Category Archives: Fixed Deposit

Highest Paid Deposit As on January 2012 -Senior Citizen and Normal Rate

Highest Paid Deposit As on January 2012 -Senior Citizen and Normal Rate

Institution Duration Rate Senior Citizen Deposit Amount Restrictions
Lakshmi Vilas Bank (LVB) 1 year-2 years 10.5 10.75
Tamilnad Mercantile Bank (TMB) 1 year-2 years 10.25 10.5 Must be atmost Rs. 1 crore
Catholic Syrian Bank (CSB) 375 days-990 days 10.1 10.6 Must be atmost Rs. 50 lakhs
City Union Bank (CUB) 1 year-3 years 10 10.25 Must be atmost Rs. 1 crore
Development Credit Bank (DCB) 540 days 10 10.5 Must be atmost Rs. 1 crore
Karur Vysya Bank (KVB) 1 year-2 years 10 10.5
Ratnakar Bank 1 year-2 years 10 10.5 Must be atmost Rs. 1 crore
Dhanalakshmi Bank (Dhanalaxmi Bank) 500 days 9.75 10.25 Must be atmost Rs. 15 lakhs
Federal Bank 1 year 9.75 10.25 Must be atmost Rs. 1 crore
Karnataka Bank 1 year-2 years 9.75 10.25 Must be atmost Rs. 5 crores
Oriental Bank Of Commerce (OBC) 1 year-2 years 9.75 10.25 Must be atmost Rs. 1 crore
Punjab and Sind Bank (PSB) 500 days 9.75 10.25 Must be atmost Rs. 1 crore
South Indian Bank (SIB) 1 year-2 years 9.75 10.25 Must be atmost Rs. 1 crore
State Bank Of Patiala (SBP) 555 days 9.75 10.25 Must be atmost Rs. 1 crore
Corporation Bank (CorpBank) 1 year 9.65 10.1 Must be atmost Rs. 15 lakhs
Dena Bank 1 year 9.6 10.1 Must be atmost Rs. 1 crore
YES Bank 465 days-480 days 9.6 10.1 Must be atmost Rs. 15 lakhs
Allahabad Bank 1 year-2 years 9.5 10 Must be atmost Rs. 1 crore
IDBI Bank 500 days 9.5 10 Must be atmost Rs. 1 crore
Indian Overseas Bank (IOB) 1 year-2 years 9.5 10 Must be atmost Rs. 1 crore
IndusInd Bank 400 days 9.5 10 Must be atmost Rs. 1 crore
ING Vysya Bank 367 days-500 days 9.5 10 Must be atmost Rs. 1 crore
Kotak Mahindra Bank 701 days-2 years 9.5 10 Must be atmost Rs. 15 lakhs
Nainital Bank 1 year-2 years 9.5 10 Must be atmost Rs. 15 lakhs
State Bank Of Bikaner and Jaipur (SBBJ) 1 year-3 years 9.5 10 Must be atmost Rs. 50 lakhs
State Bank Of Hyderabad (SBH) 500 days 9.5 10 Must be atmost Rs. 1 crore
State Bank Of Mysore (SBM) 1 year-2 years 9.5 10 Must be atmost Rs. 1 crore
State Bank Of Travancore (SBT) 500 days 9.5 10 Must be atmost Rs. 15 lakhs
UCO Bank 1 year-2 years 9.5 10 Must be atmost Rs. 5 crores

Banks Paying High Fixed Deposit Rates as of December 2010

Banks Paying High Fixed Deposit Rates as of December 2010

Bank Name Period of Investment Normal Senior Citizen
Allahabad Bank 2 years-3 years 7 7.5
Andhra Bank 3 years 8.6 9.1
Bank Of Baroda (BOB) 445 days-3 years 8.25 8.75
Bank Of India (BOI) 2 years-3 years 8.25 8.75
Bank Of Maharashtra (BOM) 366 days-3 years 8.3 8.8
Canara Bank 1000 days 8.6 9.1
Central Bank Of India 2 years-3 years 8.25 8.75
Corporation Bank (CorpBank) 2 years-3 years 8.1 8.35
Dena Bank 2 years-3 years 8.25 8.75
IDBI Bank 2 years-1099 days 8.25 8.75
Indian Bank (IB) 1 year-5 years 8.5 9
Indian Overseas Bank (IOB) 1000 days 8.5 9
Oriental Bank Of Commerce (OBC) 1000 days 8.75 9.25
Punjab and Sind Bank (PSB) 1000 days 9 9.5
Punjab National Bank (PNB) 1000 days 8.5 9
State Bank Of Bikaner and Jaipur (SBBJ) 1001 days-3 years 8.3 8.8
State Bank Of Hyderabad (SBH) 1000 days 8.75 9.25
State Bank Of India (SBI) 1000 days 8.5 9
State Bank Of Mysore (SBM) 909 days 8.55 9.05
State Bank Of Patiala (SBP) 999 days 8.75 9.25
State Bank Of Travancore (SBT) 1000 days 8.6 9.1
Syndicate Bank 2 years-3 years 8.25 8.75
UCO Bank 2 years-3 years 8.25 8.75
Union Bank Of India (UBI) 701 days-3 years 7.5 8
United Bank Of India (UBI) 2 years-3 years 8.25 9
Vijaya Bank 2 years-3 years 8.15 8.65

RBI Hikes Repo and Reverse Repo by 25 BPS

RBI hikes Repo and Reverse Repo rates by 25 bps to 6.25% and 5.25% respectively; bank provisioning for teaser loans to increase to 2%.However, RBI left the CRR unchanged at 6%.
For FY11, the GDP forecast has been kept unchanged at 8.5%. FY11 M3 growth has also been kept unchanged at 17%. RBI has kept FY11 WPI (Old Series) forecast unchanged at 6% and FY11 WPI (New Series) forecast at 5.5%.

SBI Bonds – SBI Retail Bonds pay 9.5 Per Cent

State bank of India to launch retail bond in the month of October 2010 .They are planning to have two type of issue in this Retail Bond they are offering.
Issue Details

PUBLIC ISSUE BY THE STATE BANK OF INDIA (―BANK‖ OR ―ISSUER‖) OF SERIES 1 LOWER TIER II BONDS OF FACE VALUE OF RS. 10,000 EACH AND SERIES 2 LOWER TIER II BONDS OF FACE VALUE OF RS. 10,000 EACH TOGETHER REFERRED TO AS THE ―BONDS‖) AGGREGATING TO RS. 5,000 MILLION, WITH AN OPTION TO RETAIN OVER-SUBSCRIPTION UPTO RS. 5,000 MILLION FOR ISSUANCE OF ADDITIONAL BONDS AGGREGATING TO A TOTAL OF UPTO RS. 10,000 MILLION (THE ―ISSUE‖)

SBI is selling bonds worth Rs 500 crore to retail and institutional investors with an option to retain oversubscription for another Rs 500 crore. The Rs 1,000 crore proposed to be raised will be part of the bank’s lower Tier-II bonds, which will help it enhance its capital adequacy ratio (CAR).
Issue Detail Info

Type Series 1 > It will have a maturity of 10 years with a coupon of 9.25% paid annually. It will also have a call option after five years and one day with 0.5% additional step-up after five years, in case the call option is not exercised by SBI.
Type Series 2 > which will have a maturity of 15 years, it will provide a coupon of 9.5% annually.It will have a call option after 10 years and one day with 0.5% additional step-up after 10 years if the call option is not exercised. This means that in case the call option is not exercised by SBI, the coupon on bonds shall be increased by 0.50% for the balance tenor of the bonds.
>Minimum investment is Rs 10,000 in the Bond.

Read more about this Bond here.
The issue will be opening from October 18 to October 25, 2010, with an option to close earlier and /or to extend up to a period as may be determined by ECCB. There will not be any TDS since the bonds are listed on NSE and will be compulsorily issued in dematerialised form, so investors without demat a/c will not be eligible.

Infrastructure Bond – India Infrastructure Bond

After 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.

Bank Paying Highest Interest for Fixed Deposit as of July 26th 2009

Almost a year back in august 2008 i had the same type , the highest interest paid at that time was like 10.25 for Normal citizen and 10.75 for Senior Citizen , now almost after 1 year the the highest interest paid is 8.5 and 8.75 for Normal and Senior Citizen.I have listed both together Normal rate and what is Senior citizen interest rate , I have taken Interest as the criteria and went by banks and searched for which gave the highest interest in the possible minimum lock in period of money.

Institution Duration Rate Senior Citizen
Rate
Diff
DBS Bank 1 year – 2 years 8.5 8.5 0
YES Bank 541 days – 2 years 8.25 8.75 0.5
Development Credit Bank 1 year 8 8.5 0.5
Dhanalakshmi Bank 1 year – 3 years 8 8.75 0.75
IndusInd Bank 400 days 8 8.5 0.5
Bank Of Rajasthan 1 year – 2 years 7.75 8.25 0.5
Catholic Syrian Bank 1 year – 3 years 7.75 8.25 0.5
City Union Bank 1 year – 2 years 7.75 8.25 0.5
Karur Vysya Bank 1 year – 2 years 7.75 8.75 1
South Indian Bank 1 year – 2 years 7.75 8.25 0.5
Federal Bank 1 year – 2 years 7.5 8 0.5
Jammu & Kashmir Bank 1 year – 3 years 7.5 8 0.5
Karnataka Bank 1 year – 3 years 7.5 8.25 0.75
Lakshmi Vilas Bank 1 year – 2 years 7.5 8.25 0.75
Punjab And Sind Bank 1 year – 2 years 7.5 8 0.5
Tamilnad Mercantile Bank 1 year – 3 years 7.5 7.75 0.25
Syndicate Bank 500 days 7.3 8.05 0.75
Allahabad Bank 1 year – 2 years 7.25 7.75 0.5
Andhra Bank 1 year – 2 years 7.25 7.75 0.5
Bank Of Maharashtra 1 year 7.25 7.75 0.5
Citibank 1 year – 400 days 7.25 7.75 0.5
Corporation Bank 1 year – 2 years 7.25 7.75 0.5
Dena Bank 1 year – 699 days 7.25 7.75 0.5
ICICI Bank 390 days 7.25 7.75 0.5
IDBI Bank 1 year – 2 years 7.25 7.75 0.5
Indian Bank 1 year – 2 years 7.25 7.75 0.5
Indian Overseas Bank 1 year – 2 years 7.25 8 0.75
Nainital Bank 1 year – 2 years 7.25 7.75 0.5
State Bank Of Bikaner
and Jaipur
1 year – 2 years 7.25 7.75 0.5
State Bank Of Hyderabad 1 year – 2 years 7.25 7.75 0.5
State Bank Of Indore 1 year – 3 years 7.25 7.75 0.5
State Bank Of Patiala 1 year – 2 years 7.25 7.75 0.5
United Bank Of India 1 year – 2 years 7.25 7.75 0.5
Vijaya Bank 1 year – 2 years 7.25 7.75 0.5
Axis Bank 1 year – 2 years 7.05 7.8 0.75
Bank Of Baroda 1 year – 2 years 7 7.5 0.5
Canara Bank 1 year – 2 years 7 7.5 0.5
Central Bank Of India 1 year – 554 days 7 7.5 0.5
HDFC Bank 380 days 7 7.5 0.5
ING Vysya Bank 1 year 7 7.5 0.5
SBI Commercial
and International Bank
1 year – 2 years 7 7.5 0.5
Standard Chartered Bank 720 days 7 7 0
State Bank Of Mysore 1 year – 2 years 7 7.5 0.5
State Bank Of Travancore 1 year – 2 years 7 7.5 0.5
UCO Bank 1 year – 3 years 7 7.5 0.5
Union Bank Of India 1 year – 999 days 7 7.5 0.5
Bank Of India 1 year – 2 years 6.75 7.25 0.5
ABN AMRO Bank 1 year – 2 years 6.5 6.75 0.25
Kotak Mahindra Bank 390 days 6.5 7 0.5
Oriental Bank Of Commerce 270 days – 1 year 6.5 7.5 1
Punjab National Bank 1 year – 2 years 6.5 7 0.5
State Bank Of India 1 year – 2 years 6.5 7 0.5
HSBC 366 days 6.25 6.5 0.25
Barclays Bank 401 days – 540 days 5.5 5.5 0
Deutsche Bank 1 year – 540 days 4.5 4.5 0

TATA Capital NCD -Tata Capital NCD to offer 12 percent interest

Tata 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.

Reserve Bank of India Cuts CRR Rate , Repo Rate and Reserve Repo Rate

In 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.

SBI reduces Home loan rate

State 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.

Home loan interest might get cheaper – Banks agree to cut Prime Lending Rate

PSU 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 .

Which Bank is paying the Highest Fixed Deposit Interest

Based 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.