Deprecated: Assigning the return value of new by reference is deprecated in /home/rate1234/public_html/news/wp-includes/cache.php on line 99

Deprecated: Assigning the return value of new by reference is deprecated in /home/rate1234/public_html/news/wp-includes/query.php on line 21

Deprecated: Assigning the return value of new by reference is deprecated in /home/rate1234/public_html/news/wp-includes/theme.php on line 576

Deprecated: Assigning the return value of new by reference is deprecated in /home/rate1234/public_html/news/wp-content/plugins/exec-php/exec-php.php on line 22

Deprecated: Assigning the return value of new by reference is deprecated in /home/rate1234/public_html/news/wp-content/plugins/exec-php/includes/manager.php on line 36

Deprecated: Assigning the return value of new by reference is deprecated in /home/rate1234/public_html/news/wp-content/plugins/exec-php/includes/manager.php on line 37

Deprecated: Assigning the return value of new by reference is deprecated in /home/rate1234/public_html/news/wp-content/plugins/exec-php/includes/manager.php on line 38

Deprecated: Assigning the return value of new by reference is deprecated in /home/rate1234/public_html/news/wp-content/plugins/exec-php/includes/manager.php on line 39

Deprecated: Assigning the return value of new by reference is deprecated in /home/rate1234/public_html/news/wp-content/plugins/exec-php/includes/admin.php on line 53

Deprecated: Assigning the return value of new by reference is deprecated in /home/rate1234/public_html/news/wp-content/plugins/exec-php/includes/admin.php on line 56

Deprecated: Assigning the return value of new by reference is deprecated in /home/rate1234/public_html/news/wp-content/plugins/exec-php/includes/admin.php on line 57

Deprecated: Assigning the return value of new by reference is deprecated in /home/rate1234/public_html/news/wp-content/plugins/exec-php/includes/admin.php on line 63

Deprecated: Assigning the return value of new by reference is deprecated in /home/rate1234/public_html/news/wp-content/plugins/exec-php/includes/admin.php on line 64

Deprecated: Assigning the return value of new by reference is deprecated in /home/rate1234/public_html/news/wp-content/plugins/exec-php/includes/admin.php on line 79

Deprecated: Assigning the return value of new by reference is deprecated in /home/rate1234/public_html/news/wp-content/plugins/exec-php/includes/cache.php on line 22

Deprecated: Assigning the return value of new by reference is deprecated in /home/rate1234/public_html/news/wp-content/plugins/exec-php/includes/cache.php on line 39

Deprecated: Assigning the return value of new by reference is deprecated in /home/rate1234/public_html/news/wp-content/plugins/exec-php/includes/ajax.php on line 64
 
Uncategorized | Ratekhoj.com, Best Fixed Deposits, Loans, Insurance Rates and Credit Cards

Take advantage of the Loyalty Rewards Program introduced by SBI for Internet Banking customers. This scheme is effective from November 26, 2009.

This scheme rewards existing as well as new retail internet banking customers of SBI by giving them reward points for transacting online. The rewards points can then be redeemed for cash.

According the the release from SBI, internet banking customers will automatically qualify for reward points if they carry on the following transactions of Rs. 100 or above via onlinesbi:

Based upon the number of transactions a customer will gain points and these points can be redeemed online for cash back. The cash from the redemption proceeds will be immediately credited to the customers transaction account upon opting for redemption, subject to the availability of a minimum of 400 points at the time of each redemption.

The number of points rewarded depends on the transaction type as shown in the table below: 

Transaction Type No. of Points Rewarded
RTGS/NEFT 5
Bill Payment/Merchant 6
IRCTC 10
VMT 10
Govt Tax Payments 20

 

The value of each rewards point is Rs 0.25.

The best part of this scheme is that no registration is required for enjoying the benefits of this program. All internet banking customers doing online transactions will be automatically eligible for loyalty rewards.

The Loyalty Rewards Program will continue for 1 year and maybe extended at the discretion of the bank. You will have three months after the withdrawal of the scheme to redeem your points.

If you are a internet banking customer doing a lot of transactions, this is an excellent offer from SBI. Find more details of the Loyalty Rewards Program here.

September 12, 2009. Union Bank of India has joined many other institutions including SBI, PNB and HDFC in offering lower interest rates on home and car loans for the festival season. These new lowered interest rates will be applicable until October 31, 2009.

UBI is now offering an interest rate of 8.50% for home loans upto Rs. 50 lacs for first 3 years of loan repayment period. After the first 3 years, the bank is offering interest rates linked to its BPLR and the interest rates will depend on the BPLR prevailing at the end of your 3 years loan period.

Interest rates for loan amounts above Rs. 50 lakhs are being offered at 9.25% for first 3 years of your loan. After the first 3 years, interest rates will be based on the bank’s BPLR.

Interest rates offered by UBI are attractive and if you are looking for a home loan, this is certainly a good offer.

September 12, 2009. Punjab National Bank, a public sector bank in India, has announced a festival bonanza offer reducing housing and car loan interest rates until October 31, 2009.

Under this scheme, home loans upto Rs. 30 lacs will be offered a fixed interest rate of 8.50% for the first 3 years of the loan repayment period. Full waiver of documentation and processing fees also come with this scheme.

Margin for housing loans upto Rs. 20 lacs stands reduced to 15%. This means that you can get a loan for upto 85% of the cost of the house you would like to purchase as appraised by PNB.

PNB is also offering a reduction of 0.50% for car loans under fixed rate option.

September 12, 2009. South Indian Bank has announced an attractive home loan scheme titled SIB Shelter for individuals or individuals jointly with spouses. South Indian Bank is a private sector bank headquartered in Thrissur, Kerala with close to 550 branches and over 300 ATMs.

SIB Shelter offers home loans for amounts upto Rs. 1 crore and is available  (a) for owning a house – readybuilt or construction of house in own land and (b) for purchase of a ready-to-occupy flat. 

SIB Shelter home loan interest rates come in 2 slabs - amounts below Rs. 30 lacs and amounts above Rs. 30 lacs.

For loans below Rs. 30 lacs, this scheme offers an interest rates of 8.50% fixed for the first 18 months of the loan tenure and 9.50% fixed for the next 18 months of the loan. Rate of interest after the first 36 months for the balance period of repayment would the then prevailing housing loan interest rate of the bank for housing loans upto & including Rs. 30 Lacs.

For loans above Rs. 30 lacs, this scheme offers an interest rates of 9.00% fixed for the first 18 months of the loan tenure and 10.00% fixed for the next 18 months of the loan. Rate of interest after the first 36 months for the balance period of repayment would the then prevailing housing loan interest rate of the bank for housing loans above Rs. 30 Lacs.

At the end of 3 years or 36 months, switchover to rate of interest - fixed or floating - shall be allowed without any switchover charges.

The scheme is applicable only to fresh loans and not to takeover loans from other banks/institutions.

The margin requirements of South Indian Bank for housing loans is as follows:

(a) construction of new house/ purchase of land and construction of new house / purchase of ready built house/ flat : 25% of estimated cost

(b) 30% of cost for purchase of old house/ renovation of existing house

South Indian Bank charges one time upfront fee 0.50% of the loan amount.

Compare South Indian Bank’s home loan scheme with other home loans schemes in India at Ratekhoj to get the best interest rate and other terms for your home purchase.

September 8, 2009. SBI, India’s largest bank, has announced that it is no longer offering the 1000 days fixed deposit. The 1000 days fixed deposit was earlier giving fixed depositors an interest rate of 7.25%. This change is effective from September 8, 2009.

With this change, SBI now offers a fixed deposit with a term of 2 to 3 years with an interest rate of 7.00% (senior citizens can get 0.50% additional interest for this deposit).

The highest interest rate offered by SBI currently is 7.75% for a fixed deposit term of 8 years to 10 years with senior citizens getting 8.25% for the same deposit period.

Comparison of fixed deposit rates at Ratekhoj indicates that the current highest fixed deposit rate offered by any bank in India currently is 8.25%. This rate is offered by Lakshmi Vilas Bank (for terms of 3 to 5 years as well as 5 to 10 years) and DBS Bank for a term of 5 years.

Lakshmi Vilas Bank is a private sector bank with a business of over Rs. 12, 600 crores while DBS Bank is a foreign bank headquartered in Singapore.

Considering public sector banks only, the highest fixed deposit rate currently is being offered by State Bank of Travancore. This interest rate of 8.00% is being offered for a term of 8 years to 10 years.

Interest rates for fixed deposits have been going down in recent months. While fixed deposit investors could earlier get between 10% and 11%, now the highest rates hover around 8.00% only. Most of the higher rates for fixed deposits are being offered for terms of over 3 years. Only Development Credit Bank is offering an interest rate of 8.00% for a short term of 1 year.

Compare and get the best fixed deposit rates currently being offered by going to Ratekhoj’s fixed deposits comparison page.

August 26, 2009. Tata Motors, India’s largest automobile company, is reintroducing its fixed deposit scheme with new interest rates. The fixed deposits are intended to raise around Rs. 1500 crores according to a company announcement. The fixed deposits are offered for terms of 2 and 3 years with a minimum deposit of Rs. 20,000. Interest rates for these fixed deposit are 8.00% for the 2 year term and 8.75% for the 3 year term.

The fixed deposit scheme has two investment options for the public:

Investment Option I: Scheme-A Quarterly Income Plan*

Period

Minimum Amount (Rs.)

Rate of Interest (p.a)

2 Years

20,000

8.00%

3 Years

20,000

8.75%

* Monthly interest option available in case of deposits of Rs. 1 lakh & above

 

Investment Option II: Scheme-B Cumulative Deposit Plan

Period

Minimum Amount (Rs.)

Rate of Interest*(p.a)

Maturity Value (Rs.)

Yield (p.a)

2 Years

20,000

8.00%

23,433

8.58%

3 Years

20,000

8.75%

25,930

9.88%

* Compounded quarterly

 

Additional amount of deposits will be accepted in multiples of Rs. 10,000. Interest and maturity value payments are subject to deduction of tax at source, wherever applicable. Deposits will be accepted from Individuals, Minors (through Natural Guardians), Non Resident Indians on non repatriation basis (through NRO account only) and HUFs.

Complete details of the scheme can be obtained from the Tata Motors fixed deposits page.

Comparison of the fixed deposit interest offered by Tata Motors and other institutions in India can help you get the best interest rates in the institution of your choice.

According to Tata Motors, it is the leader in commercial vehicles in each segment, and among the top three in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. The company is the world’s fourth largest truck manufacturer, and the world’s second largest bus manufacturer. Tata Motors, the first company from India’s engineering sector to be listed in the New York Stock Exchange (September 2004), has also emerged as an international automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand and Spain.

August 21, 2009. Sahil Group, a company involved in the Hospitality industry and setting up of spas and resorts, has launched a fixed deposit scheme to raise funds.

The company is offering fixed deposits with terms of 1 year, 2 years and 3 years.

The interest rate offered for fixed deposits with a term of 1 year is 11% with senior citizens being offered 11.25%.

The interest rate for a term of 2 years is 12% (seniors: 12.25%) and the depositors are being offered 12.50% (seniors also get 12.50%) for a term of 3 years.

 The minimum amount of deposit for these schemes is Rs. 10,000 with multiples of Rs. 5000 accepted beyond the minimum amount.

Interest on these schemes will be paid half-yearly in September and March.

More details on this scheme can be obtained from the Sahil Group website.

December 10, 2008, Ratekhoj.com. Tata Motors Limited, a flagship company of the Tata Group which is one of the largest business groups in India, has announced that it is offering fixed deposits with terms of 1 year, 2 years and 3 years. Tata Motors is engaged in the manufacture, design and marketing of passenger and commercial vehicles in India.

The company is accepting fixed deposits with a minimum deposit amount of Rs. 20,000 with additional deposits accepted in multiples of Rs. 10,000. Investors can choose either a Quarterly Income Plan (Scheme A) or a Cumulative Deposit Plan (Scheme B) where interest in compounded quarterly. Investors depositing more than Rs. 1 lac can also choose a monthly income plan. Senior citizens can get 0.50% additional interest. The following are the interest rates offered by Tata Motors:

Quarterly Income Plan
Period Minimum Amount Interest Rate
1 Year Rs. 20,000 10.00%
2 Years Rs. 20,000 10.50%
3 Years Rs. 20,000 11.00%

 

Cumulative Deposit Plan Plan
Period Minimum Amount Interest Rate(Compounded Quarterly) Maturity Value Yield
1 Year Rs. 20,000 10.00% Rs. 22, 076 10.38%
2 Years Rs. 20,000 10.50% Rs. 24,607 11.52%
3 Years Rs. 20,000 11.00% Rs. 27,696 12.83%

 

The offer of 10.00% for a 1 Year fixed deposit does not compare favorably with fixed deposit rates offered by many banks in India currently for a 1 year period. DBS Bank currently offers an interest rate of 11.25% while Tamilnad Mercantile Bank, Karur Vysya Bank and Lakshmi Vilas Bank all offer 11.00%. YES Bank, Catholic Syrian Bank, Bank of Rajasthan, Federal Bank, South Indian Bank, Indian Bank, UCO Bank, IDBI Bank, State Bank of Bikaner and Jaipur, ABN AMRO Bank, State Bank of Mysore, State Bank of Patiala, Corporation Bank and several other banks offer interest rates of 10.00% or more. Given this, the offer by Tata Motors is not attractive to investors for the deposit period of 1 year.

The offer of 10.50% for a 2 Year fixed deposit also does not compare favorably with fixed deposit rates offered by many banks in India currently for a 2 years period. DBS Bank currently offers an interest rate of 11.25% while Tamilnad Mercantile Bank, Karur Vysya Bank, City Union Bank and Lakshmi Vilas Bank all offer 11.00%. YES Bank, Karnataka Bank, ING Vysya Bank, Syndicate Bank, Indian Bank, Bank of Rajasthan and Development Credit Bank all offer interest rates of 10.50% or more. Depositors can choose these banks over Tata Motors for a deposit period of 2 years as well given the relative safety of banks over company deposits.

The offer of 11.00% for a 3 Year fixed deposit is attractive when compared with fixed deposit rates offered by many banks in India currently for a 3 years period. Only Tamilnad Mercantile Bank, Karur Vysya Bank and Lakshmi Vilas Bank currently offer an interest of 11.00% for fixed deposit terms of 3 years. Tata Motors compares favorably with all other banks and therefore offers a good alternative if depositors are looking for higher returns on their fixed deposits for a term of 3 years.

Tata Motors is authorised to raise up to Rs 1,931.48 crore from the public through fixed deposits. People interested in this scheme can download the application form and submit them at designated offices of J M Financial, Kotak Securities Limited, Tata Securities Limited or HDFC Bank as specified in the application form.