Diabytes
Term deposits News
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The new rate on deposits of above 3 years to 5 years is 6.5 percent and for resident Indian senior citizens, it is 7.15 percent.
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The revenue department on Wednesday asked taxpayers to file correct details of interest received from term deposits for the assessment year 2014-15 on or before March 31, while filing their Income Tax returns (ITRs).
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The government on Tuesday cut rates on short-term post office deposits by 0.25 percent but left long-term instruments such as MIS, PPF, senior citizen and girl child schemes untouched.
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The bank has reduced base rate to 9.90 percent from 10 percent.
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Oriental Bank of Commerce (OBC) has reduced interest on term deposits by 25 basis points on select maturities with effect from July 27.
The new rates, which is for term deposits less than Rs 1 crore, will come to effect from December 9, 2014, the bank said.
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