Page 2 - Deposit Rates

MCA tweaks rules about company deposits, enhances statutory auditors' role

The new rules, according to experts, will widen the responsibility of directors to the statutory auditors. They came into effect on August 29

Now, IDBI Bank too hikes deposit rates to fund strong loan demand

The highest rate for senior citizens is 6.55 per cent for tenors ranging from 5 years to more than 5 years and up to 10 years

As banks woo them, are depositors looking at good days ahead?

Banks are rushing to woo depositors with attractive rates. These deposit rates may soar further if repo rate rise to 5.75 - 6% by the end of this calendar year. So, what is in the store for investors?

Top Headlines: Common charger for all mobiles; banks rush to woo depositors

At a time when growth in bank credit is outstripping that of deposits, several lenders, including the country's largest bank, State Bank of India (SBI), have raised deposit rates ahead of the festival

Competition may push deposit rates up over 100 bps by December: Bankers

There is, however, room for the deposit rates to rise, with the average one-year deposit rate for banks standing at 5.41 per cent

HDFC Bank opens special window offering 6.80% interest for NRE deposits

The window, which is available on Wednesday and Thursday, offers an annual rate of 6.80 per cent on NRE deposits worth Rs 2 crore to less than Rs 150 crore

RBI hikes capital adequacy ratio for urban cooperative banks to 12%

Rule applies to banks with deposits above Rs 100 crore; glide path till March 2026, to meet revised CAR norm in phases for UCBs that do not meet it currently

Several factors still hinder monetary transmission to bank rates: RBI

Although transmission of deposit and lending rates has significantly improved in recent times, several factors continue to obstruct effective monetary transmission to these bank rates, RBI has said

Moody's downgrades deposit ratings, credit assessment of four PSU banks

Says economic shock from Covid-19 may weaken borrower credit profiles and hurt their asset quality. outlook on ratings of all four is negative

Sundaram Finance lowers interest rates on deposits across tenures

The company has around 600 branches spread across the country

CRISIL upgrades YES Bank's certificates of deposit from 'A2' to 'A2+'

YES Bank's total deposits increased to Rs 1.17 trillion (including CD) as on June 30 from Rs 1.05 trillion as on March 31

SBI reduces savings deposit rates by 5 bps, ICICI Bank by 25 bps

SBI has reduced its savings deposit interest rates to 2.70 per cent across all slabs from May 31, according to its website

ICICI Bank slashes interest rate on saving deposits by 25 basis points

The private sector lender has cut interest rate on all deposits of less than Rs 50 lakh to 3 per cent

SBI cuts MCLR for ninth straight month making auto, home loans cheaper

The bank also reduced interest rate on term deposits - retail and bulk - by 10-50 basis points (bps) across various tenors

Budget 2020: Govt's reliance on small savings makes rate transmission tough

Bond yields will also be under pressure due to Rs 2.7 trillion of switches in FY21, which increases duration risk

Deposit rate cut beyond a point is risky, India lacks safety net: SBI chief

On rate transmission by banks, Kumar said when interest rate moves downwards then everybody starts talking and when it goes upwards nobody talks about it

SFBs need to widen deposit base by Rs 60,000 crore in 2 yrs: Report

Granular deposits, which are current and savings deposits and retail term deposits, accounted for 48 per cent of total deposits in FY19

SBI cuts MCLR by 5 bps across all tenors, reduces fixed deposit rates

With this reduction, the one year MCLR, to which most of its loan prices are linked, will come down to 8 per cent

Fixed deposit investors likely to feel the pinch after SBI cuts rates

The SBI has cut deposit rates by 5-75 basis points across tenures. Shorter-tenure deposits have seen a higher quantum of cut than longer deposits

Repo-linked deposit rates: A tiny half-step

SBI has not announced the linking of lending rates of longer-term loans for businesses and retail customers of home loans, personal loans, auto loans, etc. to make these true floating rates