Tag - fixed deposit

Fixed deposit interest rates hiked but debt mutual funds still better

Fixed deposit interest rates hiked but debt mutual funds still better

Interest rates are on the rise. SBI and HDFC Bank have hiked interest rates for fixed deposits below Rs 1 crore. HDFC Bank is offering 7% for deposits below Rs 1 crore for tenures from 1 year to 5 years. The biggest beneficiaries will be senior citizens. Besides the 0.5% higher interest, this year’s budget has also exempted interest income of up to Rs 50,000. General investors, however, may not gain so much. Income from fixed deposits is fully taxable. In [...]

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