One crucial decision when choosing a home loan is between fixed and floating interest rates. Each type has pros and cons, and understanding the differences is key to making an informed decision. This knowledge empowers you to choose the best option for your financial situation. Fixed Interest Rate on Home Loans: A fixed interest rate, … Read more
Post offices offer several popular schemes, including significant benefits for senior citizens. One such scheme allows you to receive a monthly income of 20,000 rupees or more. This guaranteed fixed income is substantial for retirees to cover their basic expenses. The scheme, known as the Senior Citizen Savings Scheme, is available specifically for individuals over … Read more
Agricultural loans are essential for farmers, and around 75 percent of the loans from rural banks are for agriculture. Farmers can benefit from comprehensive information when taking crop loans. Crop Loan Interest: Interest on crop loans is usually lower, around 7 percent, compared to other types of loans. Crop Loan Renewal: Farmers can benefit from … Read more
Are you considering buying a new car and thinking about getting a loan from a bank? Opting for a low-interest rate loan can decrease the interest burden. What would be the monthly EMI if you borrow Rs. 5 lakh for a car? Also, which banks offer low interest rates? This is a list of banks … Read more
Great news for those interested in making bank deposits! Here are the top 7 banks offering the highest interest rates. A three-year term deposit scheme offering an impressive 9.5% interest rate is available to senior citizens. Let’s take a look at the list of these banks. Many retired individuals keep some of their savings in … Read more
IDBI Bank, one of the leading private sector banks in the country, has recently announced an increase in interest rates on domestic fixed deposits below Rs 3 crore, effective August 15, 2024. The bank currently offers interest rates ranging from 3.00% to 7.35% for general customers and 3.50% to 7.85% for senior citizens on deposits … Read more
Many banks have revised the interest rates charged on home loans. This increase will increase the interest paid on home loans. Thus, your EMI will increase. Check here for details of major banks’ home loan interest rates. If you are considering buying a home and wondering where to get a home loan, compare the interest … Read more
Gold loans are considered a safer option than most other types of loans. Gold in jewelry or coins can be used as collateral to obtain a loan. Most banks offer gold loans and are not dependent on credit scores. This makes them a viable option when needing a large sum of money. However, it’s important … Read more
ICICI Bank, a prominent private sector bank, has announced an increase in its fixed deposit interest rates. The revised rates will apply to retail term deposits up to Rs 3 crore. After the revision, regular citizens can earn a maximum interest rate of 7.25%, while senior citizens will receive up to 7.80%. The updated rates … Read more
The retirement fund body Employees Provident Fund Organization (EPFO) fixed the EPF Interest Rate 2024 at 8.15% on the Employees Provident Fund (EPF) for the financial year 2022-23. For the unversed, an employee’s EPF contribution is credited to their EPF account every month, and interest is calculated every month. However, the total interest for the … Read more