Tagged with:
Infrastructure •
infrastructure bondAfter Budget 2010 , Infrastructure Bond is somethign that will get more popular , as Mr Pranab Mukerji has allowed extra Twenty thousand in Infrastructure Bond , as additional investment over and above Rs 1 lakh in 80C.
What are Infrastrucure Bonds ?
Infrastructure bonds are available through issues of ICICI Bank and IDBI, brought out in the name of ICICI Safety Bonds and IDBI Flexibonds. These provide tax-saving benefits under Section 88 of the Income Tax Act, 1961, up to an investment of Rs.1,00,000, subject to the bonds being held for a minimum period of three years from the date of allotment.
Tagged with:
deposit •
deposit rates •
sbi •
state bank of indiastate bank of india revises deposit rates down by 25 basis points from october 5th 2009 on all its term deposits, this is for all domestic deposit rates below 1 crore.
Tagged with:
bplr •
interest rate •
sbi •
state bank of indiaState Bank of India yeaterday announced that it will be cutting benchmark prime lending rate by 50 basis points to 11.75 per cent with effect from June 29.This is the second bank after Union bank of india , and im sure more banks will follow this .They did cut deposit rate by 25 basis point on june 15th 2009 .
Tagged with:
lending rate •
plr •
union bank Union Bank of India informed the market yesterday that they have announced a 25-basis-point reduction in PLR to 11.75 per cent, and that will be effective from July 1st 2009 , think Union Bank of india is the first to do it after a long time and this is infact the first bank to do it after the Finance Minister’s meeting with PSU bank chiefs on June 10 2009 .
Tagged with:
deposit •
high paying interest •
tata ncdTata Capital NCD
Tata Capital informed the market that they are raising Rs 500 crore through a non-convertible debenture issue,which has already opened on February 2nd 2009 and it will be open till February 24th 2009 .they will be allowed to retaining up to 1000 crore if it get over subscribed by more then 500 crore.
Open Date : February 2 2009
Close Date : February 24, 2009
Interest : 12 Percent Varies based on the Monthly or Quarterly Interest.
Redemption : In 5 years,put and call options offered to investors at the expiry of 36 months and 42 months.
Minimum Amount : 10,000
The minimum application amount is Rs 10,000 for the quarterly, annual and cumulative interest payment options (coupon rate of 12 per cent an annum); and Rs 1 lakh for the monthly interest payment option (coupon rate of 11.25 per cent an annum).
Fund Usage :
Tata group in turn will use the proceeds of the issue for its business growth and a repay existing costlier debt, this is good for the tata group and not sure for the tata capital how they will repay.
Credit Rating
High credit rating of “LAA+” by ICRA and “CARE AA+” by CARE
Final Highlights
• Interest at the rate of 12% per annum is offered for the annual and cumulative interest payment options.
• Quarterly interest payment option to offer a coupon rate of 11.25% per annum with an annualized yield of 11.73%.
o For the quarterly, annual and cumulative interest payment options the minimum application size is Rs 10,000 and additional investments in multiples of Rs 1,000.
• Monthly interest payment option to offer a coupon rate of 11% per annum with an annualized yield of 11.57%. The minimum application size is Rs 100,000 and additional in multiples of Rs. 100,000
• Interest on application money at the rate of 8% p.a. to be paid from the date of realization of the cheque or 5 days after the date of application, whichever is later, upto one day prior to the deemed date of allotment.
Tagged with:
CRR •
interest rate •
rate cut •
repo rate •
reserve repo rateIn order to cope up with the Global recession all the country are doing this almost every month and India which was not really into recession is trying to take all the measure to kepp away from it , But its kind of deeper that expected , Out of the various cuts that Reserve bannk of india has did this is the latest
Repor Rate cut
To reduce the repo rate under the liquidity adjustment facility (LAF) by 100 basis points from 6.5 per cent to 5.5 per cent with immediate effect.
Reserve Repo Rate
To reduce the reverse repo rate under the LAF by 100 basis points from 5.0 per cent to 4.0 per cent with immediate effect.
Cash Reserve Ratio – CRR Rate
To reduce the cash reserve ratio (CRR) of scheduled banks by 50 basis points from 5.5 per cent to 5.0 per cent from the fortnight beginning January 17, 2009.
The CRR cut is not immdiate but atleast its happening this si the only gfactor that will put some money in banks hand which in turn can be used by banks for various purpose , So this cut will release 20,000 crore.We can expect more rate cuts in lending loansfrom various banks.
Tagged with:
bplr •
loan rate •
rate cut •
sbi •
state bank of indiaState bank of india announced over weekend that they have cut the BPLR by .75 percent , This means that the BPLR which governs the Home loan lending rate is also cut and now it stands at
Loan Rates
>9 per cent for loans up to Rs 30 lakh for a period of five years.
>For loans that are between period of 5 to 15 years the revised interest rate is 9.25 per cent.
>For Loan above 15 and below 25 years rate will be 9.5 per cent.
This will come into effect from January 1.
Tagged with:
canara bank •
Financial services •
housing loan •
Interest •
MortgageCanara Bank has informed the market after it reduces the BPLR it has also reduces the Housing loans by 75 basis points sanctioned on or after November 10. For tenures of up to five years, the rate will now be 9.50 per cent for loans up to Rs. 30 lakh and 10.25 per cent for loans above Rs. 30 lakh. This floating rate.
Tagged with:
Bank •
home loan •
interest rate •
lending rate •
repo ratePSU Bank after meeting with finance minister P.Chidambaram have agree to cut the Prime lending rate by 75 basis points.Not sure it will be straight 75 basis points cut but it will be in the range .So india inc can breath little bit easy ,Credit guarantee on loans will be extended to Rs one lakh crore and deposit rates will be cut by 50 basis points.This is in reply to RBI measure which cut the CRR and lendign rate to bank by massive 3.5 percent and 1 percent .Which has almost release more than 200000 crore liquidity.RBI is ready to take more measures to maintain the liquidity.One bad news is Deposit interest rate might come down .
Tagged with:
Bank •
Fixed DepositBased on the banks in india this is the list of interest rate they are paying for anything more than 400 to 500 days of deposit .This varies for normal person and those who are senior citizen , help yourself and earn interest through Fixed Deposit .
| Bank Name |
Senior Citizen |
Normal |
| Bank Of Rajasthan |
10.75 |
10.25 |
| State Bank Of Mysore |
10.75 |
10.25 |
| Tamilnad Mercantile Bank |
10.75 |
10.5 |
| Catholic Syrian Bank |
10.6 |
10.15 |
| Federal Bank |
10.6 |
10.1 |
| SBI Commercial and International Bank |
10.6 |
10.1 |
| Axis Bank |
10.5 |
9.5 |
| Canara Bank |
10.5 |
10 |
| DBS Bank |
10.5 |
10.25 |
| IDBI Bank |
10.5 |
10 |
| Indian Overseas Bank |
10.5 |
9.75 |
| Nainital Bank |
10.5 |
10 |
| South Indian Bank |
10.5 |
10 |
| State Bank Of Hyderabad |
10.5 |
10 |
| State Bank Of India |
10.5 |
10 |
| State Bank Of Indore |
10.5 |
10 |
| YES Bank |
10.5 |
10 |
| Jammu & Kashmir Bank |
10.35 |
9.85 |
| Allahabad Bank |
10.25 |
9.75 |
| Andhra Bank |
10.25 |
9.75 |
| Bank Of Baroda |
10.25 |
9.75 |
| Bank Of India |
10.25 |
9.75 |
| City Union Bank |
10.25 |
10 |
| Dhanalakshmi Bank |
10.25 |
9.5 |
| Karnataka Bank |
10.25 |
9.5 |
| Karur Vysya Bank |
10.25 |
9.75 |
| Kotak Mahindra Bank |
10.25 |
10 |
| Punjab and Sind Bank |
10.25 |
9.75 |
| Punjab National Bank |
10.25 |
9.75 |
| State Bank of Bikaner and Jaipur |
10.25 |
9.75 |
| State Bank Of Travancore |
10.25 |
9.75 |
| Union Bank Of India |
10.25 |
9.75 |
| Vijaya Bank |
10.25 |
9.75 |
| UCO Bank |
10.1 |
9.6 |
| Bank of Maharashtra |
10 |
9.5 |
| Central Bank Of India |
10 |
9.5 |
| Corporation Bank |
10 |
9.5 |
| Indian Bank |
10 |
9.5 |
| State Bank Of Patiala |
10 |
9.5 |
| State Bank Of Saurashtra |
10 |
9.5 |
| ABN AMRO Bank |
9.75 |
9.5 |
| Lakshmi Vilas Bank |
9.75 |
9.25 |
| IndusInd Bank |
9.6 |
9.1 |
| Citibank |
9.5 |
9 |
| HDFC Bank |
9.5 |
9 |
| ICICI Bank |
9.5 |
9 |
| Syndicate Bank |
9.5 |
9 |
| Dena Bank |
9.25 |
8.5 |
| ING Vysya Bank |
9.25 |
9 |
| Oriental Bank Of Commerce |
9.25 |
8.75 |
| UCO Bank |
9.25 |
8.75 |
| United Bank Of India |
9 |
8.5 |
| Development Creadit Bank |
8.8 |
8.3 |
| Development Credit Bank |
8.8 |
8.3 |
| Barclays Bank |
8 |
8 |
| Deutsche Bank |
7.5 |
7.5 |
| Standard Chartered Bank |
6.7 |
6.7 |
Disclaimer : I have taken my time to verify the data but please do verify with your local branch to make sure , before you proceed with any deposits.
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