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Some banks revise fixed deposit interest rates in May 2024, offering rates up to 9.1% Full Article Link >>> https://lnkd.in/g5n6Ghmc Latest FD interest rates: In May 2024, several banks revised their fixed deposit (FD) interest rates, providing opportunities for investors to earn higher returns. The banks that revised their rates include Utkarsh Small Finance Bank (SFB), City Union Bank, RBL Bank, and Capital Small Finance Bank. As per an ET report, here’s all you need […] . . Latest IND . . . . #trendingnews #newstrending #trendingtopicnews #lifestyle #business #news #healthylifestyle #smallbusiness #supportsmallbusiness #lifestyleblogger #luxurylifestyle #businessowner #businesswoman #smallbusinessowner #businessnews

Certainly! When it comes to tax-saving fixed deposits (FDs), it’s essential to compare interest rates offered by different banks. Here are the top 5 tax-saving bank FDs based on data compiled by ET Intelligence Group: DCB Bank: Offers an interest rate of 7.4% for a 5-year tax-saving FD. If you invest ₹10,000, it will grow to ₹14,428 Dhanlaxmi Bank: Provides an interest rate of 7.25%, resulting in a growth of ₹14,323 for the same investment amount. IndusInd Bank: Also offers an interest rate of 7.25%, with the same growth potential. YES Bank: Maintains an interest rate of 7.25%, leading to a similar growth of ₹14,323. City Union Bank: Provides an interest rate of 7.1%, resulting in a growth of ₹14,217. Remember that tax-saving FDs have a mandatory lock-in period of five years, and the interest earned is subject to tax deducted at source (TDS) based on your tax bracket. Senior citizens can claim an annual interest deduction of up to ₹50,000 under Section 80TTB. If you’re considering investing, keep an eye on interest rate trends, as they may change based on RBI decisions.

How Do Banks Really Make Money? 💰 While most people think of banks simply as a place to store their money and take out loans, the reality is that banks employ a variety of strategies to generate profits. At their core, banks are in the business of borrowing money at lower interest rates and lending it out at higher rates—a process known as the "spread." 💸 1. The Bread and Butter: Net Interest Income 🍞 • One of the primary ways banks make money is through net interest income, which is the difference between the interest earned on loans and investments versus the interest paid to depositors and other creditors. • Banks attract deposits by offering interest rates that are relatively low, while charging higher rates on loans to individuals and businesses. 2. Fee Income: Service Charges and Commissions 💳 • In addition to interest income, banks generate substantial revenue from fees charged for various services, including: - Account maintenance fees - Overdraft fees - ATM fees - Credit card fees - Wire transfer fees - Investment management fees • These non-interest income sources have become increasingly important for banks in recent years. 3. Other Revenue Streams ⚡ • Banks can also profit through trading activities, such as buying and selling securities, currencies, and other financial instruments. • Additionally, many large banks have diversified into areas like: - Investment banking - Wealth management - Insurance • Providing an array of fee-based services to clients. 4. The Role of Leverage and Fractional Reserve Banking ⚖️ • What really amplifies bank's profits is their ability to practice fractional reserve banking, which allows them to lend out a multiple of the deposits they hold in reserve. • This leverage enables banks to generate significantly more interest income than they pay out to depositors. 📈 While the mechanics of banking may seem complex, the core principle is relatively simple: banks make money by taking advantage of the spread between the low rates they pay on deposits and the higher rates they charge on loans, while also collecting fees for various services. Understanding these revenue streams is crucial for anyone seeking to grasp the banking industry's fundamental business model. 🤑 #banking #finanicalServices #bankrevenue #leverage #financialLiteracy101 Follow Tushar Kore for more🚀

Fixed deposits continue to be a popular investment choice for Indians looking for a safe and predictable return on their savings. But which banks or financial institutes offer the best FD rates? Here's a list #fixeddeposits #bank #fdrates #interestrates #smallfinancebank #nbfc https://mybs.in/2dVkugY

Jana Small Finance Bank launched the banking industry's first FD short term tenures ranging between 7 days and 180 Days with instant liquidity, no exit load, instant overdraft Facilities and availability of partial withdrawal. (The story has the interest rate and other finer details, read to know more) Question is who should invest in such a FD? Jana Small Finance Bank designed this FD to cater to the needs of individuals, high-net-worth individuals (HNIs) and corporates seeking short term investments options with safety, liquidity and assured returns. As per Ajay Kanwal, "Our aim is to serve a new segment of customers who will look at short term Bank deposits meeting their needs of managing surplus money.” Suresh Sadagopan advises that "If one has idle funds to deploy for a certain duration, it makes sense to deploy in a short-term deposit like this." However Suresh Sadagopan also advises that investors of this FD should also be cognisant of the credit rating of the deposits of the bank while investing as lower credit rating would signify higher risk. "Also please note the following -withdrawals can be done only by visiting the branch, not from mobile or through Internet banking and the value of FD, even after partial withdrawals should be Rs 10 Lakh or more." #banking #fd #fixeddeposit #investment Ladder7 Wealth Planners https://lnkd.in/gMnFe2cf

Savings Account Types As interest rates have gone up, some banks have passed the rate increases along to clients in the form of higher interest rates on savings accounts. Others, however, have “banked” on the fact that changing banks is so cumbersome that they can continue to offer little to no interest, and you will not change banks. We suggest looking at the rate on savings accounts at your bank. Currently, some banks offer interest rates north of 4% on savings accounts. We typically do not suggest changing your entire banking relationship. We do, however, suggest reevaluating your savings relationship. It might make sense to move your savings accounts to another bank offering higher interest rates, while keeping your checking account at your current bank.

Understanding How Banks Operate Analyzing bank performance is not straightforward and is a bit complex as it is different from non-financial firms. To master financial analysis and modeling for banks, it's wise to break down banking to its core principles. I call this first principles thinking. Let's quickly dive into the core principles of the business of banking. Shall we? Banks don't sell physical goods and services, they make money with money. The traditional banking business model is that banks accept deposits and advance loans to individuals, businesses, and large corporations. Simply put, banks receive money from customers (deposits), pay out a certain interest on that money (usually very low), take a portion of that money, and advance it to customers as loans at a higher interest rate. So, banks make money on the interest rate spread (interest rate on loans - interest paid out on deposits). Loans and advances are the primary or largest asset for banks. Obviously, that can be seen in banks that operate in functional economies. Loans are interest-bearing assets that generate interest income for the bank. When a bank gives you a loan, you are expected to pay back the loan plus interest. On the other hand, we have deposits - a liability for the bank. When you deposit money in your bank account you become sort of a lender to the bank and the bank has an obligation to pay you back your money on demand or when you need it. So, the bank owes you your money as soon as you deposit it with them. Deposits are an interest-bearing liability to the bank. In functional economies, banks pay you a certain interest rate on your deposits. Banks also use a certain percentage of the deposits for the purposes of credit creation. Make sense? Follow Fundme Capital #banks #microfinance #corporatefinance #financialanalyst

Despite recording impressive annual results, banks are facing significant margin pressure and deposit challenges. This insightful Mint article sheds light on these challenges within the banking sector. A thought-provoking read for anyone invested in the financial landscape. #Banking #Finance #MarketTrends #EconomicInsights https://www.read.ht/SayS

IN THE third quarter of 2024, Sun Savings Bank achieved remarkable growth in its deposit base, with deposit liabilities increasing by 16.6 percent year-on-year, reaching P2.36 billion in September 2024 from P2.06 billion in September 2023. This significantly exceeded the year-on-year growth rate of the thrift banking industry’s deposit liabilities which was only six percent as of the third quarter of 2024.

INSTA: Instabank ASA Reports profits of 35.2 MNOK and significant growth in key segments: ... challenger bank, achieved a profit before tax of 35.2. MNOK in Q3-2024 and successfully accelerated growth in its most profitable segments ...