Central Government keeps small savings interest rates unchanged for the 9th consecutive Quarter

We all know that central government revises small savings interest rates every Quarter(3 Months). But even RBI insists that small savings schemes interest rates are far higher than bank fixed deposits, central government keeps small savings interest rates unchanged for the 9th consecutive Quarter though there are rumours that central government will revises small savingsContinue reading “Central Government keeps small savings interest rates unchanged for the 9th consecutive Quarter”

Good News For Bank Depositors ! Banks Have Raisen F.D Interest Rates Slightly Higher !

For the past few years bank fixed deposit(F.D)interest rates have been declining which hurts the savings nature of the public. But even today there are some section of people(Retirees, Senior Citizens, Unorganised workers)rely on interest income of the banks. So there is a need to preserve their inbuilt “Sentiment” by raising interest rates and protectContinue reading “Good News For Bank Depositors ! Banks Have Raisen F.D Interest Rates Slightly Higher !”

Now You Can Do IMPS Transactions Up To 5 Lakhs

We all know that IMPS(Immediate Payment Service)allows to transfer funds to your dear ones 24*7 Round the Clock. The only drawback with this service (as of now) is it is limited to 2 Lakhs. Noticing this issue RBI(Reserve Bank of India)has instructed all the banks to hike IMPS Limit to 5 Lakhs. By the guidelinesContinue reading “Now You Can Do IMPS Transactions Up To 5 Lakhs”

Official Bank Holidays in January 2022

We all need to do cash transactions at banks in our day-to-day life. But before going to do cash transactions, it is better to know about banks working status. As per official gazette notification issued by RBI there are 9 bank holidays(Excluding Weekends) but these 9 holidays varies from state to state. According to theContinue reading “Official Bank Holidays in January 2022”

Big Relief To Debit Card Holders! RBI Extends “Tokenisation” System To July 1st,2022

Upon repeated requests from banks to upgrade their systems for “Tokenisation”, Finally RBI agreed to extend the due course to June30th,2022. This was the 2ndtime to extend this “Tokenisation”system which was earlier proposed to implement from June1st,2021 and later to January1st,2022. But due to technical glitches in the systems upon banks request it was furtherContinue reading “Big Relief To Debit Card Holders! RBI Extends “Tokenisation” System To July 1st,2022″

Are You Withdrawing Cash From ATM Terminals Frequently? Hold On! You May Be Charged Higher Fee Above The Minimum Withdrawal Limit

To Reduce Rush in banks, Banks appoints ATM Terminals at all major locations. People also tend to use them frequently for their daily cash needs! But from January 2022 onwards, Usage of ATM Terminals becomes more costlier. Reserve Bank of India(RBI)has approved all the banks to hike service charges to 21 Rupees+GST. This charge isContinue reading “Are You Withdrawing Cash From ATM Terminals Frequently? Hold On! You May Be Charged Higher Fee Above The Minimum Withdrawal Limit”

RBI Has Launched A New Initiative “Integrated Ombudsman Scheme” To Lodge Grievances Online

Till Now, If any bank customer is dissatisfied wiith their respective bank service, they can lodge complaint to Ombudsman for further action. Likewise for NBFC’s(Non-Banking Financial Corporations)and for digital payments grievances there are seperate ombudsman entities till now. But from now-on-wards, the process has been changed! The customer can lodge complaint on any of theContinue reading “RBI Has Launched A New Initiative “Integrated Ombudsman Scheme” To Lodge Grievances Online”

As a Caution of RBI Interest Rate Hike, Kotak Mahindra Bank Increases its Home Loan Lending Rate

There is news circulating in the media that RBI(Reserve Bank of India)is going to hike interest rates. If Repo and Reverse Repo Rates are going to hike, then automatically Banks have to increase its lending rates As a matter of precaution, One of the India’s largest private sector bank, Kotak Mahindra Bank is going toContinue reading “As a Caution of RBI Interest Rate Hike, Kotak Mahindra Bank Increases its Home Loan Lending Rate”

Latest Housing Loan Interest Rates of Various Banks

In the recent times, Housing loan interest rates are declining which is a good news to home loan borrowers. As RBI keeps REPO and Reverse Repo Rate stable from the past few quarters, banks are coming forward to give home loans at competitive prices. For Viewers sake, bankinfo.in site is providing latest housing loan interestContinue reading “Latest Housing Loan Interest Rates of Various Banks”

PNB Follows The Trend Of Lowering Interest Rates on Home and Personal Loans

Following the decision to link home loans to Repo Rate , Banks are in rush to reduce interest rates on home loans. Recently SBI, Bank of Baroda slashed the interest rates and now it’s the turn of Punjab National Bank(PNB) What is “Repo Rate”? Repo Rate is the rate at which RBI lends to theContinue reading “PNB Follows The Trend Of Lowering Interest Rates on Home and Personal Loans”