Sunday, July 29, 2012

NRE Fixed Deposit/Term Deposit Rate in India

NRE Term/Fixed Deposit Rate in India as of July 2012


City Union Bank (CUB) 10 1 year
Lakshmi Vilas Bank 9.8 1 year to less than 2 years
State Bank of Patiala 9.75 555 days
Karnataka Bank 9.75 1 year and above to less than 2 years
Development Credit Bank 9.75 18 months
Dhanalakshmi Bank 9.75 500 days
Yes Bank 9.6 15 Months 15 days to 16 Months
Allahabad Bank 9.5 1 year to less than 2 years
State Bank of Hyderabad 9.5 SBH-500 (Special Deposit Product)
Indian Bank 9.5 1 year and above but less than 2 years
Indus Ind Bank 9.5 400 days
State Bank of Mysore 9.5 1 year to less than 2 years
ING Vysya Bank 9.5 One Year
Tamilnad Mercantile Bank 9.5 1 year to less than 2 years
Bharat Co-operative Bank 9.5 12 Months
Kotak Bank 9.4 390 days
Vijaya Bank 9.3 1 year to less than 2 years
Syndicate Bank 9.3 1 year
ICICI Bank 9.25 390 days to less than 2 years
Bank of Maharashtra 9.25 1 year to Less than 2 years
Axis Bank 9.25 1 year to less than 13 months
Oriental Bank of Commerce 9.25 1 year to less than 2 years
South Indian Bank 9.25 1 year
United Bank of India 9.25 1 year to less than 2 years
Indian Overseas Bank 9.25 1 year to less than 2 years
Dena Bank 9.25 1 year
Corporation Bank 9.25 12 months only
Standard Chartered Bank 9.25 376 days to 390 day
Bank of India 9.25 1 year to less than 2 years
IDBI Bank 9.25 500 days
Federal Bank 9.25 1 year only
UCO Bank 9.1 1 year to less than 2 years
Central Bank of India 9 1 year to less than 2 years
State Bank of Travancore 9 1 year to less than 2 years
Canara Bank 9 1 year and above to less than 2 years
Citi Bank 8.75 365 days to 400 days
Punjab National Bank 8.75 1 year
Bank of Baroda 8.75 1 year and upto 443 days
HSBC 8 18 months to less than 24 months

Tuesday, April 3, 2012

Retirement with 1 crore

After a long back... Finally I come back to blogging.... Sorry got a little bit of Wrestlemania fever.

 Planning for the retirement is one of the important step for every individual. When you plan for your future, you have to consider the yearly inflation rate. My best guess is you have to consider atleast 6% as a inflation rate. As I already said in Power of Compounding, one should start investing early for his/her retirement. Say for example Ramesh age is 25. He wants to retire at the age of 50 with 1 crore as corpus.

To accumulate 1 crore in 25 years seems to be tough. But if he systematically invest in the best performing mutual funds he can accumulate more than one crore. Ramesh start investing Rs.10,000 every month in any of the 5 to 10  top performing diversified mutual funds for next 25 years with 12% as his annualised return, he would accumulate 1 crore at the end of his 50th age. If the mutual fund returns 15% annualised return, then he would retire with 1 crore and 50 lakhs in hand at his age of 50.

 When choosing the SIP, one no need to investigate much about the details of the mutual funds and its performance. Evaluation for every 3 years would be enough for such a long term investment. Try to pick atleast 5 to 10 top performing funds, because if 1 fund fails the other funds would help to balance your annualised return.  So start invest in any top 5 star rated mutual funds today and retire as a Crorepathi.

Be patience and reap the benefits