Customers of State Bank of India YONO can get life insurance instantly by following a few simple steps. Customers of the State Bank of India can now get life insurance up to RRs 40 lakh to protect their loved ones under the State Bank of India life insurance scheme.
SBI Life – Sampoorn Suraksha is a pure risk premium life insurance product for formal and informal groups that is non-linked and non-participating. It offers a comprehensive insurance benefits package that can be tailored to your specific requirements. There are many different types of riders and other optional benefits available. For accidental death, sickness, permanent disability, or critical illness, there are eight riders available for accelerated or additional coverage.
How to avail of SBI Instant Life Cover via Yono?
Customers of State Bank of India can get SBI Instant Life Cover through the Yono App.
Step 1: Download the Yono app
Step 2: Enter relevant details
Step 3: Log in to SBI Yono using MPIN
step 4: Click on My Account and select the Insurance icon
Step 5: Click the “Buy a Policy” section
Step 6: Choose SBI Life – Sampoorn Suraksha
Step 7: Click on I Accept after reading all the terms and conditions
Step 8: Go through all the key features and benefits, sum insured
Step 9: Get A Quote
Step 10: Choose your premium plan
Step 11: Enter your details and nominee details such as SOB, relationship
Step 12: Select the account and tick the check box
While the transaction via e-wallets and UPI transactions have increased manifold in the current times when there are restrictions in respect of withdrawal from same bank ATM and there are fee charges and people prefer to go cashless. There are some implications of these e-wallet or UPI transactions that you need to have an understanding of. So, now as there is reporting of salary income, income from other sources, capital gains etc. in the income tax return (ITR) filing, likewise for funds received via UPI or e-wallets also need to be put forth while tax filing.
UPI and e-wallets also attract tax implications that such funds transacted through these modes also are taxable under the Income Tax rules. Here, note that the maximum permissible limit is Rs. 1 lakh and any amount over and above this shall attract tax implications or will be subject to tax.
Now why there is an increasing use of e-wallets and UPI?
Can be accessed from anywhere and anytime, all you need is an internet connection and then an additional reason because of which people flock this mode for receiving or sending funds is because they occasionally also provide cashbacks on some of the select transactions.
Furthermore, all the steps involved in net banking and other modes are easily avoided and all one needs here is an unique Id.
Now cashback amount if over Rs. 50000 in a financial year is also taxable as per the Income Tax Act under section 56(2).
Circumstances in which UPI transaction is taxable
In a case when the employers gives a gift voucher of over Rs. 5000 then there is charged tax on it as per Income tax rule 3(7) (iv). Also other vouchers got from family or friends in a financial year worth over Rs. 50000 are also taxable income from other sources.
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Now as we are here talking about the two NCD options that are on offer. We’ll first go into the basics of NCD which are issued by corporate or NBFC firm for raising finances and against them investors get a fixed coupon rate which can be received at intervals. These NCDs can be secured or unsecured in nature, meaning to say may be or may not be backed by the company.
Muthoot Fincorp Or Muthoot Finance:Which NCD To Invest In?
So currently we have Muthoot’s Finance and Muthoot Fincorp’s NCDs that are open for public subscription. Here we are comparing the two and may probably reach on to know as to which can meet your financial goals.
Attributes
Muthoot Fincorp
Muthoot Finance
Issue details
April 7- April 29
April 8- April 29
Type of NCDs
Both secured and unsecured
Secured
Yield
8.57-10.20% for unsecured returns are from 9.92-10.2 percent
6.60% to 8.25% per annum.
Issue size
Rs. 400 crore
Rs. 1700 crore
Rating
CRISIL A+ ( Carry low credit risk, but not as safe as AAA rated instruments)
AA+ ( Over time risk can emanate for the company from may be defaults on gold loan if prices show sharp correction)
Liquidity
Hard as the Indian bond market does not offer that much liquidity
Minimum application size
Rs. 10000 with each NCD carrying a face value of Rs. 1000
Rs. 10000 with each NCD carrying a face value of Rs 1000
Taxation
Interest is taxed as per the investors’ slab rate
Interest is taxed as per the investors’ slab rate
But these investments should primarily be opted by investors who can afford to take some risk at the cost of higher return. Also the investment needs to be parked in for a comparably shorter timeframe as the interest rate can then head higher. By and large these investments are not for senior citizens who are concerned on regular income source and should focus on liquidity and safety aspect of the investment.
So, investors going in for either of the two investments need to acknowledge the risk factor which comes inherent in these NCDs.
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As amid the pandemic, the use of e-wallets expanded and now to make it more easier for users, the RBI in its first MPC decision announced that the maximum end of day balance can be now Rs. 2 lakh as against Rs. 1 lakh earlier.
Now Paytm, India Post, Airtel Payment Banks Users Can Keep Up To Rs. 2 Lakh In Their Wallets
So, now in payment banks or e-wallet that allow only deposits and do not provide loans, customers can now maintain a maximum of Rs. 2 lakh. These wallets can be Paytm, India Post Payments Bank, PayWorld Money and Airtel Payments Bank among others.
For it the RBI statement on Wednesday said this is done to “promote optimal utilisation of payment instruments like cards, wallets as infrastructures such as PoS devices, ATM, QR codes, and bill-payment touchpoints are still scarce.” Also, this facility of enhancing the outstanding limit in such pre-paid instruments can be availed if there is migration to full-KYC.
The move will enable to expand payments banks as well help in their financial inclusion and this way will be able to cater to small traders, merchants and MSMEs alike.
Now notably, said this increase in PPI full KYC limit to Rs. 2 lakh will help in the migration to complete KYC. At the same time, wallet customers will be able to withdraw money from any nearby cash POS or ATM instead of having any bank account for withdrawing cash.
“This will enable a deep-rooted penetration of payment wallets into India’s vast rural areas as well as increase the adoption of digital payments as the wallet holder, now, has the option of withdrawal – which was hitherto unavailable”, said Ketan Doshi, managing director at PayPoint India.
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Cash withdrawals from a post office account has been restricted to only four transactions, according to the most recent India Post update. If you make more than four withdrawals, you will be charged 0.05 percent of the balance on each transaction that exceeds the cap. India Post recently declared that the withdrawal cap at Post Office GDS (Gramin Dak Seva) branches will be increased in order to deliver comfort to Post Office Savings account holders. Thus the withdrawal cap per person has been increased from Rs 5,000 to Rs 10,000. In her recent tweet Sitharaman said that “Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn.” Which means that the post office savings account will continue to fetch an interest rate of 4% for the quarter ending in June 2021.
Cash Deposit, Withdrawal Rules For Post Office Savings Account Holders (w.e.f. April 1, 2021)
After the most recent update the withdrawal cap at Post Office GDS (Gramin Dak Seva) Branches has been increased from Rs 5,000 to Rs 20,000.
A branch postmaster (BPM) will not approve a cash deposit transaction in an account exceeding more than Rs 50,000 in a single day. Furthermore, until the Public Provident Fund (PPF), Senior Citizen Savings Scheme (SCSS), Monthly Income Scheme (MIS), Kisan Vikas Patra (KVP), National Savings Certificate (NSC) schemes are made accessible in the RICT CBS App, deposits in these accounts can only be made using a withdrawal form or a cheque.
If presented at a Core Banking enabled (CBS) Post Office, all PosB cheques released by any CBS Post office will be considered as at par cheques and will not be released for clearing.
In a single day, no cash transactions of more than Rs 50,000 are permitted at other SOLs in an account.
The minimum required amount to maintain a savings account at a post office is Rs 500, and if the minimum cap is not fulfilled, an account maintenance charge of Rs 100 will be deducted from the account.
No charges are applicable for withdrawing cash from a basic savings account up to four times per month. Following that, each transaction will incur a fee of Rs 25 or 0.50 percent of the total amount withdrawn. When depositing cash, however, you will not be charged any fee. You can deposit any amount without incurring any additional fees.
Withdrawing Rs 25,000 monthly from a savings or current account will incur no charges. Following that, each withdrawal will be subject to a minimum fee of Rs 25 or 0.5 percent of the total amount withdrawn. There is no fee if you make a cash deposit of up to Rs 10,000 in a month. A deposit of more than that amount, however, will charge a fee of minimum of Rs 25 in a post office savings account deposit.
You will also be charged a fee for using the Aadhaar Enabled Payment System. Although IPPB (India Post Payment Banks) networks offer unlimited free transactions, non-IPPB networks only offer three free transactions every month. This covers cash deposits, withdrawals, and mini statements. After the free cap in AePS has been reached, each transaction will require a fee. All transactions will cost Rs 20 if you deposit cash after the cap has been reached. Withdrawing cash also incurs a fee of Rs 20. You must pay Rs 5 to get a mini statement as well.
If funds are transferred after the cap has been reached, a fee of 1% of the transaction amount, with a minimum of Rs 1 and a maximum of Rs 20 will be charged. These fees will be subject to GST and Cess.
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WASHINGTON: The Democratic chair of the US Senate Banking Committee has written to several large banks, including Credit Suisse and Japan’s Nomura, asking them for information on their relationship with New York-based Archegos Capital Management after the fund imploded last month.
Senator Sherrod Brown asked the bank’s chiefs to detail how their institutions came to do business with Archegos, a family office run by ex-Tiger Asia manager Bill Hwang. Archegos’ soured leveraged bets on media stocks have left the fund and banks that financed its trades nursing billions of dollars in losses.
In addition to Credit Suisse and Nomura, which lost $4.7 billion and $2 billion, respectively, Brown sent the letters to Goldman Sachs and Morgan Stanley which did not lose money on the trades, Reuters and other media outlets have reported.
Representatives of banks declined to comment or did not immediately respond to a request for comment.
The letters signal that the fallout from the Archegos meltdown is spreading in Washington, where policymakers are already mulling new rules on nonbanks and how traditional banks may be exposed to their risks.
“I am troubled, but not surprised, by the news reports that Archegos entered into risky derivatives transactions facilitated by major investment banks,” Brown wrote in the letters.
“The massive transactions, and losses, raise several questions regarding [the banks’] relationship with Archegos and the treatment of so-called ‘family offices,’ Mr. Hwang’s history, and the transactions.”
Brown pressed for details on how banks do business with “family offices,” lightly regulated funds that manage individuals’ and families’ personal fortunes, the services provided to them by the banks, and how the banks decide on the amount of credit to extend.
He also quizzed the lenders on whether bank supervisors or bank risk committees signed off on their dealings with Archegos, given Hwang had previously been punished by the US Securities and Exchange Commission for alleged insider trading.
AU Small Finance Bank has updated the interest rates on its fixed deposit. From April 1, 2021, the new FD rates are in force. For general depositors, AU Small Finance Bank provides interest rates on FDs maturing in 7 days to 10 years ranging from 3.5 per cent to 6.5 per cent. AU Small Finance Bank proposes a 3.50 percent interest rate for a maturity period of seven days to one month and fifteen days. The bank pays 4.00 percent interest on FDs maturing in one month (16 days to 3 months). Deposits maturing in three months, one day to six months, and six months, one day to twelve months will provide 4.75 and 5.25 percent interest, respectively. AU Small Finance Bank provides 6.35 percent interest on deposits maturing in one year, one day to 15 months. Deposits with a maturity period of 15 months and one day to 18 months provide an interest rate of 6.25 per cent. AU Small Finance Bank provides a 6.25 percent interest rate on 18-month 1 day to 24-month FDs. An interest of 6.50 percent on FDs maturing in two years one day and three years is provided by the bank. Deposits with a maturity period of 36 Months 1 Day to 45 Months and 45 Months 1 Day to 60 Months will now fetch an interest rate of 6.25%. AU Small Finance Bank pays 6.50 percent interest on long-term term deposits with a maturity period of 5 years 1 day to ten years for a deposit amount of below Rs 2 Cr.
Tenure
Regular FD Rates
7 Days to 1 Month 15 Days
3.50%
1 Month 16 Days to 3 Months
4.00%
3 Months 1 Day to 6 Months
4.75%
6 Months 1 Day to 12 Months
5.25%
12 Months 1 Day to 15 Months
6.35%
15 Months 1 Day to 18 Months
6.25%
18 Months 1 Day to 24 Months
6.25%
24 Months 1 Day to 36 Months
6.50%
36 Months 1 Day to 45 Months
6.25%
45 Months 1 Day to 60 Months
6.25%
60 Months 1 Day to 120 Months
6.50%
AU Small Finance Bank Senior Citizen FD Rates
On FDs maturing in 7 days to 10 years, senior citizens get an additional 50 basis points. These deposits have interest rates ranging from 4.00 percent to7.00 percent. The highest interest rate of 7.00 percent, is offered by AU Small Finance Bank on FDs maturing in 24 Months 1 Day to 36 Months and 60 Months 1 Day to 120 Months for a deposit amount of below Rs 2 Cr respectively.
Tenure
Senior Citizen FD Rates
7 Days to 1 Month 15 Days
4.00%
1 Month 16 Days to 3 Months
4.50%
3 Months 1 Day to 6 Months
5.25%
6 Months 1 Day to 12 Months
5.75%
12 Months 1 Day to 15 Months
6.85%
15 Months 1 Day to 18 Months
6.75%
18 Months 1 Day to 24 Months
6.75%
24 Months 1 Day to 36 Months
7.00%
36 Months 1 Day to 45 Months
6.75%
45 Months 1 Day to 60 Months
6.75%
60 Months 1 Day to 120 Months
7.00%
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Jana Small Finance Bank FDs offer interest rates ranging from 2.5 percent to 7.51 percent for normal citizens and 3 percent to 8.01 percent for senior citizens for terms ranging from 7 days to 10 years. Furthermore, senior citizens get an additional 0.5 percent return on their deposits. The highest FD rate for a regular investor is 7.51 percent for a period of 1188 days to 1191 days. The senior citizen FD rate is 8.01 percent for the same tenure provided by the bank. The Jana Small Finance Bank FD rates listed below are effective from March 26, 2021.
Tenure
Regular FD Rates
Senior Citizen FD Rates
7-14 days
2.50%
3.00%
15-60 days
3.00%
3.50%
61-90 days
3.75%
4.25%
91-180 days
4.50%
5.00%
181-364 days
6.00%
6.50%
1 Year[365 Days]
6.75%
7.25%
366 – 730 Days
7.00%
7.50%
731 – 1095 Days
7.00%
7.50%
1096 – 1187 Days
7.25%
7.75%
[1188 Days – 1191 Days
7.51%
8.01%
1192 Days – 1824 Days
7.25%
7.75%
5 Years [1825 Days]
7.00%
7.50%
> 1826 – 3660 Days
6.50%
7.00%
Suryoday Small Finance Bank
The Suryoday Bank FD rate varies from 4% to 7.25 % for general customers and 4.5 % to 7.75 % for senior citizens, based on the maturity period. The bank offers the highest interest rate on deposits maturing in five years. These deposits will offer 7.25 percent and 7.75 percent interest to the general public and senior citizens, respectively. Suryoday Bank’s most recent FD interest rates are in effect from 15 February 2021.
Tenure
Regular FD Rates
Senior Citizen FD Rates
7 days to 14 days
4.00%
4.50%
15 days to 45 days
4.00%
4.50%
46 days to 90 days
5.00%
5.50%
91 days to 6 months
5.50%
6.00%
Above 6 months to 9 months
6.00%
6.50%
Above 9 months to less than 1 Year
6.25%
6.75%
1 Year to 2 years
6.75%
7.25%
Above 2 Years to 3 Years
7.00%
7.50%
Above 3 Years to less than 5 Years
7.10%
7.60%
5 Years
7.25%
7.75%
Above 5 years to 10 years
6.50%
7.00%
Equitas Small Finance Bank
Equitas Small Finance Bank offers 3.60 percent and 3.65 percent interest on FDs maturing in 7 to 29 days and 30 – 45 days, respectively. 4.15 percent for 46-90 days and 4.90 percent for 91-180 days. The bank offers 5.4 percent interest on term deposits maturing in 181-364 days. Equitas Bank offers 6.4 percent on FDs maturing in one to two years. 6.65 percent for deposits from 2 years and 1 day to 887 days. The bank’s highest interest rate on domestic fixed deposits for the general public is 6.80 percent for a term of 888 days. FDs maturing in 889 days to 3 years will grant a 6.65 percent interest rate. The Equitas Small Finance Bank FD rates mentioned below are in force from 25th January 2021.
Tenure
Regular FD Rates
Senior Citizen FD Rates
7 – 14 days
3.60%
4.10%
15 – 29 days
3.60%
4.10%
30 – 45 days
3.65%
4.15%
46 – 62 days
4.15%
4.55%
63 – 90 days
4.15%
5.55%
91 – 120 days
4.90%
5.40%
121 – 180 days
4.90%
5.40%
181 – 210 days
5.40%
5.90%
211 – 270 days
5.40%
5.90%
271 – 364 days
5.40%
5.90%
1 year to 18 months
6.50%
7.00%
18 months 1 day to 2 years
6.40%
6.90%
2 years 1 day to 887 days
6.65%
7.15%
888 days
6.80%
7.30%
889 days to 3 years
6.65%
7.15%
3 years 1 day to 4 years
6.40%
6.90%
4 years 1 day to 5 years
6.40%
6.90%
5 years 1 day to 10 years
6.65%
7.15%
Yes Bank
Yes Bank offers fixed deposit schemes with terms ranging from 7 days to 10 years. Following the most recent revision, Yes Bank now proposes an interest rate of 3.50 percent on deposits maturing in seven to fourteen days, 4 percent on deposits maturing in 15 to 45 days, and 4.5 percent on FDs maturing in 46 to 90 days. Yes Bank offers 5%, 5.50%, and 6% on term deposits maturing in 3 months to less than 6 months and 6 months to less than 9 months, respectively. The bank offers a 5.75 percent interest rate on FDs for a term ranging from 9 months to less than 1 year. Yes Bank offers both regular and senior citizens a special interest rate on FDs maturing in one year to ten years. Term deposits maturing in one year or less than two years will provide a 6.25 percent interest rate and 6.50 percent for deposit maturing in 2 to 3 years. For deposits maturing in 3 to 10 years the interest rate is kept at 6.75 percent respectively. These rates are in force from 8th February 2021.
Tenure
Regular FD Rates
Senior Citizen FD Rates
7 to 14 days
3.50%
4.00%
15 to 45 days
4.00%
4.50%
46 to 90 days
4.50%
5.00%
3 months to < 6 months
5.00%
5.50%
6 months to < 9 months
5.50%
6.00%
9 months to < 1 Year
5.75%
6.25%
1 year < 2 years
6.25%
6.75%
2 years < 3 years
6.50%
7.00%
3 Years to <= 10 years
6.75%
7.50%
Ujjivan Small Finance Bank
Ujjivan Small Finance Bank offers interest rates of 3.05 percent, 4.05 percent, and 4.80 percent for terms of 7-29 days, 30-89 days, and 90-179 days, respectively. The bank pays 5.20 percent interest on deposits maturing in 180 to 364 days. Small Finance Bank pays 6.5 percent interest on deposits maturing in one to two years. The bank offers the highest rate of 6.75 percent on deposits maturing in 2 Years and 1 Day to 3 Years to 3 Years and 1 Day to 5 Years. These rates are in force from 5th March 2021.
Tenure
Regular FD Rates
Senior Citizen FD Rates
7 Days to 29 Days
3.05%
3.55%
30 Days to 89 Days
4.05%
4.55%
90 Days to 179 Days
4.80%
5.30%
180 Days to 364 Days
5.20%
5.70%
1 Year to 2 Years
6.50%
7.00%
2 Years and 1 Day to 3 years
6.75%
7.25%
3 Years and 1 Day to 5 Years
6.75%
7.25%
5 Years and 1 Day to 10 Years
5.80%
6.30%
DCB Bank
For regular citizens, DCB Bank fixed deposit interest rates vary from 4.725 percent to 6.75 percent. DCB fixed deposit rates for senior citizens vary from 4.75 percent to 7.25 percent. The tenure ranges from 7 days to 10 years. DCB Bank’s highest fixed deposit interest rate is 6.75 percent for a regular investor with a term of 5-10 years. The senior citizen FD rate of interest is 7.25 percent for the same term. These rates are effective from 5th February 2021.
Tenure
Regular FD Rates
Senior Citizen FD Rates
7 days to 14 days
4.25%
4.75%
15 days to 45 days
4.80%
5.30%
46 days to 90 days
4.75%
5.25%
91 days to less than 6 months
5.50%
6.00%
6 months to less than 12 months
5.95%
6.45%
12 months to less than 15 months
6.05%
6.55%
15 months to less than 18 months
6.35%
6.85%
18 months to less than 700 days
6.50%
7.00%
700 days
6.70%
7.20%
More than 700 days to less than 36 months
6.50%
7.00%
36 months
6.75%
7.25%
More than 36 months to 60 months
6.75%
7.25%
RBL Bank
For deposits with a maturity period of 7 days to 20 years, RBL Bank offers interest rates ranging from 3.25% to 6 percent per annum (p.a.). RBL Bank pays 3.25 percent on deposits that mature in 7-14 days, 4.00 percent on deposits that mature in 15-45 days, and 4.50 percent on deposits that mature in 46-90 days. 5.00 percent interest is paid on FDs that mature in 91 days to 180 days, and 5.25 percent interest is paid on deposits that mature in 180 days to 240 days. On maturity between 241 and 364 days, RBL Bank offers a 5.50 percent interest rate. These rates are w.e.f April 12, 2021.
Tenure
Regular FD Rates
Senior Citizen FD Rates
7 days to 14 days
3.25%
3.75%
15 days to 45 days
4.00%
4.50%
46 days to 90 days
4.50%
5.00%
91 days to 180 days
5.00%
5.50%
181 days to 240 days
5.25%
5.75%
241 days to 364 days
5.50%
6.00%
12 months to less than 24 months
6.25%
6.75%
24 months to less than 36 months
6.25%
6.75%
36 months to less than 60 months
6.40%
6.90%
60 months to 60 months 1 day
6.60%
7.10%
60 months 2 days to less than 120 months
6.00%
6.50%
120 months to 240 months
6.00%
6.50%
Tax Savings Fixed Deposit (60 months)
6.60%
7.10%
IndusInd Bank
IndusInd Bank provides 3.00 percent on deposits maturing in 7 to 30 days, 3.40 percent on deposits maturing in 30 to 45 days, 3.75 percent on deposits maturing in 46 to 60 days, and 4.00 percent on deposits maturing in 61 to 90 days. FDs maturing in 91 days to 120 days will yield 4.25 percent, while those maturing in 121 days to 180 days will provide 4.5%, and those maturing in 181 days to 210 days will fetch 5.25 percent. IndusInd Bank offers a 5.5 percent interest rate on FDs maturing in 211 days to 269 days, and a 5.75 percent interest rate on FDs maturing in 270 days or less than a year. These rates are in force from December 30th, 2020.
Tenure
Regular FD Rates in %
Senior Citizen FD Rates in %
7 days to 14 days
3
3.5
15 days to 30 days
3
3.5
31 days to 45 days
3.4
3.9
46 days to 60 days
3.75
4.25
61 days to 90 days
4
4.5
91 days to 120 days
4.25
4.75
121 days to 180 days
4.5
5
181 days to 210 days
5.25
5.75
211 days to 269 days
5.5
6
270 days or below 1 year
5.75
6.25
1 Year to 1 Year 2 Days
6.5
7
1 Year 3 Days to 1 Year 2 Months
6.5
7
Above 1 Year 2 Months to below 1 Year 6 Months
6.5
7
1 Year 6 Months to below 1 Year 7 Months
6.5
7
1 Year 7 Months to below 2 Years
6.5
7
2 years to below 2 years 6 Months
6.5
7
2 years 6 months to below 2 years 9 Months
6.5
7
2 years 9 months to below 3 years
6.5
7
3 years to below 61 months
6.5
7
61 months and above
6.25
6.75
Indus Tax Saver Scheme (5 years)
6.5
7
AU Small Finance Bank
For general depositors, AU Small Finance Bank provides interest rates ranging from 3.50 percent to 6.50 percent on FDs maturing in 7 days to 10 years. AU Small Finance Bank proposes a 3.5 percent interest rate on maturities ranging from seven days to one month and fifteen days. The bank pays 4.00 percent interest on FDs maturing in one month (16 days to 3 months). Deposits maturing in three months, one day to six months, and six months, one day to twelve months will earn 4.75 percent and 5.25 percent interest, respectively. These rates are in force from April 1 2021.
Tenure
Regular FD Rates
Senior Citizen FD Rates
7 Days to 1 Month 15 Days
3.50%
4.00%
1 Month 16 Days to 3 Months
4.00%
4.50%
3 Months 1 Day to 6 Months
4.75%
5.25%
6 Months 1 Day to 12 Months
5.25%
5.75%
12 Months 1 Day to 15 Months
6.35%
6.85%
15 Months 1 Day to 18 Months
6.25%
6.75%
18 Months 1 Day to 24 Months
6.25%
6.75%
24 Months 1 Day to 36 Months
6.50%
7.00%
36 Months 1 Day to 45 Months
6.25%
6.75%
45 Months 1 Day to 60 Months
6.25%
6.75%
60 Months 1 Day to 120 Months
6.50%
7.00%
Fincare Small Finance Bank
Fincare Small Finance Bank provides term deposits with interest rates varying from 3.25% to 5.5% for the general public and 3.70 percent to 6.00 percent for senior citizens, with terms ranging from 7 days to 7 years. Fincare Small Finance Bank pays 5% interest on deposits that mature in less than a year. For 12 months to 18 months, 6 percent, 18 months to 21 months 6.25%, 21 months to 24 months 6.25 percent, and 24 months to 30 months 6.50 percent. For deposits maturing in 36 months, 1 day to 42 months, Fincare Small Finance Bank offers the maximum interest rate of 6.75%. These rates are in effect from April 1, 2021.
This joint initiative aims at encouraging users of SBI’s banking and lifestyle platform YONO to opt for UPI payments. Apart from this, the campaign will also help in educating them about UPI’s benefits so that there are more and more UPI users in the ecosystem.
Ravindra Pandey, Strategy & Chief Digital Officer, SBI said, “UPI has been witnessing a strong month-on-month growth which is a testament of customers’ willingness to adopt digital payments. In this FY, the YONO platform recorded 5.30 million transactions worth Rs. 2086 crore. UPI is currently one of the most preferred digital payment modes in India with around 207 banks linked to it and SBI was leading the segment with 664.75 million transactions, as of January 2021.”
YONO has observed 34 lakh UPI registrations since its inception in 2017, with over 62.5 lakh transactions worth more than Rs. 2,520 crore at current daily average of nearly 27,000 transactions (in last 30 days).
Praveena Rai, COO, NPCI said, “We are pleased to partner with SBI to strengthen the digital payments ecosystem by promoting UPI awareness among YONO users. Customers just need to know their UPI ID and use it so they can enjoy the convenience of making or receiving payment from their YONO app to any other bank or payment app.”
After the end of each fiscal year, specified individuals are required to file an ITR. To facilitate prompt filing of returns, the Income Tax Department has set a deadline by which an individual can file a return without incurring late fees. This last date is referred to as the ITR filing deadline or due date. The ITR filing deadline differs based on the type of assessee i.e. HUF, firm, LLP, company, trust, individual etc, and whether or not an audit is required. Individuals and entities who must conduct audit generally have a later date than people who fill out ITR without audit. Taxpayers in India must conform with the Indian government’s proposed tax-related compliance. Non-compliance with set deadlines of income tax-related laws may result in the government enforcing strict penalties. Hence, all Income Tax related compliances for FY 2021-22 are listed below.
April 2021
14th April 2021: Deadline for the issue of TDS Certificate for tax deducted under sections 194-IA, 194IB, and 194M in the month of February 2021.
15th April 2021: Due date for a stock exchange to file a Form 3BB declaration for transactions in which client codes were changed after engaging in the system for the month of March 21.
15th April 2021: Quarterly statement in Form No. 15CC regarding foreign remittances for the quarter ending March 2021.
30th April 2021: Due date for the challan-cum-statement for tax withheld under sections 194-IA, 194IB, and 194M on March 21.
30th April 2021: Due date for submitting declarations received from recipients in Form 15G/15H for the quarter of March 2021.
30th April 2021: For the month of March 2021, the deadline for depositing tax withheld by an assessee other than a government office.
30th April 2021: Due date for electronic filing of a declaration in Form No. 61 bearing details of Form No. 60 received between October 1, 2020, and March 31, 2021.
30th April 2021: Deadline for deposit of TDS for the quarter March 21 when the Assessing Officer has allowed quarterly deposit of TDS under sections 192, 194A, 194D, or 194H.
May 2021
7th May 2021: TDS payment for the month of April
15th May 2021: Due date for the issue of TDS Certificate for tax deducted under sections 194-IA, 194IB, and 194M for in March 2021.
15th May 2021: Due date for an office of the government to submit Form 24G if TDS/TCS for the month of April 2021 were paid without the issuance of a challan.
15th May 2021: Due date for a stock exchange to file a Form 3BB declaration for transactions in which client codes were changed after engaging in the system for April 2021.
15th May 2021: TCS deposited quarterly statement for the quarter ended March 31, 2021
30th May 2021: Non-residents with a liaison office in India must file a declaration by this date (in Form No. 49C) for the fiscal year 2020-21.
30th May 2021: Due date for the challan-cum-statement for tax withheld under sections 194-IA, 194IB, and 194M on April 2021.
30th May 2021: TCS certificates will be issued for the fourth quarter of the fiscal year 2020-21.
31st May 2021: TDS deposited for the quarter ended March 31, 2021.
31st May 2021: Due date for filing a declaration of financial transactions (in Form No. 61A) as prescribed under sub-section (1) of section 285BA of the Act in respect of the fiscal year 2020-21.
31st May 2021: Due date for reporting financial institutions to e-file the annual statement of reportable accounts required to be furnished under section 285BA(1)(k) (in Form No. 61B) for calendar year 2020.
June 2021
7th June 2021: Payment of TDS for the month of May 2021
14th June 2021: Deadline for the issue of TDS Certificate for tax deducted under sections 194-IA, 194IB, and 194M in the month of April 2021.
15th June 2021: Quarterly TDS certificates for tax withheld on non-salary payments for the month ended March 31, 2021.
15th June 2021: Advance tax payment for the quarter of April-June 21
15th June 2021: Due date for an office of the government to submit Form 24G if TDS/TCS for the month of May 2021 were paid without the issuance of a challan.
15th June 2021: Due date for a stock exchange to file a Form 3BB declaration for transactions in which client codes were changed after engaging in the system for May 2021.
30th June 2021: Due date for the challan-cum-statement for tax withheld under sections 194-IA, 194IB, and 194M on May 2021.
30th June 2021: Quarterly return of a banking company’s non-deduction of tax at source from interest on time deposits for the quarter March 2021.
30th June 2021: Due date to file DPT 3 form for companies
30th June 2021: Quarterly TCS certificate for the quarter of June 30, 2021.
July 2021
7th July 2021: TDS payment for the month of June
14th July 2021: Deadline for the issue TDS Certificate for tax deducted under sections 194-IA, 194IB, and 194M in the month of June 2021.
15th July 2021: TCS Payment for the quarter April-June 2021
30th July 2021: Quarterly TCS certificate for the quarter ending June 2021.
31st July 2021: TDS filing for the quarter ending June 30, 2021
31st July 2021: Income Tax Returns for Individuals and Non-Corporates who are not subject to a tax audit for the AY 2021-22.
31st July 2021: Due date for the challan-cum-statement for tax withheld under sections 194-IA, 194IB, and 194M on June 21.
August 2021
7th August 2021: TDS Payment for the month of July 2021
14th August 2021: Deadline for the issue of TDS Certificate for tax deducted under sections 194-IA, 194IB, and 194M in the month of July 2021.
15th August 2021: Quarterly TDS certificate (other than salary) for the quarter ending June 30,2021
31st August 2021: Due date for the challan-cum-statement for tax withheld under sections 194-IA, 194IB, and 194M on July 2021.
September 2021
7th September 2021: TDS payment for the month of August 2021
14th September 2021: Deadline for the issue of TDS Certificate for tax deducted under sections 194-IA, 194IB, and 194M in the month of August 2021.
15th September 2021: Payment of advance tax for July to Sep 2021
30th September 2021: Due date for the challan-cum-statement for tax withheld under sections 194-IA, 194IB, and 194M on August 2021.
30th September 2021: Audit report for in the case of an assessee who has not entered into an international or specified domestic transaction during the fiscal year 2021-22.
October 2021
7th October 2021: TDS payment for the month of September 2021
14th October 2021: Deadline for the issue of TDS Certificate for tax deducted under sections 194-IA, 194IB, and 194M in the month of September 2021.
30th October 2021: Due date for the challan-cum-statement for tax withheld under sections 194-IA, 194IB, and 194M on Sept 2021.
30th October 2021: Quarterly TCS certificate for the quarter ending September 2021
30th October 2021: Statement of TDS for the quarter ended September 30, 2021
31st October 2021: Audit report for in the case of an assessee who has not entered into an international or specified domestic transaction during the fiscal year 2021-22.
31st October 2021: TDS filing for the JULY-SEP 2021
November 2021
7th November 2021: TDS payment for the month of October 2021
14th November 2021: Deadline for the issue of TDS Certificate for tax deducted under sections 194-IA, 194IB, and 194M in the month of October 2021.
15th November 2021: Quarterly TDS certificate (other than salary) for the quarter ending September 2021.
30th November 2021: Audit report for in the case of an assessee who has not entered into an international or specified domestic transaction during the fiscal year 2021-22.
30th November 2021: Due date for the challan-cum-statement for tax withheld under sections 194-IA, 194IB, and 194M on Oct 2021.
December 2021
7th December 2021: TDS Payment for the month of November 2021
14th December 2021: Due date for issue of TDS certificate for tax withheld under sections 194-IA, 194IB, and 194M on Nov 2021.
15th December 2021: Advance tax Payment for the quarter ending December 2021
31st December 2021: Due date for the challan-cum-statement for tax withheld under sections 194-IA, 194IB, and 194M on Nov 2021.
31st December 2021: Belated / Revised ITR for AY 2021-22 for all assesses except corporate assesses, non-corporate assesses who are required to have their accounts audited, and assesses who have entered into an international or listed domestic transaction.
January 2022
7th January 2022: TDS payment for the month of December 2021
14th January 2022: Due date for issue of TDS certificate for tax withheld under sections 194-IA, 194IB, and 194M on Dec 2021.
January 15, 2022: TCS Payment for the quarter of Oct-December 2021
31st January 2022: Due date for the challan-cum-statement for tax withheld under sections 194-IA, 194IB, and 194M on Dec 2021.
31st January 2022: Quarterly TCS certificate for the quarter of Oct-December 2021
31st January 2022: Quarterly statement of TDS deposited for the quarter Oct-December 2021
February 2022
7th February 2022: TDS payment for the month of January 2022
14th February 2022: Due date for issue of TDS certificate for tax withheld under sections 194-IA, 194IB, and 194M on Jan 2022.
15th February 2022: Quarterly TDS certificate (other than salary) for the quarter of Oct-December 2021
28th February 2022: Due date for the challan-cum-statement for tax withheld under sections 194-IA, 194IB, and 194M on Jan 2022.
March 2022
7th March 2022: TDS payment for the month of February 2022
14th March 2022: Due date for issue of TDS certificate for tax withheld under sections 194-IA, 194IB, and 194M on Feb 2022.
15th March 2022: Advance Tax Payment for the quarter of January-March 2022
31st March 2022: Due date for the challan-cum-statement for tax withheld under sections 194-IA, 194IB, and 194M on Feb 2022.
31st March 2022: Due date for filing belated/revised ITR for AY 2021-22.
31st March 2022: Quarterly declarations of TDS/TCS paid for Q1 & Q2 of FY 2020-21
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