Before opening a fixed deposit (FD) with a bank, depositors tend to compare the interest rates offered by a bank with those of other banks. Typically, banks offer higher rates of interest on long term deposits. This means longer the duration, higher the rate of interest. Conversely, shorter the duration, lower the rate of interest. … Read more
Public-sector banks such as Bank of Baroda, Canara Bank, and UCO Bank, have increased their Marginal Cost of Funds-based Lending Rates(MCLR) in different tenures which will result in higher costs for consumer loans. Marginal Cost of Funds based Lending Rate (MCLR) is the minimum lending rate below which a bank is not allowed to lend … Read more
Union Bank of India has recently revised its interest rates on fixed deposits and now it offers a special interest of 7.4 percent to regular citizens on term deposits of 333-day tenure. Senior citizens, meanwhile, are entitled to an extra 50 basis points i.e., 7.9 percent on the term deposit of same tenure, while super … Read more
Before you open a fixed deposit (FD) in a bank, it is natural to compare the term deposit interest rate with those of others. Most banks offer anywhere between 3 and 7 per cent per annum on their fixed deposits based on their tenure. The rule of thumb is this: the longer the tenure, the … Read more
Regardless of Reserve Bank of India (RBI) keeping its repo rate constant at 6.5 per cent, Bank of Baroda raised its MCLR across four tenors by 5 basis points with effect from today i.e., April 12, 2024. Bank of Baroda’s base rate is now 9.40 percent with effect from Friday. Additionally, BPLR for all the existing accounts … Read more
The 30-share BSE Sensex ended flat by 60.80 points at 73,806.15 level while the Nifty 50 closed at 22,378.40 level, up 39.65 points or 0.18%. Also Read: Stock market today: Sensex ends flat, Nifty 50 closes up by 39.65 points in second part of special trading session Net-net, the Nifty 50 was able to close … Read more
Kotak Mahindra Bank has announced the launch of Smart Choice Gold Loan meant for aspirational customers. The private lender — in a statement — said the loan offers five key features and would turn out to be a compelling alternative to conventional credit options. These key features are: 1) fixed monthly interest rate as low … Read more