Sundaram Finance hikes interest rates

From 1st March, Sundaram Finance will pay senior citizens 10% for two and three year deposits

Sundaram Finance has increased its interest rates. From 1st March, the company will pay senior citizens 10% for two and three year deposits (currently 9.25% and 9.50%) and 9.75% (9%) on one year deposits. For others, it will be 9.50% for two and three year deposits and 9.25% on one year deposits.

The existing Sundaram Finance FD holders will not be able to avail the above revised interest rates.

ICICI Bank has also increased its fixed deposit rates by up to 0.5%. The special deposit schemes of ICICI Bank will now pay interest of 9.25% each on 590 days, 790 days and 990 days.

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SBI Mutual Fund floats Debt Fund Series 180 Days 16

SBI Mutual Fund new issue closes on 3rd March

SBI Mutual Fund has launched SBI Debt Fund Series 180 Days 16, a close-ended income scheme.

The investment objective of the scheme is to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments such as government securities, AAA/AA+ bonds and money market instruments maturing on or before the maturity of the scheme.

The new issue opens on closes on 3rd March. The minimum investment amount is Rs5,000.

CRISIL Liquid Fund Index is the benchmark index. Rajeev Radhakrishnan is the fund manager.

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Religare Mutual Fund introduces 13 months fixed maturity plan

Religare Mutual Fund new issue closes on 7th March

Religare Mutual Fund has launched Religare Fixed Maturity Plan-Series VI-Plan A to F-Plan A (13 Months), a close-ended income scheme.

The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments maturing on or before the date of maturity of the scheme.

The new issue opens on 28th February and closes on 7th March. The minimum investment amount is Rs5,000.

CRISIL Short-Term Bond Fund Index is the benchmark index. Nitish Sikand is the fund manger for the scheme.

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