounts less than Rs 2 crore, while Hawkins tweaked its FD rates after keeping the rates unchanged from last year despite a hike in key rates

On salary income, advance tax is paid by an employer on behalf of the employee.

Do you need to pay advance tax before September 15? Here's all you need to know

Sep 14, 2022

Advance tax is a mandatory requirement that enables the government to receive tax revenue on a quarterly basis. But who needs to pay it? And why? Read more here.

National Pension Scheme is regulated by the Pension Fund Regulatory and Development Authority and the central government, and is a contributed retirement scheme floated in 2014.

Want to open an NPS account online? Here's a quick guide on how to manage account, get ePran card

Sep 14, 2022

National Pension Scheme: As per financial experts, NPS is one of the most effective long-term investments for one’s retirement, and also offers decent tax benefits. Here are steps you can follow in order to open an account.