Editorji is a popular short video news and information platform based in India. It was founded in 2018 by Vikram Chandra, one of India’s leading journalists, and has risen to prominence in the digital news space in a relatively short span of time. The platform is primarily designed for mobile devices, with applications available for Android and iOS.

ABOUT US:

about us editorji

Latest Video News: Editorji provides the latest news video headlines, latest videos clip from India and the World. Get all breaking news videos on Entertainment, Business, Coronavirus, Elections, Politics and more.

Latest Video News, Breaking News, Bollywood, Political, Sports, Business News | Editorji

+91 11 4035 6666 / info@editorji.com
3rd floor, Plot B, Khasara no 360, Sultanpur, New Delhi, Delhi 110030
<a title="mail to us" href="mailto:info@editorji.com">Send Feedback</a>
<a title="Contact Us" href="mailto:info@editorji.com">Contact Us</a>

REACH US

Contact for any questions, suggestions, comments, feedback or advertisement on Editorji.com, we are always looking forward to hearing from you.

Contact Us for Feedback, Suggestions and Advertising 

Editorji content is better experienced in our app.

After the new taxation laws for the funds that went into effect on April 1, High Net Worth Individuals are choosing bank Fixed Deposits over debt mutual funds

HNIs preferring FDs over debt mutual funds: report

After the new taxation laws for the funds that went into effect on April 1, High Net Worth Individuals are choosing bank Fixed Deposits over debt mutual funds

With the debt mutual fund schemes now under the tax ambit, the attractiveness of the product has reduced as High Net worth Individuals (HNIs) are favouring bank fixed deposits (FDs) over such funds, according to a report by Motilal Oswal Financial Services on Thursday.
In addition, interest rates on bank deposits have increased significantly over the past one year. This led to HNIs getting inclined towards bank fixed deposits over debt mutual funds, Nitin Aggarwal, Head of BFSI Research at Motilal Oswal Institutional Equities, said.
Although HNIs comprehend the advantages of mutual funds over other financial products, past problems in the sector still concern them.
The report is based on the inputs of large mutual fund distributors, having an asset under management (AUM) in excess of Rs 1,000 crore, and institutional sales representatives. Going by the report, HNIs have also been preferring PMS (Portfolio Management Schemes) and AIFs (Alternative Investment Funds) as they find mutual fund products commoditised.
When it comes to systematic investment plans (SIPs), HNI customers have failed to maintain higher ticket SIPs as the returns through the route over the past three years have been minimal. This led to the HNI segment experiencing lower renewal rates of SIPs. &nbsp;HNIs are preferring bank FDs over the debt mutual fund following the new taxation rules for the funds that kicked in from April 1. &nbsp;
Under the new rule, investment in debt mutual funds that are bought on or after April 1, 2023, will be taxed as short-term capital gains at applicable tax rates. That is, capital gains from debt funds, international funds and gold exchange traded funds (ETFs), irrespective of their holding period, will be taxed at an individual's relevant applicable tax rate. &nbsp;Debt mutual funds held for more than three years will no longer enjoy indexation benefits and additionally, existing LTCG (Long-Term Capital Gain) benefits will continue for investments made on or before March 31, 2023.
Indexation takes into account the inflation during the holding period of a mutual fund unit and consequently increases the purchase price of the asset and this reduces the tax.&nbsp;

Banks are forced to offer inflation-beating deposit rates for a tenor ranging from 200 to 800 days as credit growth has been far outpacing deposit mobilization throughout this fiscal, leading to a funding crunch

Fixed deposit rates turn positive at 8% for the first time in many years

Banks are forced to offer inflation-beating deposit rates for a tenor ranging from 200 to 800 days as credit growth has been far outpacing deposit mobilization throughout this fiscal, leading to a funding crunch

Banks are forced to offer inflation-beating real interest rates on fixed deposits.
State-run banks are offering higher deposit rates, with the highest rate being offered by Punjab &amp; Sind Bank at 8-8.50 per cent.&nbsp;
These inflation-beating deposit rates are for a tenor ranging from 200 to 800 days as credit growth has been far outpacing deposit mobilization throughout this fiscal, leading to a funding crunch.
Even at the lowest 7 per cent, fixed deposit pricing is positive for customers because even after a surprise spurt in retail inflation for January at 6.52 per cent, the real rates are in the green.&nbsp;
The high rate offering also comes as banks have almost fully passed on the 250-bps hike in RBI rate since May last year to their borrowers, they've not been doing so for deposits, leading to a funding gap and forcing them to borrow from the market.&nbsp;
The nation's largest lender State Bank of India, is offering 7.10 per cent for the general public and a higher 7.60 per cent to senior citizens on an annualised basis for fixed deposits in the 400 days bucket.
On the other hand, the largest private sector lender HDFC Bank offers only 7 per cent to the general public and 7.50 per cent to senior citizen depositors for five years, while its immediate peer ICICI Bank gives 7 per cent for more than 15 months to retail and 7.5 per cent to senior citizens for over 15 months.&nbsp;

Union Budget gives a reasons to cheer for savers. Lenders like State Bank of India (SBI), HDFC Bank, Axis Bank and ICICI Bank have opted to hike the deposit rates.
The rising rate comes as a good news for depositers who have been earning one of the lowest rates of interest in almost 20 years. 
The State Bank of India, which is the largest lender in India, has increased deposit rates on fixed deposits two times earlier in this week. There is a chance of a change in the interest-rate cycle, SBI is taking inspiration from private lenders HDFC Bank, Axis Bank and ICICI Bank.HDFC BankAccording to its website, now FDs with tenure between 2 years 1 day and 3 years will earn 5.2%, 3 year 1 day and 5 years will fetch 5.4% and 5 years 1 day and 10 years will fetch 5.6%.
Compared to this, for deposits below Rs 2 crore, State Bank of India (SBI) is offering interest rates in the range of 2.9-5.4% on FDs with various tenors ranging from 7 days to 10 years. 
In the case of ICICI Bank, the interest rates are applicable for new deposits and renewal of existing fixed deposits. The bank gives interest rates ranging from 2.5 per cent to 5.50 per cent on deposits maturing in 7 days to 10 years. Senior citizens continue to get a 50 basis points (bps) higher interest rate than others.
Kotak Mahindra Bank has hiked the interest rate on fixed deposits (FD) across various tenors. After the latest revision, for FDs maturing in 7 to 30 days, 31 to 90 days and 91 to 120 days, Kotak Mahindra Bank offers an interest rate of 2.5%, 2.75% and 3% respectively. 
 

FD rate hike: Time to start saving - get all  the details here 

The rising rate comes as a good news for depositors who have been earning one of the lowest rates of interest in almost 20 years. 

Check out the new rates here: 

Fixed Deposits interest rates hike? check latest FD rates here

Union Budget 2022 may have&nbsp;disappointed&nbsp;taxpayers but this could be a good news for savers.&nbsp;
Major banks like SBI, HDFC Bank and ICICI&nbsp;Bank have increased interest rates on fixed deposits&nbsp;in January 2022.
This enables higher returns for depositors on FDs&nbsp;who have been earning one of the lowest interest rates in decades.&nbsp;
Editorji&nbsp;compiles the latest FD rates for you:
HDFC&nbsp;Bank, in a recent update, has revised its interest&nbsp;rate on Fixed deposits.&nbsp;
According to the website, now FDs with tenure between 2 years 1 day and 3 years will earn 5.2%, 3 year 1 day and 5 years will fetch a 5.4% rate and 5 years 1 day and 10 years will fetch 5.6%.
Compared to this, The State Bank of India, which is the largest lender in India, has increased deposit rates on fixed deposits not once but twice earlier this month. After the latest revision, SBI is giving 5.1% on FD with tenure between 1 year to less than 2 years. For senior citizens the rate has been increased from 5.50 percent to 5.60 percent. ICICI&nbsp;- ICICI Bank gives interest rates ranging from 2.5 percent to 5.60 percent&nbsp;on deposits maturing in 7 days to 10 years.&nbsp;
According to the bank&rsquo;s website, ICICI Bank is offering a&nbsp;5.20%&nbsp;percent interest rate on FDs maturing in&nbsp;2 years 1 day to 3 years whereas&nbsp;a 5.60 percent interest rate on FDs maturing in 5 years to 10 years.
 Kotak Mahindra Bank&nbsp;has hiked the interest rate on fixed deposits (FD) across various tenors. After the latest revision, the interest rate by 10 bps to 5.3% on fixed deposits maturing in 3 to 5 years. Investors will also receive returns at an interest rate of 5.3% on term deposits maturing in 5 years to 10 years.

The interest rate on fixed deposits for tenure 1 year to less than 2 years has been increased to 5.1% from 5.0%. For senior citizens the rate is increased from 5.50% to 5.60%

Though Union Budget 2022 disappoints majority of taxpayers but this might be a good news for savers.&nbsp; Lenders such as State Bank of India (SBI) and HDFC Bank have revised interest rates on fixed deposits (FDs), enabling higher returns for depositors on maturity. The rising rate comes as a good news for depositors&nbsp;who have been earning one of the lowest rates of interest&nbsp;in almost 20 years.&nbsp; Also read: <a title="Forgot it ...then fix it! Tax payers get 2 years to report 'overlooked' income" href="https://www.editorji.com/business-news/personal-finance/forgot-it-then-fix-it-tax-payers-get-2-years-to-report-overlooked-income-1643772243376">Forgot it ...then fix it! Tax payers get 2 years to report 'overlooked' income</a>
Here&nbsp;Editorji&nbsp;lists down the latest FD rates for you:
The State Bank of India, which is the largest lender in India, has increased deposit rates on fixed deposits two times earlier in this week. There is a chance of a change in the interest-rate cycle, SBI is taking inspiration from private lenders HDFC Bank, Axis Bank and ICICI Bank. HDFC&nbsp;Bank According to its website, now FDs with tenure between 2 years 1 day and 3 years will earn 5.2%, 3 year 1 day and 5 years will fetch 5.4% and 5 years 1 day and 10 years will fetch 5.6%.
Compared to this, for deposits below Rs 2 crore, State Bank of India (SBI) is offering interest rates in the range of 2.9-5.4% on FDs with various tenors ranging from 7 days to 10 years.&nbsp;
In the case of&nbsp;ICICI Bank, the interest rates are applicable for new deposits and renewal of existing&nbsp;fixed deposits. The bank gives interest rates ranging from 2.5 per cent to 5.50 per cent on deposits maturing in 7 days to 10 years. Senior citizens continue to get a 50 basis points (bps) higher interest rate than others.
Kotak Mahindra Bank has hiked the interest rate on fixed deposits (FD) across various tenors. After the latest revision, for FDs maturing in 3 years, 5 years and 10 years,&nbsp;Kotak Mahindra Bank&nbsp;offers an interest rate of 5.15%, 5.3% respectively.&nbsp;

Banks are slowly beginning to increase FD rates now. First HDFC Bank and then over the weekend India's largest bank SBI as well raised rates trying to attract savers. According the SBI website, the bank has hiked the interest rate of FDs below Rs 2 crore with a tenure of 1 year to less than 2 years by 10 basis points. These FDs will now earn 5.1% (increased from 5%), with effect from January 15, 2022. Senior citizens will earn 5.6% (up from 5.5%).Even though this signals good news for savers it could very well be the precursor of rising loan rates in the country as well. In December 2021, SBI had increased its base rate by 0.10 percent or 10 bps. The new base rate, that is, 7.55% per annum has been effective since December 15. Banks across the board are likely to start 'normalising' rates as inflation remains high and the risk of rate hikes in 2022 increase from central banks. 

FD interest rate hike: Good for savers but could spell bad news for borrowers

According the SBI website, the bank has hiked the interest rate of FDs below Rs 2 crore with a tenure of 1 year to less than 2 years by 10 basis points. These FDs will now earn 5.1% (increased from 5%), with effect from January 15, 2022. Senior citizens will earn 5.6% (up from 5.5%).

Why the fixed deposit rate hike could spell bad news

SBI has hiked&nbsp; interest rate of FDs below Rs 2 crore with a tenure&nbsp; less than 2 years

Banks are slowly beginning to increase FD rates now. First HDFC&nbsp;Bank and then over the weekend India's largest bank SBI&nbsp;as well raised rates trying to attract savers.&nbsp; Also read:&nbsp;<a title="Budget 2022: Tax on cryptocurrencies, its definition and more" href="https://www.editorji.com/business-news/budget-2022-tax-on-cryptocurrencies-its-definition-and-more-1642390331244">Budget 2022: Tax on cryptocurrencies, its definition and more</a> According the SBI website, the bank has hiked the interest rate of FDs below Rs 2 crore with a tenure of 1 year to less than 2 years by 10 basis points. These FDs will now earn 5.1% (increased from 5%), with effect from January 15, 2022. Senior citizens will earn 5.6% (up from 5.5%). Even though this signals good news for savers it could very well be the precursor of rising loan rates in the country as well.&nbsp;In December 2021, SBI&nbsp;had increased its base rate by 0.10 percent or 10 bps. The new base rate, that is, 7.55% per annum&nbsp;has been effective since December 15. Banks across the board are likely to start 'normalising' rates as inflation remains high and the risk of rate hikes in 2022 increase from central banks.&nbsp;

Tech giant Google may be teaming up with a host of small banks such as&nbsp;Equitas Small Finance Bank,&nbsp;Ujjivan Small Finance Bankand&nbsp;AU Small Finance Bank for deposits to finally be able to offer FD investment options from the Google Pay app as per reports.&nbsp;For the actual investment platform reports indicate that search giant Google is set to partner up with startup Setu.&nbsp;Setu&nbsp;a fintech startup&nbsp;has reportedly already readied a&nbsp;test version with Google that offers deposits of various time periods.

You can soon open a FD through your Google Pay

You can soon open a FD through your Google Pay, Search giant partners with fintech startup&nbsp;Setu and host of small banks as per reports.&nbsp;

Tech giant Google may be teaming up with a host of small banks such as&nbsp;Equitas Small Finance Bank,&nbsp;Ujjivan Small Finance Bank and&nbsp;AU Small Finance Bank for deposits to finally be able to offer FD investment options from the Google Pay app as per reports.&nbsp;
For the actual investment platform reports indicate that search giant Google is set to partner up with startup Setu.&nbsp;
Setu&nbsp;a fintech startup&nbsp;has reportedly already readied a&nbsp;test version with Google that offers deposits of various time periods.

Reports suggest that tech giant will partner with&nbsp;Equitas Small Finance Bank for the deposits. 
<div>&nbsp;</div>

Tech giant Google may be teaming up with a host of small banks such as&nbsp;Equitas Small Finance Bank,&nbsp;Ujjivan Small Finance Bank and&nbsp;AU Small Finance Bank for deposits to finally be able to offer FD investment options from Google Pay app as per reports.&nbsp; For the actual investment platform reports indicate that search giant Google is set to partner up with startup Setu.&nbsp; Setu&nbsp;a fintech startup&nbsp;has reportedly already readied a&nbsp;test version with Google that offers deposits of various time periods.

Mortgage lender HDFC Ltd has increased interest rates on its various fixed deposit products having different maturities by up to 25 basis points (bps) with effect from March 30.
The increase in rates by the housing finance company comes at a time when all the lenders have been reducing interest rates on their fixed deposits.
For special fixed deposits up to Rs 2 crore and maturing in 33 months, HDFC is offering an annual interest rate of 6.20 per cent, according to the information available on its website. Deposits maturing in 66 months will fetch an annual rate of interest of 6.60 per cent.
For 99-month fixed deposits, the new rate has been kept at 6.65 per cen

HDFC increases FD rates up to 25 bps

Mortgage lender HDFC Ltd has increased interest rates on its various fixed deposit products having different maturities by up to 25 basis points (bps) with effect from March 30.
&nbsp;

<ul>
<li>HDFC Ltd increases interest rates on various fixed deposit products</li>
<li>HDFC&nbsp;raises FD rates upto&nbsp;25 basis points&nbsp;</li>
<li>33 month maturity &lt; Rs 2 cr, FD rate now at 6.2%</li>
<li>99-month fixed deposits rate at 6.65%</li>
</ul>

Mortgage lender HDFC Ltd has increased interest rates on its various fixed deposit products having different maturities by up to 25 basis points (bps) with effect from March 30.
The increase in rates by the housing finance company comes at a time when all the lenders have been reducing interest rates on their fixed deposits.
For special fixed deposits up to Rs 2 crore and maturing in 33 months, HDFC is offering an annual interest rate of 6.20 per cent, according to the information available on its website. Deposits maturing in 66 months will fetch an annual rate of interest of 6.60 per cent.
For 99-month fixed deposits, the new rate has been kept at 6.65 per cent

fixed deposits

Categories