Tenor Financial News

FD interest rates. However, you should keep in mind that issuers offer two interest calculations: simple and compound. Opting for the latter can work wonders for your long-term savings.

Several bank fixed deposit schemes are now offering higher than SCSS interest rate to senior citizens. For the July-September quarter of FY 2023-24, the Government has kept the SCSS interest rate at 8.2%. Following is a list of banks offering higher than SCSS interest rate on their fixed deposits to senior citizens in September, according to BankBazaar data.

Even as Fixed Deposit interest rates for various tenors have gone up this year, post-tax returns for many depositors are still below the expected inflation number for FY 2023-24, a calculation done by FundsIndia in its monthly Wealth Conversations Report (September 2023) shows.

₹5,923 per gram."The nominal value of the bond based on the simple average of closing price (for gold of 999 purity)... works out to ₹5,923 per gram of gold," the central bank said, while announcing the issue price of Sovereign Gold Bond Scheme 2023-24 Series II (second tranche). The RBI has announced ₹50 per 10 gm discount for investors applying online and making the payment against the application through digital mode.

While the domestic price of 24 carat Gold across cities today is around Rs 6000, those interested in investing in gold in the current festival season have an opportunity to do that at a discount from today through Sovereign Gold Bonds (SGBs).

home loan will depend on the RBI's decision. So at least borrowers can make sure they are obtaining the best available terms on their loans. After a series of increases that began in May 2022 and continued until February of this year, the most recent status quo by RBI marks the third consecutive repo rate pause. Home loan interest rates for individuals vary depending on the various factor including CIBIL Score, salary, employment, tenor, etc,. You must compare your home loan interest rate with those of other lenders; if you discover that they are providing a new borrower with a considerably cheaper interest rate, you may transfer your loan after determining the net benefit. Here is a full list of home loan interest rates of banks as on September 7, 2023.Top banks home loan processing feeHDFC Bank can charge up to 0.50% of the loan amount or Rs 3,000 whichever is higher, plus applicable taxes.

Sovereign gold bond 2023: The second tranche of the sovereign gold bond 2023 has opened today and it will remain open for subscribers till 15th September 2023. This means interested investor can apply for sovereign gold bond scheme till Friday this week. The Reserve Bank of India (RBI) on Friday declared sovereign gold bond price at ₹5,923 per gm.

Sovereign gold bond: The Reserve Bank of India (RBI) declared Sovereign gold bond September 2023 price on Friday at ₹5,923 per gram. The next tranche of the scheme is opening for subscribers on 11th September 2023 i.e. on Monday next week.

India (RBI) on Friday said the issue price for the next tranche of Sovereign Gold Bond has been fixed at Rs 5,923 per gram and will open for subscription from September 11. «The nominal value of the bond based on the simple average of closing price (for gold of 999 purity)… works out to Rs 5,923 per gram of gold,» it said, while announcing the issue price of Sovereign Gold Bond Scheme 2023-24 Series II (second tranche). The government, in consultation with the RBI, has decided to offer a discount of Rs 50 per gram less than the nominal value to investors applying online and making the payment against the application through digital mode. For such investors, the issue price of gold bond will be Rs 5,873 per gram, it said. The issue will be open from September 11-15, according to the statement. The bonds will be sold through banks, Stock Holding Corporation of India Ltd (SHCIL), designated post offices, and recognised stock exchanges — the NSE and the BSE. The scheme was launched in November 2015 to reduce the demand for physical gold and shift a part of domestic savings — used for the purchase of gold — into financial savings. The price of the bond is fixed in Indian rupees on the basis of simple average closing price of gold of 999 purity, published by the India Bullion and Jewellers' Association Ltd for the last 3 working days of the week preceding the subscription period. The bonds are denominated in multiples of gram(s) of gold with a basic unit of 1 gram.

New Delhi: State-owned REC Ltd is looking at expanding its loan portfolio for green projects to ₹3 trillion by 2030, said its chairman and managing director Vivek Kumar Dewangan. Addressing the 54th annual general meeting (AGM) of the company, the CMD said that going forward REC would be known for its renewable energy initiatives across solar, wind, hybrid, and e-mobility projects, along with newer spaces like green hydrogen, green ammonia projects, round-the-clock projects and ethanol manufacturing.

European stocks fell amid weak German data and elevated oil prices that reignited concerns over inflation.

Vedanta Resources in talks with Standard Chartered Bank for $1.3 billion loan Vedanta Resources (VRL) is in discussions with Standard Chartered Bank for a loan of $1.2 billion to $1.3 billion against brand fee receivables without any restructuring pre-conditions. The loan deal, if sealed, will take care of debt repayments until January without the need to restructure the bonds. The discussions regarding lending rates are currently in progress and the loan could be priced around 14-15% with a duration of three years. The company has appointed advisory firm Morrow Sodali to identify the holders of its $1 billion 13.875% bonds and $1 billion 6.125% bonds due in 2024 and the $1.2 billion 8.95% bonds due in 2025, as reported earlier.

1. Choose your lenderThere is no dearth of lenders in the market to choose from. However, not every lender will be willing to offer you the best loan deal.

Punjab National Bank (PNB) have hiked their marginal cost-based lending rates (MCLR), even though the Reserve Bank of India (RBI) retained the policy rate on August 10. The move will make EMIs linked to MCLR expensive. The one-year tenor MCLR is the rate against which most consumer loans are tied.

RBI) liberalisation of borrowing for Infrastructure Debt Funds is unlikely to infuse much life into the industry unless the central bank allows the funds to borrow cash for the short term and not expressly tie borrowings with the asset profiles financed by the debt. The industry neither wants the RBI to enforce curbs on borrowing maturity profiles, nor regulate asset-liability management. Last month, the RBI relaxed IDF norms by allowing them access to funds through the issue of rupee or dollar-denominated bonds of a minimum five-year maturity. While IDF-NBFCs can now raise funds through the loan route under external commercial borrowings (ECBs) with a requirement for a minimum tenor of five years, these loans cannot be sourced from foreign branches of Indian banks, fund managers are not enthused. The industry wants RBI to not impose controls on IDF maturity or regulate asset and liability management (ALM) for them.

Rajeev Radhakrishnan, Head-Fixed Income, SBI Mutual Fund, says “the bigger comfort from a fixed income perspective today is that a significant amount of tightening has already been done. Secondly, even when you look at a one-year ahead estimate basis on inflation, even if you assume the expected average inflation to be about 5.5%, fixed income yields today are anywhere between 7% and 8% depending on tenors. So a one-year T-bill today is trading north of 7%. We still have real returns available in fixed income instruments in India today. That, apart from the diversification angle that you did mention initially, would be the key investment points from the Indian fixed income angle. ”A lot of data is coming in where investors are looking very keen on investing in fixed deposits and looking at the interest rate trajectory so far, where debt looks very attractive for all those investors who want to maybe rebalance their portfolio or have a debt exposure. But going ahead, what is the story that you see brewing because in India, if we talk about domestic triggers, inflation still remains a concern, monsoon is predicted to be a dampener in September also. Seeing the kind of situation that is emerging, what is likely on the interest rate front?Coming to some of the factors you mentioned in terms of potential risk factors from a fixed income market perspective, we still have inflation which is fairly elevated and above the upper end of the policy target.

Fixed deposits have long been a popular investment choice for risk-averse investors. A variation of this traditional financial instrument is known as special fixed deposits. These deposits offer unique features and potential benefits.

GMR Goa International Airport is looking to raise ₹2,480 crore by issuing non-convertible debentures to repay existing debt and fund capex. The securities have a tenor of five years and will be raised at 10.25%.JP Morgan will help raise the debt. The paper is rated BBB+ by Care Ratings and has a call option after three years. Proceeds of the paper will be used to repay the existing senior debt of ₹1,520 crore, repay the external subordinated debt of ₹227 crore, repay the group-level debt of ₹269 crore and fund capex, according to an indicative term sheet seen by ET. GMR Goa International Airport, which is a 100% subsidiary of GMR Airports, is a special purpose vehicle (SPV) set up to establish the greenfield international airport at Mopa in the northern part of Goa, on a design, build, finance, operate and transfer basis.

Asian stocks broadly rose after US equities moved higher, with traders awaiting a raft of economic figures over the next few days for clues on the outlook for global central bank policy. An Asian equity gauge climbed 0.5%, supported by gains in Hong Kong, Japan and Australia. Shares in mainland China fell at the open, before heading into positive territory.

Reserve Bank of India's move to withdraw liquidity from the banking system has forced lenders to scout the market for funds, pushing up the issuances of certificates of deposits (CDs) to a three-month high for the previous fortnight. Banks raised over 350 billion rupees ($4.24 billion) via CDs in the fortnight ended Aug. 25, data from CCIL's F-Trac platform showed.

In the past 12 months, big-ticket floating rate loan borrowers have had a rough ride. The continuous uptick in interest rates has triggered a sharp reset of rates in their floating rate loans. Taking cognisance of the numerous complaints received on the changes imposed by lenders without proper communication or consent of borrowers, the RBI has introduced a new framework for resetting floating rate loans.