https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756354
vu ..
please educate, why prefer FD over Stocks or Bonds If horizon is 600+ days
Canara bank FD rate 7.19% (normal)and 7.71% (Sr Citezen) interest 666 days
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https://canarabank.com/User_page.aspx?othlink=9.... Canara bank FD rate 7.19% (normal)and 7.71% (Sr Citezen) interest 666 days
There is a need for balance while making investment. No doubt the return is more in mutual funds / stocks but there is huge risk in stocks as well in mutual funds.
Mutual funds are long term.
FD has no risk so major amount should be fds rest can be in stock or mutual funds.
My funda is invest in stocknor mutual funds for the amount you can take risk only and if anything happens - you don't get bankrupt....
There is a need for balance while making investment. No doubt the return is more in mutual funds / stocks but there is huge risk in stocks as well in mutual funds.
Mutual funds are long term.
FD has no risk so major amount should be fds rest can be in stock or mutual funds.
My funda is invest in stocknor mutual funds for the amount you can take risk only and if anything happens - you don't get bankrupt....
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https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756394
sppaVt wrote:Less risk, and if we hv FD then we can get Credit cards,insurance,loans etc easily..vu ..
please educate, why prefer FD over Stocks or Bonds If horizon is 600+ days
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756407
There is a need for balance while making investment. No doubt the return is more in mutual funds / stocks but there is huge risk in stocks as well in mutual funds.
Mutual funds are long term.
FD has no risk so major amount should be fds rest can be in stock or mutual funds.
My funda is invest in stocknor mutual funds for the amount you can take risk only and if anything happens - you don't get bankrupt....
Mutual funds are long term.
FD has no risk so major amount should be fds rest can be in stock or mutual funds.
My funda is invest in stocknor mutual funds for the amount you can take risk only and if anything happens - you don't get bankrupt....
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756412
sppaVt wrote:Donevu ..
please educate, why prefer FD over Stocks or Bonds If horizon is 600+ days
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756446
Maximum interest is 7.5%... 7.71 is annualized yield- only for cumulative deposits 
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756456
Us federal Reserve is going to increase another 0.75% in the nov.. Rbi will follow another atleast 0.5% ( 50 bps) in the next meeting in nov.
That said can bank 1 year fd for senior @ 7% is not bad ( for a quasi govt bank IDBI also of late offering above 6.6© for senior.
Right now iam on waiting mode in short term deposit till dec.
Karnataka bank 7 day fd @ 5.25%
Karur vsya bank 31 day fd @ 5.3%
Indusind 31 [email protected] 4.75% /7 day at 4.25%
DCB bank 14 days at 5.25%
RBL bank 15 days at 4.25%
2023 full year interest rate may slowly inch up & or will be on hold ( same) no reduction till Inflation drops to 2-4% ( right now govt fake statistics is 7-8% . Real inflation is around 15-20%)
So canara 366 days fd will be on my short list by end nov/ end dec. ( minimum 5 lakh)
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756469
posiedon wrote:Us federal Reserve is going to increase another 0.75% in the nov.. Rbi will follow another atleast 0.5% ( 50 bps) in the next meeting in nov.
That said can bank 1 year fd for senior @ 7% is not bad ( for a quasi govt bank IDBI also of late offering above 6.6© for senior.
Right now iam on waiting mode in short term deposit till dec.
Karnataka bank 7 day fd @ 5.25%
Karur vsya bank 31 day fd @ 5.3%
Indusind 31 [email protected] 4.75% /7 day at 4.25%
DCB bank 14 days at 5.25%
RBL bank 15 days at 4.25%
2023 full year interest rate may slowly inch up & or will be on hold ( same) no reduction till Inflation drops to 2-4% ( right now govt fake statistics is 7-8% . Real inflation is around 15-20%)
So canara 366 days fd will be on my short list by end nov/ end dec. ( minimum 5 lakh)
Banks will take few weeks to reflect this change. But I agree with your thoughts. Also, it is 7.5 currently for senior citizens.
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756476
Wholesale inter bank rates are up. That is why all the banks are slowly increase fd rares. Current situation FOR 1 YEAR APPROXIMATELY ( for senior citizen)
SIB 6.9%
AXIS 6.5%
KOTAK 6.5%
CUB 6.5%
BANDHAN 7.5%
RBL 7.5%
INDUSIND 7%
AU 7.1%
you can expect another 50-75 basis point Increse in fd rates by end nov/ mid December.
So dont make all your funds in one go or beyond 400 days right now. Better opportunity awaits in 6-10 weeks
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756478
bandhan/idfc offers 7% ( general ) 7.5% ( senior ) for 1yr time kind of best as of now after a year i'm expecting rates to rise 8%-8.5% in bandhan
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756487
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abhishekkjain wrote:Banks will take few weeks to reflect this change. But I agree with your thoughts. Also, it is 7.5 currently for senior citizens.
Yes. All rates I quoted are for senior. So 0.5% less for citizens below 60. ( nri/ nre/nro di t get extra 0.5% for senior citizens)
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756493
Suggest to refer individual banking website for latest interest rates on deposits. Some information posted by Dimers are not the updated ones. No offence to anyone please.
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756494
posiedon wrote:try overnight fund giving currently 5.7% after recent repo rate hike ( only if u understand bond funds )Us federal Reserve is going to increase another 0.75% in the nov.. Rbi will follow another atleast 0.5% ( 50 bps) in the next meeting in nov.
That said can bank 1 year fd for senior @ 7% is not bad ( for a quasi govt bank IDBI also of late offering above 6.6© for senior.
Right now iam on waiting mode in short term deposit till dec.
Karnataka bank 7 day fd @ 5.25%
Karur vsya bank 31 day fd @ 5.3%
Indusind 31 [email protected] 4.75% /7 day at 4.25%
DCB bank 14 days at 5.25%
RBL bank 15 days at 4.25%
2023 full year interest rate may slowly inch up & or will be on hold ( same) no reduction till Inflation drops to 2-4% ( right now govt fake statistics is 7-8% . Real inflation is around 15-20%)
So canara 366 days fd will be on my short list by end nov/ end dec. ( minimum 5 lakh)
pros of overnight fund over short-term fd ( less than 1yr )
1. liquid can redeem anytime
2. current yield is around 5.9% similar to repo rate so expect 5.7%+ return for next 2month and then it'll increase automatically with rbi repo rate hike
3. nearly no risk
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756498
I also park funds short term in high Interest sb ( no tds) in the following banks. All for balances above 1 lakh rs)
AU ( 5% MONTHLY payable SB INTEREST) ( 6% above ₹ 10 lakh)
BANDHAN (6% QUARTERLY)
RBL (5.5% QUARTERLY)
DCB (5.5% QUARTERLY)
EQUITAS (6% UP TO 5 LAKHS, 7% FOR BALANCE ABOVE 5 LAKHS)
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756512
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Jarvis.-. wrote:
try overnight fund giving currently 5.7% after recent repo rate hike ( only if u understand bond funds )
pros of overnight fund over short-term fd ( less than 1yr )
1. liquid can redeem anytime
2. current yield is around 5.9% similar to repo rate so expect 5.7%+ return for next 2month and then it'll increase automatically with rbi repo rate hike
3. nearly no risk
I know about repo rate linked fd from yes bank & DBS( treasure). I don't trust funds that much. I do have zerodha brokerage.
In my bank system I keep only 7 lakh fd in any single bank so that fd interest is just below tds threshold of 50000 for senior citizen in any tax year.
But that said, you have any good experience with any overnight fund? Do mention name Or link, I will explore!
If you give withdrawal request to overnight fund,how many working days it takes to credit to your sb?
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756555
sppaVt wrote:FDs good for retired parents. Less risk.vu ..
please educate, why prefer FD over Stocks or Bonds If horizon is 600+ days
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756584
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If redeemed in Monday -Thursday it'll take 1-2 days
If redeemed in Friday - Sunday it'll come in sat-mon-tue (there r many rules)
Note : u have to show any income as short term capital gain in income tax so u can't file itr 1
posiedon wrote:Every overnight fund is same explore hdfc sbi axis icici onesI know about repo rate linked fd from yes bank & DBS( treasure). I don't trust funds that much. I do have zerodha brokerage.
In my bank system I keep only 7 lakh fd in any single bank so that fd interest is just below tds threshold of 50000 for senior citizen in any tax year.
But that said, you have any good experience with any overnight fund? Do mention name Or link, I will explore!
If you give withdrawal request to overnight fund,how many working days it takes to credit to your sb?
If redeemed in Monday -Thursday it'll take 1-2 days
If redeemed in Friday - Sunday it'll come in sat-mon-tue (there r many rules)
Note : u have to show any income as short term capital gain in income tax so u can't file itr 1
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756644
My target of 8% gonna hit sooner than expected. Revising it to 9% by 2023 end b4 elections to soothe sr.citizens. If hit will go for 10 year fd.
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756718
Risk always comes free with investment
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756731
Correct so act smartly
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756770
PF ke rates badhao Modiji...
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756776
If okay with little more risk, than park some surplus money in bonds as well.
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756779
Jarvis.-. wrote:How safe is bandhan bank?bandhan/idfc offers 7% ( general ) 7.5% ( senior ) for 1yr time kind of best as of now after a year i'm expecting rates to rise 8%-8.5% in bandhan
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756781
prashant373737155 wrote:
There is a need for balance while making investment. No doubt the return is more in mutual funds / stocks but there is huge risk in stocks as well in mutual funds.
Mutual funds are long term.
FD has no risk so major amount should be fds rest can be in stock or mutual funds.
My funda is invest in stocknor mutual funds for the amount you can take risk only and if anything happens - you don't get bankrupt....
Every financial instrument has some risks associated with it. Some have volatility issues, some have liquidity issues, some have not being able outperform the inflation issues....
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756782
rohan8397 wrote:Tab toh "Acche Din" aane wale hai.
PF ke rates badhao Modiji...
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756786
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InvestPotato wrote:As much as a private fully commercial bank is, its not small finance bank like equitas au etc
How safe is bandhan bank?
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756789
Most small finance banks offer 8% for Seniors.
Parking 5 lakhs in different SF banks is also a good option!
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756790
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Jarvis.-. wrote:
As much as a private fully commercial bank is, its not small finance bank like equitas au etc
Please check the NPA/GPA ratio post covid.
Before covid it was about 1-2% GPA and 0.5% NPA
It increased to 8-10% GPA and 2-3% NPA
reason centralised loan portfolio on north eastern states
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756798
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(fun fact it's legal)
So I'm not putting everything in bandhan but i also think rbi will/forced to save bandhan like yes bank
InvestPotato wrote:I know that i also know how they gave loan to same people who didn't gave back previous loanPlease check the NPA/GPA ratio post covid.
Before covid it was about 1-2% GPA and 0.5% NPA
It increased to 8-10% GPA and 2-3% NPA
reason centralised loan portfolio on north eastern states
(fun fact it's legal)So I'm not putting everything in bandhan but i also think rbi will/forced to save bandhan like yes bank
https://www.desidime.com/discussions/canara-bank-fd-rate-7-19-normal-and-7-71-sr-citezen-interest-666-days?page=1#post_8756878
(This is not an endorsement) One could look at fincare Small Finance bank too, for parking money at savings
https://www.fincarebank.com/interes...te
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You need to have a horizon of over 3 - 5 - 7 years for mutual funds. Long term in MF is not anything below 12+ years...
Problem is, all the amateurs who entered MF investing have seen returns after March'20 and think that it is easy to get 100% reruns in 1-2 years in MF. All stock market related investment runs on business cycles which is typically 3-5 years. That might be a hit (upturn after 3rd year) or a miss (take it to next 5th/6th year). With small cap funds, the turn around time is 6 years.
With thematic funds, the point of exit matters.. the darling of all MFs,- tech funds, under-performed broader markets for 7 years before turning positive coz of WFH from April '20 - Dec ' 21 and now have fallen 40-50% in a span of just 9 months.
Moreover, MFs are not for senior citizens till you are sitting on a pile of cash & don't require it for the next 7 years or so. In that case also, balanced advantage funds or aggressive hybrid funds are the way to go. It typically takes 2-3 years for a MF theme or a fund manager theme to play out.
@kukdookoo
Us federal Reserve is going to increase another 0.75% in the nov.. Rbi will follow another atleast 0.5% ( 50 bps) in the next meeting in nov.
That said can bank 1 year fd for senior @ 7% is not bad ( for a quasi govt bank IDBI also of late offering above 6.6© for senior.
Right now iam on waiting mode in short term deposit till dec.
Karnataka bank 7 day fd @ 5.25%
Karur vsya bank 31 day fd @ 5.3%
Indusind 31 [email protected] 4.75% /7 day at 4.25%
DCB bank 14 days at 5.25%
RBL bank 15 days at 4.25%
2023 full year interest rate may slowly inch up & or will be on hold ( same) no reduction till Inflation drops to 2-4% ( right now govt fake statistics is 7-8% . Real inflation is around 15-20%)
So canara 366 days fd will be on my short list by end nov/ end dec. ( minimum 5 lakh)