State Bank of India (SBI) recently hiked interest rates on its retail term deposits by 25-75 basis points for tenures of up to one year. With interest rates at or very close to the peak, this is a good time for fixed deposit (FD) investors to lock into current rates.
Two factors may have caused SBI to hike its FD rates.
"Credit demand has been strong, pushing the creditdeposit ratio of banks to elevated levels. Moreover, the Reserve Bank of India (RBI) has kept liquidity tight to rein in inflation, so banks are raising money via deposits to have liquidity on their balance sheets," says Vishal Dhawan, chief financial planner, Plan Ahead Wealth Advisors.
Capitalise on current rates
To capitalise on current rates, go for FDs of longer tenures.
Esta historia es de la edición May 23, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición May 23, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
Indian sports beyond the boundary
Little has been written about Indian sport, and practically nothing about the governance challenges as sport is powered by commerce.
Expansion of Ayushman Bharat a priority
Expansion of Ayushman Bharat Yojana to cover everyone aged above 70 years, launch of the National Health Claims Exchange (NHCX) and a special drive against tobacco use among youngsters were among the top agenda items discussed during the first high-level meeting chaired by Union Minister of Health and Family Welfare, JP Nadda on Friday.
MAKING A RACQUET
At long last, India has a player in the top 100 ATP rankings. But can Indian tennis match the success of badminton?
Will rural consumers roar?
\"Rural FMCG growth overtakes urban after 5 quarters,\" read the headline (Business Standard, May 8, 2024).
MFS or NPS? Go for both if you don't mind latter's lock-in
If one were to compare the category average returns of Tier-I equity plans of the National Pension System (NPS) with the direct plans of largecap mutual funds (MFS), the latter have a small edge currently.
Ambuja eyes more buys after Penna deal
Adani Group aims to become leader in cement sector in 4 years
Sensex, Nifty hit lifetime highs
Benchmark equity indices Sensex and Nifty hit their new closing lifetime highs on Friday, following buying in market heavyweights HDFC Bank, Reliance Industries and Mahindra & Mahindra amid encouraging export data.
Short-term margin overhang likely for Tata Communications
The management of Tata Communications presented its product-to-platform strategy and explained how it hopes to grow its new products and portfolios, and geographies.
CLSA sees further rerating scope in Vedanta
Shares of Vedanta rose as much as 2.8 per cent on Friday after the Hong Kong-based brokerage CLSA in a report said there was scope for further re-rating for the stock.
Abrdn favours Chinese, Indian stocks on policy boost hopes
Abrdn Plc prefers Chinese and Indian stocks over their Japanese peers in the next three to six months, betting that the right policy moves would help the two emerging markets lure fund inflows.
