Latest news with #FixedDeposit
Zawya
7 days ago
- Business
- Zawya
Belong: Fintech platform offers NRIs safe & easy investment options in India
USD-based FDs with higher returns, shorter tenures, no Rupee depreciation risks, doorstep KYC, 100% repatriation and no tax on the returns. Belong also launches a transparent and seamless Indian tax filing service for NRIs. Dubai, UAE: Belong, a new fintech platform for global Indians to invest safely and easily in India, is now available for non-resident Indians (NRI) in the UAE. Licensed by IFSCA - regulator of GIFT City, India, Belong offers a US Dollar-based Fixed Deposit (FD) starting at just USD 5,000 (AED 18,365), with high returns. Ankur Choudhary, CEO and Co-Founder, Belong, said: 'Our vision is simple: to make it easier for Indians to thrive globally while staying connected to India. Every NRI has built a global identity through hard work and ambition, but financial and non-financial services in India haven't kept up. At Belong, with GIFT City FDs, NRIs get more flexibility in choosing shorter tenures and they are also protected against Rupee depreciation while enjoying tax free returns in dollars.' Belong users in the UAE do not need to route funds through their NRE or NRO accounts, and the earnings are fully repatriable to UAE with minimal paperwork. As these FDs are in USD, investors are also protected from INR value fluctuations against the US Dollar. GIFT City is not under Indian tax jurisdiction, and all earnings on Belong are fully tax-free in India. The deposits also offer flexible lock-in periods of 3-months and 6-months, compared to a minimum 1-year lock-in for FCNR deposits. 'NRIs experience challenges when investing in India, such as complex and in-country KYC, high currency conversion charges, taxation on all Indian earnings, difficulty in repatriation of funds, and more. Belong set out to tackle these on behalf of NRIs, and GIFT City regulations work perfectly for the NRIs who still want to contribute and benefit from the India growth story', added Choudhary. Belong is offering these FDs in partnership with reputed Indian banks located in the Gujarat International Finance Tec-City (GIFT City), India's up-and-coming global financial services hub, similar to Singapore. Offered to NRIs mostly via Indian banks until now, FDs have long been a popular investment option in India. The Reserve Bank of India has recorded INR 103 trillion (approximately US$ 1.2 trillion) held in FDs as of 2024. While Belong offers USD Fixed Deposits at launch, the platform will soon add other financial products such as mutual funds, stocks, insurance, cards and more, which will offer NRIs more rewarding investment and transaction options in India. Alongside the USD-based FD service, Belong has also launched a dedicated India tax filing service for NRIs without the typical 'NRI markup' pricing. NRIs are usually charged higher, non-standardised rates for most services in India. Belong aims to change that by offering transparent and cost-effective NRI taxation services 'NRIs have long been underserved when it comes to modern, digital-first financial solutions tailored to their unique needs," said Vaas Bhaskar, Partner, Elevation Capital. "Belong is uniquely positioned to serve this massive, underserved market by combining deep fintech expertise with GIFT City's regulatory framework. We're excited to back this exceptional team as they scale across key markets and build the go-to platform for everything India that global Indians need.' Belong aims to become the financial and lifestyle bridge for global Indians - helping NRIs stay connected, invested, and rooted in India, no matter where life takes them. Belong already has a suite of NRI-specific digital tools to help NRIs make informed financial decisions. About Belong Founded in 2024, Belong is India's first fintech app designed exclusively for NRIs. Built to simplify cross-border investing and financial management, Belong operates through GIFT City, India's International Financial services centre. Belong is powered by Betafront Technologies Pvt Ltd and its subsidiaries, Betafront Financial Services (IFSC) Private Limited, which holds a Payment Services Provider (PSP) license and Betafront Securities(IFSC) Private Limited, which holds the Broker Dealer license issued by the International Financial Services Centres Authority (IFSCA). The company is the brainchild of fintech veterans Ankur Choudhary, Sai Sankar M, Ayush Singh and Savitri Bobde, committed to building trusted, transparent financial solutions for the Indian diaspora worldwide.
The Print
06-06-2025
- Business
- The Print
How Rajasthan bank employee ‘duped' 41 villagers of Rs 4.5 cr over 3 yrs, to fuel ‘stock trading addiction'
This meant her activities stayed under the radar as customers didn't receive OTPs for withdrawals and the strategy kept working until it didn't. If it hadn't been for a customer trying to withdraw his money from a fixed deposit account in February, Gupta might have been able to go on. Her luck ran out when the bank manager launched an inquiry into the matter and submitted a police complaint on 18 February, attaching an inquiry report that said money had been taken out of 41 bank accounts. Gupta was arrested on 31 May. Between 2020 and 2023, Gupta is accused of having siphoned off a staggering Rs 4.58 crore from 110 bank accounts under the User FD (Fixed Deposit) scheme, turning a position of trust into a tool of deception. She used this money to keep investing in the stock market, where she incurred heavy losses repeatedly. But she didn't stop. Investigators from the Rajasthan Police attribute her actions to an alleged addiction to stock market trading. However, the gamble failed as she kept losing money, derailing her original plan to return the money to the fixed deposits. 'She has said during interrogation that she wanted to be rich quickly. Her knowledge of finance and banking helped her. She kept investing the money from FDs knowing that someone breaking FDs would be a lesser risk for her as people invest for longer periods of time,' a senior police officer told ThePrint. As per her LinkedIn profile, the 26-year-old has been working for ICICI Bank for nearly six years, since October 2019. She completed her graduation in Chemistry from Delhi University in 2018 and then got a post graduate degree in banking and finance from the Manipal Academy of Higher Education. This was her first job. Officers say that the losses didn't dissuade Gupta. 'She kept taking out more and more money in the hope that she would get it all back and end up being rich,' the officer added. Senior police officers said that in the past, Gupta had also invested Rs 90 lakh, taken from her father and relatives, and invested it in the share market. Here too, she lost all the money. Investigators said that the 26-year-old devised a strategy to make trading accounts in the name of the villagers, whose money she siphoned out. 'With her exercising full control on their deposits and the OTP system, she kept doing it without anyone getting a whiff about it,' another officer said. During the probe, sources said that all account holders were questioned and her name cropped up as the connecting link. The police zeroed in on her after they accessed the systems of all employees. 'We found the saved data on her system and then took her devices to check. Investigation directed all fingers at her and she confessed to the crime during interrogation,' a senior police officer said. She is a native of Chittorgarh, and lives in Kota after her marriage. Her husband works at the HDFC bank. So far, police say, the probe doesn't suggest that the husband was aware of his wife's 'illegal' activities. An ICICI Bank spokesperson said, 'The interest of our customers is of paramount importance to us. Immediately upon discovering the fraudulent activity, we filed an FIR with the police. We have a zero-tolerance policy against any fraudulent activity and thus suspended the employee involved. We would like to reassure that genuine claims of impacted customers have been settled.' (Edited by Viny Mishra)
Mint
20-05-2025
- Business
- Mint
Fixed deposit interest rates vs inflation: Are FDs still a good investment?
Fixed deposits have long been a preferred choice for Indian savers seeking safety, assured returns, and peace of mind. With fixed interest rates and guaranteed maturity payouts, FDs offer a solid financial foundation—especially for those who prefer risk-free options. But with inflation on the rise in recent years, many are wondering: Are FDs still worth it? The short answer is yes—especially when you choose high-return options like the Bajaj Finance Fixed Deposit, which now offers interest rates of up to 7.95% p.a. for senior citizens and up to 7.40% p.a. for non-senior citizens. Here's how you can still beat inflation with the right FD strategy. A fixed deposit (FD) allows you to invest a lump sum for a fixed tenure at a predetermined interest rate. Offered by banks and NBFCs like Bajaj Finance, it provides guaranteed returns—either monthly or at maturity. Safety of capital Assured returns, unaffected by market fluctuations Flexible tenures from 12 to 60 months with Bajaj Finance FD Choice between monthly payouts or lump sum on maturity Easy online booking in minutes Bajaj Finance Fixed Deposit has the highest AAA ratings from CRISIL and ICRA, ensuring top-tier safety for your investment. Inflation refers to the rising cost of living—if inflation is at 6% and your FD earns just 5%, your actual purchasing power declines. That's why it's crucial to choose FDs that offer returns above the inflation rate. With Bajaj Finance FD, you can earn: Up to 7.95% p.a. if you're a senior citizen if you're a senior citizen Up to 7.40% p.a. for other investors This puts your FD returns well above India's current average inflation rate—helping you grow your wealth in real terms. A simple way to plan better is by using the FD calculator monthly interest tool available on the Bajaj Finserv website and app. Just enter your investment amount, tenure, and select payout mode to view your estimated earnings. Whether you're planning for retirement, saving for a goal, or seeking a steady income, this tool helps you make informed, data-driven decisions. Here are some strategies to maximise returns and outpace inflation: Bajaj Finance FD currently offers market-leading interest rates, including limited-period high-return options. Why settle for less? Choose cumulative FDs to reinvest interest and enjoy the power of compounding. It's ideal if you don't need regular payouts. Senior investors (60+) earn up to 7.95% p.a. with Bajaj Finance FD—perfect for monthly income or secure wealth creation post-retirement. Check FD Rates and plan your investment now! Inflation and interest rates are dynamic. Keep track of both and make timely decisions—break and reinvest FDs when the rates are high, and avoid long-term lock-ins during low-rate periods. While FDs offer capital protection, here are a few complementary options if you're looking to diversify: Debt mutual funds – moderate risk, market-linked – moderate risk, market-linked Government schemes – like PPF or SCSS – like PPF or SCSS Balanced funds – equity + debt exposure – equity + debt exposure Inflation-indexed bonds – directly linked to inflation Each of these carries different levels of risk and liquidity. Choose based on your financial goals and comfort with market movements. Fixed deposits remain a reliable and secure way to save and grow money—especially when you invest with a trusted name like Bajaj Finance. With high interest rates of up to 7.95% p.a., strong credit ratings, and flexible options, Bajaj Finance Fixed Deposit helps you stay ahead of inflation without taking unnecessary risks. Note to readers: This article is part of Mint's paid consumer connect Initiative. Mint assumes no editorial involvement or responsibility for errors, omissions, or content accuracy. Want to get your story featured as above? click here!
Business Standard
25-04-2025
- Business
- Business Standard
Worried About Market Volatility? Lock in Shriram Unnati FD's High Rates While You Still Can
NewsVoir Mumbai (Maharashtra) [India], April 25: While President Trump's 90-day tariff pause has come as a welcome respite for volatile equity markets, the fact that there continues to be policy uncertainty will mean that business investment is likely to be sluggish in the near-future. This increasing economic uncertainty is also why the Reserve Bank of India (RBI) changed its monetary policy stance from 'neutral' to 'accommodative' when it announced a 25 basis points cut in the repo rate to 6.00% earlier this month. This represents a significant shift in the RBI's outlook - an accommodative stance effectively means that rate hikes are off the table for now and leaves room for further rate cuts if inflation stays under control. For Indian investors, this changing economic and policy environment is a signal to urgently rethink their asset allocation strategy, leaning more heavily towards the stability of fixed-return instruments. With global trade tensions still unresolved and India's economic growth still under pressure, the likelihood of further monetary easing by the RBI looms large. This means that interest rates, especially on Fixed Deposits (FDs), may trend downward in the coming months. Many banks and financial institutions have already lowered their deposit rates following the recent repo rate cut. This presents a narrow window of opportunity for discerning investors to lock in higher returns with the few institutions that are yet to revise their rates downward. The Smart Investor's Response to Upcoming FD Rate Cuts In times of market volatility and economic uncertainty, experienced investors know the value of predictability. FDs offer stability and predictable returns, making them a smart choice when equity markets are choppy and interest rates are on the way down. Shriram Unnati Fixed Deposit, in particular, stand out by offering some of the highest interest rates in the market today. For investors seeking stability without compromising on returns amidst the market fluctuations, this is an ideal moment to take advantage of the current high interest rates. Prospective investors are, therefore, encouraged to lock in Shriram FD's high interest rates now to optimise their investment outcomes. This move can help mitigate the impact of future FD rate cut. Key Benefits of Investing in Shriram Unnati Fixed Deposit For those seeking a reliable investment option to navigate market volatility, Shriram Unnati Fixed Deposit offers a compelling set of benefits that cater to diverse financial needs and help maximise savings. Here are some of the key advantages: - Predictable Returns: Shriram FD offers competitive interest rates, providing stability and predictability in uncertain financial environments. Customers can enjoy high interest rates up to 9.40%* p.a., inclusive of 0.50%* p.a. for senior citizens and 0.10%* p.a. for women depositors. - Flexible Term Options: Investors can choose tenure options ranging from 12 to 60 months, allowing them to tailor their investments according to specific financial goals and risk tolerance. - Multiple Interest Payout Options: Shriram FD offers diverse interest payout options--monthly, quarterly, half-yearly, yearly, and on maturity--enabling investors to manage cash flows effectively. - Low Minimum Investment: Investors can begin their wealth creation with a minimum deposit amount of Rs5,000. - High Credit Ratings: Shriram Finance is highly rated, with credit ratings of "[ICRA]AA+ (Stable)" by ICRA and "IND AA+/Stable" by India Ratings and Research, ensuring reliability for investors. - Intuitive Digital Platform: The company offers a smooth customer experience through its seamless and user-friendly digital platform, facilitating easy management of the FD online. Conclusion Navigating market volatility in these turbulent times requires prudent investment choices. Shriram Unnati Fixed Deposit provides a reliable pathway to predictable returns and financial stability, helping investors build a reliable financial future despite market volatilities. By choosing Shriram FD, investors can make a strategic move towards maximising savings and achieving their long-term financial goals with confidence. Shriram Finance is a leading diversified financial services company in India, offering a wide range of financial products and services across consumer, wholesale, and business finance segments. The company has a strong presence pan India with a network of 3,196 branches and an employee strength of 79,405 with an AUM of Rs. 254,469 crores. With a focus on financial inclusion and customer-centricity, Shriram Finance continues to empower individuals and businesses to achieve their financial goals. With regards to deposit-taking activity of Shriram Finance Limited ('SFL'), viewers may refer to detailed information and T & C provided in our application form available at The Company is having a valid Certificate of Registration dated 31st January 2023 issued by the Bank under section 45-IA of the RBI Act. However, the Reserve Bank of India does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits/discharge of the liabilities by the company. Please note that Shriram Fixed Deposit does not carry the insurance cover provided by the Deposit Insurance and Credit Guarantee Corporation of India (DICGC). Investors are advised to carefully consider their financial situation before making an investment decision. Please refer to the detailed terms and conditions provided by Shriram Finance for a comprehensive understanding of the product.
Fashion Value Chain
25-04-2025
- Business
- Fashion Value Chain
Worried About Market Volatility Lock in Shriram Unnati FD's High Rates While You Still Can
While President Trump's 90-day tariff pause has come as a welcome respite for volatile equity markets, the fact that there continues to be policy uncertainty will mean that business investment is likely to be sluggish in the near-future. This increasing economic uncertainty is also why the Reserve Bank of India (RBI) changed its monetary policy stance from 'neutral' to 'accommodative' when it announced a 25 basis points cut in the repo rate to 6.00% earlier this month. This represents a significant shift in the RBI's outlook – an accommodative stance effectively means that rate hikes are off the table for now and leaves room for further rate cuts if inflation stays under control. Choose Shriram FD for High Returns, Beat Market Volatility For Indian investors, this changing economic and policy environment is a signal to urgently rethink their asset allocation strategy, leaning more heavily towards the stability of fixed-return instruments. With global trade tensions still unresolved and India's economic growth still under pressure, the likelihood of further monetary easing by the RBI looms large. This means that interest rates, especially on Fixed Deposits (FDs), may trend downward in the coming months. Many banks and financial institutions have already lowered their deposit rates following the recent repo rate cut. This presents a narrow window of opportunity for discerning investors to lock in higher returns with the few institutions that are yet to revise their rates downward. The Smart Investors Response to Upcoming FD Rate Cuts In times of market volatility and economic uncertainty, experienced investors know the value of predictability. FDs offer stability and predictable returns, making them a smart choice when equity markets are choppy and interest rates are on the way down. Shriram Unnati Fixed Deposit, in particular, stand out by offering some of the highest interest rates in the market today. For investors seeking stability without compromising on returns amidst the market fluctuations, this is an ideal moment to take advantage of the current high interest rates. Prospective investors are, therefore, encouraged to lock in Shriram FD's high interest rates now to optimise their investment outcomes. This move can help mitigate the impact of future FD rate cut. Key Benefits of Investing in Shriram Unnati Fixed Deposit For those seeking a reliable investment option to navigate market volatility, Shriram Unnati Fixed Deposit offers a compelling set of benefits that cater to diverse financial needs and help maximise savings. Here are some of the key advantages: Predictable Returns: Shriram FD offers competitive interest rates, providing stability and predictability in uncertain financial environments. Customers can enjoy high interest rates up to 9.40%* p.a., inclusive of 0.50%* p.a. for senior citizens and 0.10%* p.a. for women depositors. Flexible Term Options: Investors can choose tenure options ranging from 12 to 60 months, allowing them to tailor their investments according to specific financial goals and risk tolerance. Multiple Interest Payout Options: Shriram FD offers diverse interest payout options-monthly, quarterly, half-yearly, yearly, and on maturity-enabling investors to manage cash flows effectively. Low Minimum Investment: Investors can begin their wealth creation with a minimum deposit amount of â¹5,000. High Credit Ratings: Shriram Finance is highly rated, with credit ratings of '[ICRA]AA+ (Stable)' by ICRA and 'IND AA+/Stable' by India Ratings and Research, ensuring reliability for investors. Intuitive Digital Platform: The company offers a smooth customer experience through its seamless and user-friendly digital platform, facilitating easy management of the FD online. Conclusion Navigating market volatility in these turbulent times requires prudent investment choices. Shriram Unnati Fixed Deposit provides a reliable pathway to predictable returns and financial stability, helping investors build a reliable financial future despite market volatilities. By choosing Shriram FD, investors can make a strategic move towards maximising savings and achieving their long-term financial goals with confidence. About Shriram Finance Shriram Finance is a leading diversified financial services company in India, offering a wide range of financial products and services across consumer, wholesale, and business finance segments. The company has a strong presence pan India with a network of 3,196 branches and an employee strength of 79,405 with an AUM of Rs. 254,469 crores. With a focus on financial inclusion and customer-centricity, Shriram Finance continues to empower individuals and businesses to achieve their financial goals. Disclaimer: With regards to deposit-taking activity of Shriram Finance Limited ('SFL'), viewers may refer to detailed information and T&C provided in our application form available at The Company is having a valid Certificate of Registration dated 31st January 2023 issued by the Bank under section 45-IA of the RBI Act. However, the Reserve Bank of India does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits/discharge of the liabilities by the company. Please note that Shriram Fixed Deposit does not carry the insurance cover provided by the Deposit Insurance and Credit Guarantee Corporation of India (DICGC). Investors are advised to carefully consider their financial situation before making an investment decision. Please refer to the detailed terms and conditions provided by Shriram Finance for a comprehensive understanding of the product.
