Category: Financial

A Non-Banking Financial Company (NBFC) is a  company registered under the Companies Act, 1956 and is engaged in the business of loans and advances, acquisition of shares/stock/bonds/debentures/securities issued by Government or local authority or other securities of like marketable nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, sale/purchase/construction of immovable property. A non-banking institution which is a company and which has its principal business of receiving deposits under any scheme or arrangement or any other manner, or lending in any manner is also a non-banking […]

This page includes references to all the major Indian banks FD interest rates for latest values: Government Banks: State Bank of India State Bank of Mysore State Bank of Hyderabad Government Partnered banks: Canara Bank (73.17% Central Govt./State Govt. Holding) Bank of India (64.47% Central Govt./State Govt. Holding) Punjab National Bank (57.79% Central Govt./State Govt. Holding) Union Bank of India (55.43% Central Govt./State Govt. Holding, A Public Sector Bank) Allahabad Bank (55.23% Central Govt./State Govt. Holding, A Govt. of India Undertaking) IDBI Bank Ltd. (52.67% Central Govt./State Govt. Holding) Oriental Bank of Commerce (51.08% Central Govt./State Govt. Holding, A Govt. […]

Fixed deposit can be made at any normal (exceptions for Industrial Development Branches, etc,.) branches of the banks. Invest: You need not have any prior account with the bank/branch to make a FD You can submit a cheque for the value of the FD investment.  However, FD bond will be given only after cheque clearance is done.  That means, you need to visit the bank again to collect the bond/certificate which will be drafted only after cheque clearance is done. Still, use of cheque helps you avoid carrying cash in case you are planning for a bulk amounts in a […]