Highest Fixed Deposit Rate for 6 months is offered by Bandhan Bank @ 8.00% Highest Fixed Deposit Rate for 1 year is offered by Bandhan Bank @ 8.25% Highest Fixed Deposit Rate for 2 years is offered by Bandhan Bank @ 8.25%

Sovereign Gold Bond Tranche 3rd is Open for subscription from Oct 9 to Dec 27 2017 for an Issue Price of Rs.2956 per gram

Sovereign Gold Bond Tranche 3rd is Open for subscription from Oct 9 to Dec 27 2017 for an Issue Price of Rs.2956 per gram. If you apply online you can avail a discount of Rs 50 per gram(ie Rs.2906 per gram).

Salient Features of SGB are:

• Minimum Permissible investment is 1 unit. (ie 1 gram).

• Maximum Permissible investment is 4 Kg for individual,4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal year.

• The bonds will attract fixed rate of 2.5% p.a. payable semi annually on the initial value of investment.

• The bond can be held either in demat form or in physical form.

Why You Should Invest in Sovereign Gold Bond?

The price of SGB is linked to gold prices so if gold prices go up you get benefit. It is in digital form, there is no risk of theft and issue of storage. Though the tenor of bond is 8 years it can be redeemed early after 5th year.

andhra bank fd rates

Andhra Bank Revised Interest Rates on FCNR [B] Deposits with effect from October 01 2017

FCNR(B) Deposits : Interest Rates w.e.f., October 01, 2017
 
 

The revised interest rates on FCNR [B] Deposits with effect from October 01, 2017 are as under:

Currency1 Year & above but less than 2 Years2 Years & above but less than 3 Years3 Years & above but less than 4 Years4 Years & above but less than 5 Years5 years
 NewExistingNewExistingNewExistingNewExistingNewExisting
USD

2.54

[2.44]

2.71

[2.56]

2.83

[2.62]

2.90

[2.70]

2.97

[2.79]

GBP

1.60

[1.39]

1.82

[1.55]

1.93

[1.63]

2.01

[1.71]

2.10

[1.79]

EUR

0.77

[0.75]

0.84

[0.82]

0.96

[0.92]

1.10

[1.04]

1.24

[1.17]

AUD

2.88

[2.83]

3.02

[2.97]

3.18

[3.11]

3.47

[3.38]

3.59

[3.49]

[Figures in brackets denote previous month interest rates] 

The above interest rates on FCNR (B) Deposits are applicable only to the fresh and renewed deposits from  October 01, 2017.  

Allahabad bank interest rates

Allahabad Bank Foreign Currency Non-Resident FCNR (B) Account and Resident Foreign Currency( RFC) accounts with effect from 01.10.2017

Allahabad Bank Foreign Currency Non-Resident FCNR (B) Account and Resident Foreign Currency( RFC) accounts with effect from 01.10.2017

Foreign Currency Non-Resident FCNR (B) Account and Resident Foreign Currency( RFC) accounts with effect from 01.10.2017

PeriodRevised Rate % p.a.
(w.e.f. 01.10.2017)
 USDGBPEURCADAUD
1 year to < 2 years2.791.851.023.103.13
2 years to < 3 years2.962.071.093.173.27
3 years to < 4 years3.082.181.213.283.43
4 years to < 5 years3.152.261.353.353.72
5 years only3.222.351.493.413.84

NON-RESIDENT (EXTERNAL) RUPEE TERM DEPOSIT ACCOUNT (NRE–TERM DEPOSIT)

PeriodRevised Interest Rate (w.e.f. 31.07.2017)
 For below Rs. 1.00 Crore
1 year to less than 2 years6.60

 

2 years to less than 3 years6.50

 

3 years to less than 5 years6.50

 

5 years & upto 10 years6.50

 

NON-RESIDENT (EXTERNAL) RUPEE SAVINGS DEPOSIT ACCOUNT (NRE–SB)

Savings Bank Deposits

Interest Rate

Existing Rates % p.a

Revised Rates % p.a
(w.e.f. 01.10.2017)

Balances of Less than Rs.40.00 Lakhs

4.00%

3.50%

Balances of Rs.40.00 Lakhs & Above

4.00%

4.00%

Non-Resident (Ordinary) Rupee Term Deposits & Saving Bank A/c :

The Interest rates of NRO deposits is at par with the Interest Rates for Domestic Deposits.

Differential Rate of Interest/ Additional Rate for Senior Citizens :

No Differential Rate on interest as also Additional Interest for Senior Citizens is allowed for Non-Resident Deposits.

The above rates are applicable to fresh deposits and for renewal of deposits only.

These rates are subject to change without notice and the depositors will be advised of the current rates on the date of deposit.

Allahabad Bank Tax Benefit Term Deposit Scheme

"Allahabad Bank Tax Benefit Term Deposit Scheme" offering the benefit under Sec.80C of Income Tax Act for the depositors (Income Tax assesses).

Investment :Any amount not exceeding Rupees one lakh in a year commencing on the 1st day of April of respective years. The amount to be deposited shall be a minimum of Rupees one hundred or multiples thereof.

Types of the Deposit : Can be opened in the following types, namely : -

  1. Single holder Type Deposits : Individual for himself or in the capacity of the "Karta" of a Hindu Undivided Family.
  2. Joint holder type deposits : Jointly in the name of two or more persons payable to either of the holders or to the survivor. Deduction from income under section 80C of Income Tax Act shall be available only to the first holder of the deposit.

Tenure of Deposit : Five years.

Encashment option : Premature encashment is not permissible.

Rate of interest : The rate of interest on Allahabad Bank Tax Benefit Term Deposit Scheme will be @ 6.50% p.a. for fresh deposits only. No additional rate of interest for Senior Citizens and Staff of the Bank.

TDS on interest : Interest is liable to tax under section 194A or section 195 of Income Tax Act, on the basis of annual accrual or receipt, depending upon the method of accounting followed by the assessee.

Pledging of the Deposit : Can not be pledged to secure loan or as security to any other asset.

Nomination : Available.

Transfer from one branch to another :The deposit may be transferred from the issuing branch to another branch but not transferable from one bank to another bank.

 

SBI reduces interest on fixed deposits

Country’s largest lender State Bank of India has cut its term deposit rates by 0.25 percent effective from October 1.

According to the new structure, for up to 1-year deposits, SBI will offer a rate of 6.50 percent as compared to 6.75 percent earlier.

The rates have been revised for up to 1-year term deposits and for amount below Rs one crore.

According to the new structure, for up to 1-year deposits, SBI will offer a rate of 6.50 percent as compared to 6.75 percent earlier.

sbi fd rates

SBI Base Rate Revised

SBI has cut base rate to 8.95% from 9% for home loan borrowers. It will become effective from October 1.

SBI has cut base rate to 8.95% from 9%. This will be effective from October 1.

Andhra Bank and Bank of Baroda on Thursday reduced their base rate to 9.55% from 9.70% and 9.15% from 9.50% respectively. This will come in force starting October.

Those existing home loan borrowers, who had availed home loans before April 1, 2016 will be benefited as their home loans are linked to the erstwhile base rates of the banks. Many borrowers have no moved from base rate to MCLR.

It’s suggested that borrowers should switch to MCLR to keep on getting benefits of moving rates.

SBI Revises Savings Bank Account Closure Charges

SBI Revises Savings Bank Account Closure Charges

SBI Revises Savings Savings Bank Account Closure Charges with effect from 1st October 2017.

1.There will be no charges on closing the account upto 14 days of Account opening

2. After 14 days and upto 1 year of opening the account closing charges are Rs500+ GST

3. Beyond 1 year of opening the account closing charges are NIL

4. Closure of account by BSBD customers there will be no charges.

State Bank Revised Average Balance Limit

State Bank of India (SBI) has reviewed the requirement of maintaining Monthly Average Balance (MAB) and the charges for non-maintenance of MAB. In this context SBI would like to state that financial inclusion including JAN DHAN Accounts have never been subject to any charges. In respect of the rest, it has now been decided to exempt the pensioners, beneficiaries of social benefits from the Government and accounts of Minors. Therefore, this is in addition to the already exempted categories under PMJDY accounts and Basic Savings Bank Deposits Accounts (BSBD).