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
The Sukanya Samriddhi Yojana (SSA) is a government-backed savings scheme in India specifically designed to promote the welfare and financial security of the girl child. Launched under the “Beti Bachao, Beti Padhao” campaign, this scheme offers a high-interest rate and significant tax benefits, making it an ideal long-term investment option for parents. Current Interest Rate … Read more
Banks often introduce new schemes by offering higher interest rates to attract more deposits. This week, two leading banks have introduced new fixed deposit schemes with a maximum interest rate of 8.85%. If someone deposits Rs. 1 lakh in this scheme, the amount after maturity can be calculated. Many banks revised their fixed deposit interest … Read more
Are you looking for investment plans that offer reasonable interest with zero risk? This is for you! Many banks offer the highest interest rates on Fixed Deposits (FDs). While it’s true that the more risk you take in investments, the more you can earn, it’s also important to remember that it increases the potential for … Read more