February 26th, 2010 
Tushar Mathur In the coming months fixed deposit can again be a good investment option as the deposit rates are on their way up. But the things will get better in fiscal 2010-11.
Last week HDFC Bank had raised its deposit rates by 25-150 basis points (one basis point equals one-hundredth of 1%) across various terms.
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Tags: Bank Deposit Rates, Bank Liquidity, Bank Of India, Basis Point, Basis Points, Credit Suisse, Deepak, Fixed Deposit Rates, Gupta, Icici Bank, Investment Option, Loan Growth, Mallya, Maturities, Public Sector Union, SBI, State Bank, State Bank Of India, Union Bank, Union Bank Of India 
Comments Off February 19th, 2010 Tushar Mathur 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.
Posted in business, india, News, NRI Banking, NRI Investing, Personal Finance Tags: Bank Of Commerce, Bank Of India, Banks Range, Financial Planner, Fixed Deposit Rates, Fixed Deposits, High Interest, Installments, Javeri, Leverage Funds, Minimum Interest, Oriental Bank Of Commerce, Overdraft Facility, Personal Loan, Personal Loans, Purchase Deals, Repayments, United Bank, United Bank Of India, Unsecured Loan Comments Off February 19th, 2010 Tushar Mathur IDBI Bank has increased its deposit rates by 25 basis points (bps) and has also added a new slab of 500 days offering 7 per cent rate.
Before IDBI bank, Union Bank of India, ICICI Bank and Jammu & Kashmir Bank (J&K Bank), have raised their deposit rates.
Posted in business, india, News, NRI Banking, NRI Investing, Personal Finance Tags: Bank Of India, Basis Points, Bps, Buckets, Cash Reserve Ratio, Crr, Icici Bank, Idbi Bank, Jammu, Kashmir, Market Borrowings, Maturities, Maximum Rate, Slab, Slabs, Source Of Funds, Stable Source, Term Deposits, Union Bank, Union Bank Of India Comments Off February 14th, 2010 Malvika In today’s life it is better to be safe before anything happens in your life. Anything can happen that you never expected. So as far as credit card is concerned, it provides an efficient and effective way to keep the track record of all expenses that generally incur when you go abroad.
Posted in NRI Banking Tags: Account Balance, Cancel, Cancellation, Card Account Number, Close Friends, Colleagues, Credit Card Account, Credit Card Transactions, Credit Cards, Exact Account, Financial Losses, Headache, Measures, Miracle, Nearby Police Station, Telephone Number, Time Don Comments Off February 9th, 2010 Tushar Mathur On the banks website under deposit schemes you must have come across flexi bank account or must have heard some where, but what exactly flexi bank account is?
Banks have introduced a new banking account- flexi bank account under this they offer higher interest of a fixed deposit and the liquidity of a savings account.
Posted in business, india, News, NRI Banking, NRI Investing, Personal Finance Tags: Bank Accounts, Banking Account, banks, Benefit, Cash Requirements, Cheque, Deposit Account, Deposit Schemes, Fixed Deposit, Liquidity, Rs 1, Rs 50, savings account, Savings Accounts, Sweep Account, Term Deposit, Zero Balance Comments Off February 9th, 2010 Tushar Mathur Whether a person is employed or approaching the retirement age, everyone searches for investment avenues which are safe and can offer regular income. Although one can find various schemes of investment but security of money is most important factor.
Posted in business, india, News, NRI Banking, NRI Investing, Personal Finance Tags: Fixed Deposits, Fixed Income Instruments, Fixed Rate, Government Of India, Income Tax Act, Interest Income, Investment Avenues, Investment Option, Needs Of Senior Citizens, Nsc, Ppf, Rate Of Return, Retirement Age, Retirement Scheme, Rs 1, Savings Scheme, Scss, Senior Citizen, Shortfall, Tax Deducted At Source Comments Off February 7th, 2010 Malvika The best way to avoid the financial disaster or the jobless situation is to create your emergency fund. As the life is unpredictable and the events like this may strike anytime.
Posted in NRI Banking Tags: Cash Source, Cheque, Credit Card, Dire Straights, Emergency Fund, Emergency Funds, Financial Disaster, Fine Shape, Fixed Deposit, Flexibility, Incomes, Interest Rate, Liquid Cash, Liquidity, Living Expenses, Salary, Savings Accounts, Shopping Spree Comments Off February 4th, 2010 Tushar Mathur In the past few months term deposit rates have lost sheen as banks have reduced rates. Now people prefer to park their money in current account savings accounts (Casa) rather than investing their money in fixed deposits for longer duration.
Posted in business, india, News, NRI Banking, NRI Investing, Personal Finance Tags: Bank Of India, Banks Report, Current Account, December 31, Duration, Fixed Deposits, Hdfc Bank, Interest Rates, Investing Money, Private Sector Bank, Quarter Ended December, Rs 1, savings account, SBI, Sheen, State Bank, State Bank Of India, Term Deposit Rates, Term Deposits, Treasury Comments Off January 19th, 2010 Tushar Mathur Last year all the banks reduced their fixed deposit rates for almost every period. Currently, according to official inflation figure is above 7 per cent which is a bad news.
Posted in business, india, News, NRI Banking, NRI Investing, Personal Finance Tags: Bad News, Bse, Chief Executive Officer, Consumer Price Index, Cost Of Living, Current Rate, Eye Opener, Fds, Financial Planner, Fixed Deposit Rates, Fixed Deposits, Income Tax, Inflation Figure, Lows, Nominal Rate, Rate Of Return, Reliance Mutual Fund, Retail Prices, Sensex, Stock Index Comments Off January 6th, 2010 Tushar Mathur Fixed deposits (FDs) a traditional investment option has been a vital part of every investor’s portfolio, due to assured rate of return. However FDs have been plain vanilla products with no additional benefits attached to it.
Posted in business, india, News, NRI Banking, NRI Investing, Personal Finance Tags: Accident Insurance, banks, Clauses, Fd, Fds, Finance Companies, Fixed Deposits, HDFC, Interest Rate, Investment Option, Investor, Lakh, Maturity, Offering Insurance, Rate Of Interest, Rate Of Return, Tenure, Traditional Investment, Vanilla Products, Worth Rs Comments Off December 28th, 2009 Tushar Mathur In the recent times group of pubic sector banks has witnessed drop in their low-cost deposits, the drop is a 10-year low While individuals are preferring bulk deposits and more are depositing more money in fixed deposits, which offered higher interests a year ago.
Also, the opening of customer-savvy private sector banks is responsible for bringing down investments in low-cost deposits (savings and current account balances) at public sector banks.
This year public sector banks, savings and current account balances accounted to 31 per cent of their total deposits, which was 34 per cent in 1999 and was at peak of 38 per cent in 2066, as per the study conducted by Indian unit of London-based investment banking group, Noble.
But among the public sector banks there have been some of the exceptional banks like State Bank of India (SBI) and Bank of Baroda (BoB).
Posted in business, india, News, NRI Banking, NRI Investing, Personal Finance Tags: Bank Of Baroda, Bank Of India, Current Account Balances, Fixed Deposits, Hdfc Bank, Icici Bank, Investment Banking Group, Liquidity, Private Banks, Private Sector Banks, Public Sector Bank, Public Sector Banks, Retail Loans, Salary Accounts, SBI, State Bank, State Bank Of India, Term Deposits, Times Group, Wholesale Deposits Comments Off December 7th, 2009 Tushar Mathur The Reserve Bank of India (RBI) has told banks not to invest in mutual funds, mainly because the credit off take has still not improved, but they continue to give funds to asset management companies.
As per the latest RBI report, by fortnight ended November 20 the investments done by banks in MF schemes has increased from Rs 4,173 crore to Rs 1,64,656 crore.
Posted in business, india, News, NRI Banking, NRI Investing, Personal Finance Tags: Asset Management Companies, Bank Of India, Borrowings, Crore, Crr, Fortnight, Internal Targets, Investment Banks, Liquid Funds, Mf, Monetary Policy, Mutual Funds Investments, Poor Credit, Rbi Guidelines, Reserve Bank of India, Reverse Repo, Rs 1, Subbarao, Surplus Funds, Surpluses Comments Off November 23rd, 2009 Tushar Mathur Tata Motors, India’s biggest automobile company this year in August had launched revised fixed deposit scheme and company has raised Rs 264 crore through this scheme. Company has the permission to raise Rs 1,300 crore from the revised scheme
The rate at which the market has retorted to the revised fixed deposit scheme has narrowed considerably, especially in comparison to its previous deposit scheme, when the company had collected Rs 2,700 crore in nine months.
Previously the amount was raised on higher payment of interest rates, which the company has now revised to downwards by 325 basis points to 8.75 per cent for a period of three years.
From the earlier FD scheme the Tata Motors was able to raise an average of Rs 300 crore per month, when deposit schemes of other companies were struggling.
Posted in business, india, News, NRI Banking, NRI Investing, Personal Finance Tags: Annual General Meeting, Automobile Company, banks, Basis Points, Brand Name, Company Annual Report, Crore, Deposit Scheme, Favorable Response, Interest Rate, Interest Rates, Liquidity, Market Experts, Nine Months, Spokesperson, Tata Motors India Comments Off November 13th, 2009 Tushar Mathur Central Bank of India and IDBI Bank- two state-owned banks have slashed deposit rates by 0.25-0.5 per cent in various maturities in order to bring down the cost of funds.
Before country’s largest lender State Bank of India has reduced its deposit rates by a similar margin.
IDBI Bank revised rates will be effective from November 16 while the Central Bank has to yet announce the rate reduction officially.
After revision on one year to less than two years maturity deposits IDBI Bank offers a rate of 6.5 per cent as against 6.75 per cent, informed IDBI Bank sources.
On tenure 2 years to less than 1,100 days deposits, bank will offer rate of 7 per cent (7.25 per cent) while that of 1,100 days maturity deposits will now attract a rate of 7.25 per cent (7.5 per cent) earlier.
Moreover on 1,100-days to 5 years, 5-years to 7-years and 7-years to 10-years deposits bank will offer 7 per cent (7.25 per cent), 7.5 per cent (7.75 per cent) and 7.75 per cent (8 per cent) earlier, the bank said.
The bank said senior citizens will get 0.5 per cent above the card rate.
Posted in business, india, News, NRI Banking, NRI Investing, Personal Finance Tags: 10 Years, Bank Of India, Bank Owned, banks, Central Bank Of India, Idbi Bank, Maturities, Maturity, Senior Citizens, State Bank, State Bank Of India, Tenure Comments Off November 11th, 2009 Tushar Mathur Although top bankers are calling out for the need to increase low cost current and savings account (CASA) deposits, on the other hand they have asked their branches to speed up the process acquire long-term resources under recurring deposit (RD) schemes.
It is not difficult to find out the reason why banks are moving their focus on RDs.
Posted in business, india, News, NRI Banking, NRI Investing, Personal Finance Tags: Asset Liability, Bank Of India, Central Bank Of India, Depositor, India Bank, Infrastructure Projects, Installments, Long Term Resources, Lump Sum, Rds, Resource Base, Rs 1, Rs 50, S Education, savings account, Systematic Investment, Tax Deduction, Term Deposit Rates, Union Bank, Union Bank Of India Comments Off
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