Photo: The Economic Times
Bank Of Baroda Increased Fixed Deposit Interest Rates
The interest rates on Bank of Baroda's fixed deposits (FDs) up to Rs 2 crore have increased. After the adjustment, the general public's FD interest rate may increase to 7.25 percent. Seniors who deposit money with the Bank of Baroda might earn up to 7.75 percent on their fixed deposits. The new rates are coming into effect today, May 12, 2023, confirmed sources.
Tags: BANK OF BARODA, interest rate, Fixed Deposits, Indian Banks, business
Courtesy: Zee News India
Photo: Financial Express
Interest For Lenders To Increase From April 10, Says Indian Overseas Bank
In a major development, the Public sector lender Indian Overseas Bank has decided to revise the interest rate. As per sources, the bank in a statement said, they will revise the interest rates on term deposits by upto 40 basis points from April 10. With this, depositors will receive interest rates upto 8% by opening term deposit for a period of 444 days, confirmed the bank.
Tags: Bank, Lender, interest rate, Overseas Bank, Indian Business
Courtesy: The Press Trust of India
Photo: Facebook
SEBI Hikes Interest Rates, EMIs, Loans To Be Expensive
The country's largest public sector lender, the State Bank of India (SEBI) has increased the repo & reverse repo rate, making loans expensive for customers. The loan rate with a hike of 50 basis point, after the announcement of the RBI's new repo rate by 0.5% to take it to 5.90%, which came into effect from October 1, making EMIs to get costlier across all loan categories, including home loans.
Tags: SEBI, business, Expensive Loan, RBI, interest rate
Courtesy: NDTV
Photo: DNA India
Govt To Give 8.5% Interest Rate On EPF For FY21: Reports
Making a good announcement ahead of Diwali, the government has decided to keep the interest rate unchanged on employees' provident fund at 8.5% for the financial year 2020-21, said media reports on October 29. Reportedly, the rate will benefit over five crore users of the Employees Provident Fund Organisation (EPFO). Earlier in 2019-20, the rate was reduced to 8.5% from 8.65% for 2018-19.
Tags: EPF, EPFO, Diwali, interest rate, Provident Fund
Courtesy: Press Trust Of India
Photo: The Economic Times
RBI Maintains Status Quo On Repo Rate At 4%
For the seventh consecutive time, the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has kept the benchmark interest rate unchanged at 4%. Reportedly, the "accommodative stance is maintained as the economy is still recovering from the COVID-19 second wave". This move supports growth and keeps inflation in check. Accordingly, the reverse repo rate will remain at 3.35% and annual inflation at 4%.
Tags: RBI, SHAKTIKANTA DAS, monetary policy committee, interest rate, Economy
Courtesy: Press Trust Of India
