Banking

Class action lawsuit filed against Silicon Valley Bank's parent company

The lawsuit from shareholders led by Chandra Vanipenta says some quarterly and annual financial reports from SVB didn't fully account for warnings from the Federal Reserve about interest rate hikes

DBS Bank India aims to expand gold and MSME loan business; details here

DBS Bank India has presently a strong presence in the Indian market, and benefits from the network's expansion across sectors like gold loans, have begun to emerge

SBI revises interest rate on savings accounts, check latest rates here

The move comes after SBI hiked its term deposit interest rate across all tenors. The bank is offering 3 to 5.85 per cent interest on term deposits to the general public

This government bank offers over 7% on fixed deposits; check rates here

Furthermore, for FDs with a tenure of 5 years and above to 10 years, the interest rate is 7 percent for the general public and 7.5 percent for senior citizens

HDFC extends Senior Citizen Care FD scheme till March 2023, details here

Senior citizens will receive a rate of 6.50 percent, which is an increase of 75 basis points over the regular rate under the bank's Senior Citizen Care FD

Unity Bank introduces special FD scheme with lucrative interest rate; details here

Recently, the interest rates on callable and non-callable bulk deposits (deposits greater than Rs. 2 crores) were also changed at Unity Bank

DBS Bank revises its savings account interest rates; details here

DBS Bank is offering an interest rate of 3.25 percent for savings up to Rs 1 lakh. For balances between Rs 1 lakh and Rs 2 lakh, an interest rate of 3.5 percent is on offer

Applying for a home loan? Here's a step by step guide to the procedure

The bank scrutinises the documents submitted by the applicant like their proof of income, ability to pay back the loan, identity proof and more. A background check is also done to verify the applicant’s details

Kotak Mahindra Bank revises fixed deposit interest rates; check latest rates here

As per Kotak Mahindra Bank’s website, you can open a fixed deposit with a minimum of Rs 5,000. Furthermore, for FDs with tenure below 181 days, the interest will be calculate as simple interest

ICICI Bank hikes fixed deposit interest rates on these tenures; check list here

It must be kept in mind that the interest rate on fixed term deposits is different for senior citizens. Furthermore, these rates are subject to change without prior notice