On Monday Indian Overseas Bank (IOB) has revised its deposits interest rate. The revised rates will be effective from March 15. As per revised rates for deposits of less than Rs 1 crore for tenure of 270 days and less than one year, the rate has been fixed at 6%, while for one year to less than five years at 6.75% and five years and above at 7.25%.
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IOB hiked deposit rates, Central Bank reduces rates of loan for doctors, revise deposit rates
Posted by Tushar Mathur on March 18th, 2010
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Best Banks in India – Career Wise
Posted by Tushar Mathur on March 13th, 2010
Indian Banking Sector
In India Banking is still in the developing stage. A big part of it is under the control of the states. India’s largest bank, The State Bank of India, is very small compared to the globally large Citibank. According to The Banker magazine, SBI is only one tenth of Citibank, which is a sister concern of Citigroup in the USA. The next biggest bank in India is ICICI, which is only half the size of that.
MFs dig infra for big bucks
Posted by Tushar Mathur on February 27th, 2010
The mutual fund industry didn’t get anything from the finance minister, but that has not stopped them from exploring how they could work out some of the other proposals in direct taxes to their advantage .
Slowly banks are raising fixed deposit rates
Posted by Tushar Mathur on February 26th, 2010
In the coming months fixed deposit can again be a good investment option as the deposit rates are on their way up.
Use FD overdraft to pay for big purchase deals
Posted by Tushar Mathur on February 19th, 2010
To make payment of big purchase deals go for overdraft facility rather than taking personal loan or swiping a credit card. In case of personal loan or credit card you have to pay high interest.
