The Latest Breaking News from Adhil Shetty

How you can use FD laddering for Rs 10 lakh investment after RBI raises repo rate

The Reserve Bank of India has raised the repo rate, which positively impacts fixed deposit interest rates. Investors should explore the FD laddering strategy for various tenures, allowing them to reinvest at higher rates as shorter deposits mature. Moreover, diversifying across different banks can boost insurance coverage. It's essential for…

The Economic Times · 19h ago

Higher EMIs ahead: PNB, Bank of India, Bank of Baroda and Indian Bank raise lending rates; check details

The Reserve Bank of India increased the repo rate by 25 basis points during its monetary policy meeting. This hike prompted banks like Punjab National Bank and Bank of Baroda to adjust their lending rates.

The Economic Times · Oct 8

Lowest home loan interest rates after RBI repo rate hike: Check EMI on above Rs 30 lakh to 75 lakh loans at public & private banks, HFCs

In a recent move, the Reserve Bank of India has lifted the repo rate to 5.50% from 5.25%, impacting the landscape of home loan interest rates. Public sector players such as Bank of Maharashtra and Central Bank of India are providing attractive rates near 7.00%. Meanwhile, the South Indian Bank…

The Economic Times · Oct 7

Should you have multiple bank accounts? Here’s how many you really need

Should you keep all your money in one bank account or spread it out? While multiple accounts can aid in budgeting and offer deposit insurance benefits, they can also complicate finances. Discover the ideal number of accounts for your needs and when opening another truly makes sense.

The Economic Times · Sep 10

Can an NRI be a nominee for PPF, NSC or SCSS? Here’s what happens to the money after the account holder dies

NRIs can now be nominees for India's small-savings schemes like PPF and NSC, a change from 2023. While they can receive proceeds, repatriation abroad is restricted and subject to FEMA and banking rules, typically requiring crediting to an NRO account first. Understand the nuances before naming an NRI nominee.

The Economic Times · Sep 3

Hidden risks of FCNR (B) deposit investment and leverage: Why high interest rates may not tell the full story

FCNR(B) deposits have become attractive to investors looking for significant returns in US dollars, largely thanks to government hedging strategies. However, experts warn that investors must be aware of currency and liquidity risks. While leverage can enhance profits, it can also lead to considerable financial losses. Additionally, taxation can bite…

The Economic Times · Aug 13

Income tax for senior citizens: No salary after retirement? These 7 incomes can still attract tax; know what is exempt

Retirement is not synonymous with tax freedom. Your pensions, interest income, rental earnings, and capital gains may still incur taxes. It's crucial to identify which income streams are subject to taxation and which advantages remain untaxed to prevent errors and manage your finances wisely. Learn strategies to legally minimize your…

The Economic Times · Aug 13

Defaulted on your loan? Here's what banks can legally do and what they can't

Missing a single loan EMI doesn't lead to immediate bank intervention; instead, lenders often issue reminder calls and formal notices first. For secured loans, repossession of assets follows legal procedure, while unsecured loans depend on collection efforts. Recovery agents must uphold borrower dignity, refraining from harassment. Engaging proactively with lenders…

The Economic Times · Aug 13

19x leverage on FCNR(B) deposits and high returns may not work for NRIs based in Singapore in this case

FCNR (B) FD: For NRIs, the potential gains from FCNR(B) deposits may be undermined by Singapore's tax policies. Interest earnings from Indian banks are recognized as originating from Singapore, triggering local taxes that can diminish effective yields on these deposits. Conversely, payments made to Indian banks' Singapore branches do not…

The Economic Times · Aug 6

RBI policy: Will high-interest rate cycle return for FD investors as RBI holds repo rate amid rising inflation?

RBI MPC repo rate: The Reserve Bank of India maintained its repo rate at 5.25 percent today. Inflation is nearing the upper tolerance band, which could prompt future rate hikes. Banks monitor deposit-credit ratios and government security yields for rate decisions. High interest rates on small savings schemes also influence…

The Economic Times · Aug 5