Tenor Financial News

The State Bank of India (SBI) has hiked interest rates on fixed deposits (FDs). This interest rate is applicable on FDs below ₹2 crore. The new rate is effective from today, 27 December 2023. 

₹2 crore and above to less than Rs.10 crore) with effect from 1st December, 2023. Bank of India has increased its fixed deposit rates for shorter periods i.e. “46 days to 90 days" tenure to 5.25%, “91 days to 179 days" tenure to 6.00%, for “180 days to 210 days" tenure to 6.25%, for “211 days to less than 1 Year" tenure to 6.50% and for “1 Year" tenure to 7.25% p.a.

₹6,199 per gram. The love for the yellow metal lies in the roots of India and gold is considered a hedge against inflation. The Sovereign Gold Bond scheme offers a golden opportunity for people who are hesitant to buy physical gold as apart from safety issues the investors are compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.

Bandhan Bank on Tuesday announced the introduction of a new facility aimed at the senior citizens of the country. The bank launched 'INSPIRE' which will offer 8.35 per cent interest per annum on fixed deposits for a tenor of 500 days.

RBI) has fixed the price at Rs 6,199 per gram. For investors willing to apply online, there is a discount of Rs 50 per gram and the issue price is Rs 6,149 per gram.

RBI) has set Monday, December 18 as the date for premature redemption of SGB 2017-18 Series XII of the sovereign gold bond. The price for premature redemption is Rs 6,199 per gram. Premature redemption in the SGB scheme is permitted after the completion of the fifth year from the date of issue.

Kotak Mahindra Bank and DCB Bank have hiked interest rates on fixed deposits (FDs),  under ₹2 crore. The increase comes at a time when most of the banks are cutting interest rates. 

marginal cost-based lending rate (MCLR) and repo-linked lending rates (RLLR) in December 2023. Banks that have revised their MCLR are IDBI Bank, Union Bank of India, Bank of Baroda, ICICI Bank, Canara Bank, Punjab National Bank (PNB), Bank of India and Bandhan Bank. Canara Bank has also revised its RLLR with effect from December 12, 2023. Here’s the latest MCLR and RLLR of the above-mentioned banks.

sovereign gold bonds (SGBs) this month, and one more in February. The date for subscription for 2023-24 Series III is December 18-22, 2023, while Series IV is scheduled for February 12-16. The Bond is issued by the Reserve Bank on behalf of the Government of India.

The SGB Series 2023-24 Series III subscription period is scheduled from December 18 – December 22, 2023. Therefore, the date of issuance in SGB Series III is December 28, 2023. The SGB Series 2023-24 Series IV subscription period is scheduled from February 12 – February 16, 2024, 2024. Therefore, the date of issuance in SGB Series III is February 21, 2024. S. No.TrancheDate of SubscriptionDate o

Vedanta Resources, the London-based parent of India's oil-to-metals conglomerate Vedanta, is close to finalizing a $1.25 billion loan availed jointly from Standard Chartered Bank and Cerberus Capital Management that could help it avert a default on bonds due in January, said people aware of the matter. Standard Chartered Bank will underwrite $950 million of the $1.25 billion financing while New York-based Cerberus Capital will cover the remaining $300 million, the people said requesting anonymity. Other credit investors could join as Standard Chartered Bank is expected to distribute or «sell down» its share of the loan, they added. The loan could have a tenor of about three years with interest rate in the 'high teens', the people said. Standard Chartered Bank is in talks with Davidson Kempner, Ares Management and Varde Partners to distribute a portion of its $950 million loan commitment. Vedanta Resources confirmed to ET that it was close to finalising the financing arrangement. «We are in the process of finalising the raising of $1.25 billion for the purposes of refinancing and managing our upcoming maturities,» said a spokesperson for Vedanta Resources.

MUMBAI : Yields on short term money market instruments are beginning to inch up again with rates on one-year commercial paper (CP) touching a high of 8%. Liquidity deficit, non-banking finance companies looking to raise short term money post the Reserve Bank’s decision to increase risk weights on loans to these companies are some of the factors behind the increase in CP yields. “There is a a general upward movement in money market yields.

₹1,000 crore through its inaugural public offering of secured bonds. The objective behind this fundraising initiative is to support business expansion and bolster capital resources. These bonds present an interest rate of up to 10.50% and assure a high level of safety for investors.

Fixed Deposits (FDs) have long remained a preferred choice of risk-averse investors and senior citizens who do not wish to take high risks and want to avoid market volatility. There are many types of fixed deposits, including Standard Fixed Deposit, Regular Income Fixed Deposit, Tax Saving Fixed Deposit and Senior Citizen Fixed Deposit.

Congress amid the party's humiliating drubbing in Rajasthan, Madhya Pradesh and Chhattisgarh is set to become the chief minister finally. He is likely to take the oath on December 7, ANI has reported based on information from sources. A unanimous decision was taken in the Congress Legislative Party meet in Hyderabad and the final decision to appoint the CM was left to the party high command. The Congress ran into what has now become a stock situation for the party in many states.

Bank of India, one of the leading public sector banks in India, has increased rates of its fixed deposits for its customers & general public (for ₹2 crore and above to less than Rs.10 crore) with effect from 1st December, 2023. Bank has increased its fixed deposit rates for shorter periods i.e. “46 days to 90 days" tenure to 5.25%, “91 days to 179 days" tenure to 6.00%, for “180 days to 210 days" tenure to 6.25%, for “211 days to less than 1 Year" tenure to 6.50% and for “1 Year" tenure to 7.25% p.a.

fixed deposits (FDs). As per the official website of HDFC Bank, interest rates on these deposits are effective from today 27th November 2023. The non-withdrawable FDs do not have any premature withdrawal facility.

Zimbabwean cricketer Henry Olonga has captivated audiences with a mesmerizing singing performance on Channel 9. While many know him for his achievements on the cricket field, Olonga's foray into the world of music has unveiled a new facet of his versatile talents.

A Key Fact Sheet (KFS) is a simplified document that provides borrowers with essential information about a financial product, such as a loan or a credit card. It is intended to help borrowers understand the key terms and conditions of the product and make informed decisions that align with their financial circumstances and risk tolerance.

sovereign gold bond (SGB) scheme at Rs 6,132 per gram and fixed the redemption date as November 30, Thursday. The investors who invested in the scheme have made an income of a whopping 128% (Rs 3,448) over the issue price of Rs 2,684 per gram. This does not include an interest income of 2.5% given by the government. The first tranche of the SGB (SGB 2015-I) was launched on November 5 and was available for subscription till November 20, 2015.

Anil Kothuri, MD & CEO, Fedbank Financial Services, says RBI’s intent is to clamp down on unsecured lending which is used to fuel consumption and that is what they seek to moderate and put guardrails around. “The loans that we do are loans for working capital for self-employed customers. To the best of my understanding, that is outside the ambit of the circular that the RBI has recently issued. Almost all the loans that we do in Fedfina qualify for priority sector lending by banks.” In terms of your loan book, I believe, 86% of the portfolio is backed by the assets for the company. Where do you see this target going up? Do you expect this to be at these levels in terms of the secured loan book or could this vary and maybe see a bit of a reduction? We are in business to empower emerging India with easy access to loans. We serve the working capital requirements of the small self-employed customer. We do that against the pledge of gold, mortgage of property and we do unsecured loans too. Our unsecured book is about 14% of the overall portfolio. But it has the lowest behavioural tenor. Unsecured loans get repaid within 30 months as opposed to secured mortgage loans which get repaid in about eight years. Which is why with each passing month, the proportion of secured loans in the portfolio keeps increasing. So, this 14% that you see will keep coming down with the passage of time and we will move to a greater proportion of secured assets in our book.