Latest SBI interest rates (Jan-2013)-A quick review
The interest rates on fixed deposits and recurring deposits are falling month on month. I had surplus money and was enquiring about the latest interest rates to deposit for short term period of 1-2 years and noticed a gap in the rates offered by various banks. I have seen one of the international bank in India where I have my salary account is offering around 7.5% per annum. However comparing the latest SBI interest rates, I felt they are reasonably good. Why we need to compromise on our returns on FD?
Latest SBI interest rates
SBI is the largest public sector bank in India. Latest SBI interest rates are enclosed below. I felt choosing a re-investment plan would be a good option. Re-investment plan is nothing but your interest would get re-invested and it would not be credited to your bank account year on year. The entire FD amount along with interest would be paid to you at maturity. As per the rates offered by them, it indicates that the FD would get doubled only between 8 to 9 years (average we can assume it would be around 8.5 years). With falling interest rates, the period required for the FD amount to be doubled would further increase in future.
Conclusion: I agree there are smaller banks which are offering little higher interest rates. When interest rates are falling, latest SBI interest rates are giving some hope for investors that large banks are still offering good interest rates.
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Suresh
Topic: Latest SBI interest rates (Jan-2013)-A quick review
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Thanku sir
Effective today, SBI has revised its interest rate for Fixed deposit. Pasting the link here for your kind reference.
https://www.sbi.co.in/user.htm?action=viewsection&id=0,16,384,385
Ashwin, This article was posted on specific date, now latest rates are changed. We would update in our next revised article. Thanks.
Yes Suresh, I understand that the article was published much before 🙂 Your articles are great. It was just an information which I came across all of a sudden. So thought it might help people who visit the blog 🙂
Thanks, Ashwin Shenoy
Sure Ashwin. Thanks for your valuable feedback, i will check how to update this old post
Thanks Suresh.
1) Dear, is it possible for you to provide some basic investment knowledge for very new investors like me.
My friends regularly following your blog as I.
Put a special section for basic knowledge, it will be very useful to us.
Even my couligues invested after going through your blog.
2) Please sugest a good retirement plan for a 33 year old aged salaried person.
3) Please tell me where and how many sum should invest if I want Rs. 2 Lacs after One and half year.
Please give me the name of that option.
Thanks in advance.
Pramod, for new investors like you, I have started some basic articles from last week. I would categorize them seperately. Refer this article about retirement plan. https://myinvestmentideas.com/2012/12/best-pension-plans-in-india-for-2013/ 3) Invest Rs 7,500 in debt mutual funds for 18 months to get Rs 2L.
Dear sir I am a 33 year salaried person(central govt.). I have taken two LIC Policy of Rs. 5Lacs+5 Lacs=10 lacs for 15 years. Now I am investing through SIP in SBI MSFU Fund (Rs. 2500/-per month) and in HDFC Prudence Fund (Rs. 1000/-per month).
Now again I can invest Rs. 3000/- per month more, but here I have no idea where should be invest. I want to invest this sum for long time at least for 5 years or more. Also I want to avail maximum frim this. Please guide me.
Also sugest me for my retirement if possible.
Hi Pramod, If you are looking for 5 year investment period, invest in diversified mutual funds + balanced mutual funds. Refer this article for top mutual funds under this. https://myinvestmentideas.com/2012/12/top-10-mutual-funds-for-sip-to-invest-in-2013/
dear sir…. i m a force porsonnel with limited salary…. i m paying appx 10,000 income tax annually…. sir i want to invest 4000 monthly in a guarenteed return plan …. without any risk on money so that i can get rebate on income tax….. please suggest me for which plan i should go….. suggest a short term plan
Hi Narender, What is your taxable income. Have you exhauted all the tax benefits /exemptions ? If you want to invest Rs 4,000 in risk free tax investment optin, look for PPF, NSC, Post office term deposit or 5 years tax saver bank FD.
dear sir,
thanks for the advice regarding debt funds, i am planning to invest in hdfc income fund.
dear sir, i have invested rs 4 lakhs in gold bees gradually over 2 years since when gold was at about rs 21000, but it is not growing for some time now rather is declining, when would it be best time to quit out of gold.. thanks
Dr. Amit. HDFC Income fund is ok, but there are better funds to invest now. You can review and invest in SBI Dynamic bond fund, IDFC Dynamic fund. Regd your question on gold, gold has rallied over last 12 years. There has to be correction. We cannot comment how far this correction would go. But if you are looking for long term investment, invest in every dip.
hello..
please guide about investing 2 lakh rupees, in a safe investment option with decent or good returns. please guide about the risk and return profile of hdfc income fund, thanks
Hello Dr. Amit. If you are looking for safe investment option, invest in FD or debt mutual funds. The returns would be around 8% to 10%. Check my articles about best debt mutual funds and best FD rates.
sir ,, I want earn guaranted 10lakhs in ten years ,, in which plan should I invest ,, I m college student ,, please reply me on my email ..
Rahul, since your time horizon is 10 years, you should align your portfolio more to investments in equity and a small portion to investments in FD/debt, You can invest a good amount in large cap stocks, diversified mutual funds. 20% of portfolio can be invested in FD, debt funds etc., This way you would sure shot achieve maximum returns.