Small Finance Banks Pay Up To 9.5% Interest On Fixed Deposit: Maturity Period, Deposit Limit And Other Details

Small Finance Banks Pay Up To 9.5% Interest On Fixed Deposit: Maturity Period, Deposit Limit And Other Details

FD interest rate: Small finance banks pay an annual return of up to 9.5% on deposits below Rs. 1 crore

Small finance banks – which are banks aimed primarily at financial inclusion – pay interest rates in a range of 3.5-9.5 per cent on FDs or fixed deposits of up to Rs. 1 crore. These lenders, such as Equitas Small Finance Bank, AU Small Finance Bank, Suryoday Bank, Jana Small Finance Bank, Fincare Small Finance Bank, ESAF Small Finance Bank and Utkarsh Small Finance Bank, provide a variety of maturity periods, from as short as seven days to as long as 10 years. In contrast to market-linked instruments such as equity or mutual funds, FDs provide a fixed return over a pre-defined maturity period, known as term or lock-in. Financial planners often suggest fixed deposit for investors with a low risk appetite.

Here’s a comparison of interest rates paid by these small finance banks on fixed deposits of up to Rs. 1 crore:

Equitas Small Finance Bank

Maturity period (term) Interest rate with effect from July 5, 2018
7 – 14 days 5.00%
15 – 29 days 5.50%
30 – 45 days 6.00%
46 – 62 days 6.25%
63 – 90 days 6.25%
91 – 120 days 6.50%
121 – 180 days 6.50%
181 – 210 days 6.75%
211 – 270 days 6.75%
271 – 364 days 7.50%
1 year to 18 months 8.00%
18 months 1 day to 2 years 7.75%
2 years 1 day to 3 years 7.75%
3 years 1 day to 4 years 7.00%
4 years 1 day to 5 years 7.00%
5 years 1 day to 10 years 7.00%
(Source: equitasbank.com)

AU Small Finance Bank

Maturity period (term) Interest rate with effect from October 10, 2018
General Senior citizen
7 Days to 1 Month 15 Days 5.50% 6.00%
1 Month 16 Days to 3 Months 6.75% 7.25%
3 Months 1 Day to 6 Months 6.90% 7.40%
6 Months 1 Day  to 13 Months 7.00% 7.50%
13 Months 1 Day to 18 Months 8.25% 8.75%
18 Months 1 Day to 24 Months 8.50% 9.00%
24 Months 1 Day to 36 Months 7.75% 8.25%
36 Months 1 Day to 45 Months 7.75% 8.25%
45 Months 1 Day to 60 Months 8.00% 8.50%
60 Months 1 Day to 120 Months 7.25% 7.75%
(Source: aubank.in)

Suryoday Bank

Maturity period (term) Interest rate with effect from September 29, 2018
General Senior citizen
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 180 days 5.50% 6.00%
181 days to 240 days 7.50% 8.00%
241 days to less than 1 Year 7.75% 8.25%
1 Year to 2 Years 8.50% 9.00%
Above 2 Years to 3 Years 8.75% 9.25%
950 Days* 9.00% 9.50%
Above 3 Years to less than 5 Years 8.00% 8.50%
5 Years 8.25% 8.75%
Above 5 Years to 10 Years 7.25% 7.75%
Source: suryodaybank.com)

Jana Small Finance Bank

Maturity period (term) Interest rate with effect from October 17, 2018
7 days to 45 days 6.00%
46 days to 60 days 6.50%
61 days to 180 days 7.00%
181 days to 365 days 8.00%
More than 1 year up to 2 years 8.25%
More than 2 years up to 3 years 8.50%
More than 3 years up to 5 years 8.00%
More than 5 years up to 10 years 7.00%
(Source: janabank.com)

Fincare Small Finance Bank

Maturity period (term) Interest rate
General Senior citizen
7 days to 45 days 4.00% 4.50%
46 days to 90 days 4.00% 4.50%
91 days to 180 days 6.00% 6.50%
181 days to 364 days 7.00% 7.50%
12 months to 15 months 8.00% 8.50%
15 months 1 day to 18 months 8.25% 8.75%
18 months 1 day to 21 months 8.50% 9.00%
21 months 1 day to 24 months 8.75% 9.25%
24 months 1 day to 36 months 9.00% 9.50%
3 years 1 day to 5 years 8.00% 8.50%
5 years 1 day to 7 years 7% 7.50%
(Source: fincarebank.com)

ESAF Small Finance Bank

Maturity period (term) Interest rate with effect from April 1, 2018
General Senior citizen
7 – 14 days 5.75% 6.25%
15 – 59 days 5.75% 6.25%
60 – 90 days 6.50% 7.00%
91 – 179 days 6.75% 7.25%
180 – 363 days 7.50% 8.00%
364 days 5.60% 6.10%
365 – 727 days 8.75% 9.25%
728 days 6.80% 7.30%
729 – 1091 days 8.00% 8.50%
1092 days 5.66% 6.16%
1093 – 1819 days 7.00% 7.50%
1820 days 5.65% 6.15%
1821 – 3652 days 7.00% 7.50%
(Source: esafbank.com)

Utkarsh Small Finance Bank

Maturity period (term) Interest rate with effect from September 27, 2018
General Senior citizen
7 Days to 15 days 3.50% 4.00%
16 Days to 28 Days 3.50% 4.00%
29 Days to 45 Days 4.00% 4.50%
46 Days to 90 Days 4.50% 5.00%
91 Days to 120 Days 5.00% 5.50%
121 Days to 179 Days 5.50% 6.00%
180 Days to 210 Days 6.00% 6.50%
211 Days to 270 Days 7.00% 7.50%
271 Days to less than 1 Year 7.50% 8.00%
1 Year to 455 Days 8.50% 9.00%
456 Days to less than 2 years 9.00% 9.50%
2 Years to less than 3 Years 7.85% 8.35%
3 Years to less than 5 Years 7.00% 7.50%
5 Years 8.00% 8.50%
More than 5 Years to 10 Years 7.00% 7.50%
(Source: utkarsh.bank)

Across many maturities, small finance banks pay higher interest rates on FDs compared to their larger counterparts.

[“source=cnbc”]

HP Spectre x360 13 (2018) hands on: ‘Whiskey Lake’ power sits alongside 22 hours of battery life

HP Spectre x360 13

HP Spectre x360 13
Mark Hachman / IDG
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HP’s flagship HP Spectre x360 13 convertible laptop has previously won PCWorld’s Editor’s Choice award on the strength of its frequent, substantive improvements. Its 2018 update offers even more: incredible battery life (22.5 hours!), a new Intel “Whiskey Lake” processor, eSIM LTE, and even a webcam “kill switch.”

What you’ll immediately notice, though, is a faceted chassis design that angles the corners and offsets the power connections and USB-C port. On the side of the chassis is also a small red switch that electrically disables the webcam, actually removing the driver from Windows.

HP debuted two versions of the Spectre x360 13 in 2017, and what was noteworthy about the excellent late 2017 Spectre x360 13 was its leap to an 8th-gen, quad-core part. Intel still calls its latest quad-core “Whiskey Lake” chip an 8th-gen processor too, but there’s less of an emphasis on performance. HP believes you’ll see a boost of about 13 percent in 3DMark performance from the previous x360 generation, but a whopping 37-percent increase in battery life to a rated 22.5 hours. In part, that’s because the new Spectre x360 uses a 1-watt display panel that still manages to pump out a maximum of 400 nits of luminosity.

HP Spectre x360 13

Mark Hachman / IDG

HP designed its Spectre x360 for your professionals, with battery life among its primary characteristics.

HP Spectre x360 13 (2018) prices, features and specs

  • Display: 13.3-inch (3840×2160) WLED;13.3-inch (1920×1080) WLED with either HP SureView privacy protection or HP BrightView; protected by Corning Gorilla Glass NBT
  • CPU: 1.6GHz Core i5-8265U; 1.8GHz Core i7-8565U (“Whiskey Lake”)
  • GPU: Intel HD 620
  • Memory: 8GB-16GB, DDR4
  • Storage: 256GB-512GB SSD
  • Ports: 1 USB-A, 2 USB-C (Thunderbolt, fast charging), mic/headphones
  • Wireless: dual eSIM LTE support, gigabit WiFi
  • Security: IR camera; fingerprint reader
  • Battery: 60Wh
  • Chassis: CNC-machined aluminum in either “Dark Ash Silver/Copper Luxe Accents” or “Poseidon Blue/Pale Brass Accents”
  • Dimensions: Exact dimensions are unknown, but it’s 14mm thin and 2.9 pounds—slightly thicker and heavier than the previous generation.
  • Optional accessories: Ink Certified Pen (included); HP Spectre Tilt rechargeable Pen; HP Spectre Rechargeable Mouse 700
  • Operating system: Windows 10 Home
  • Price: Beginning at $1,150
  • Shipping: December (Best Buy)

Hands on with the HP Spectre x360 13

(Editor’s note: Our hands-on was conducted at an HP event which showed off a new HP Spectre 15 x360 as well, emphasizing performance rather than battery life.)

Under the dim lights of a recent HP launch event, it was difficult to distinguish between the new Dark Ash Silver and Poseidon Blue colors. But the accent metals used on the corners gleam. And speaking of the corners—they’re gone. Well, sort of. On each of the rear corners, HP has angled the corners to include a power button on one side and a Thunderbolt-enabled USB-C connector on the other. Because the new x360 is USB-C powered, that means that the power cord can be attached at a convenient angle, or connected via the side of the Spectre, using the other port.

HP Spectre x360 13

Mark Hachman / IDG

HP widened its speaker grille and reshaped it to give it a geometric bent.

Honestly, the new faceted design is a bit gratuitous, as a USB-C slot at the side or rear of the notebook is just fine. But HP has always tried to make its products visually distinctive, and it’s a stylistic flourish that you’ll instantly identify with the Spectre line.

HP Spectre x360 13

Mark Hachman / IDG

The rear corners have been squared off to give the Spectre laptops this “faceted” look. On the right side of the Spectre x360 13, there’s a pair of USB-C ports (with Thunderbolt), the headphone jack, and the new webcam kill switch.

Held in the hand, the Spectre x360 (2018) was both bright and light. The display can blast  out up to 400 nits, even with the new 1-watt panel technology—a huge deal, and one of the most important announcements to come out of Computex this year. The new, ultra-efficient panel minimizes one of the most power-hungry components within a PC. Even though the battery remains unchanged from the Spectre x360 (2017) at 60Wh, HP executives described the reduction in panel power as one of the key enablers of its massive increase in battery life—pushing into the territory carved out by Qualcomm Snapdragon chips, but with a traditional x86 architecture.

To our eyes, the Spectre x360 13’s new display appeared both bright and color-accurate. You also have the option of buying a SureView-equipped panel, which helps reduce visibility to viewers to your left and right, preserving privacy. HP also said it trimmed the bezel size by just under 6 percent, the majority at the bottom of the screen.

Power plays a role in other changes, as well. The Spectre x360 13 (2018) includes an improved thermal architecture, which adds a bit of thickness and weight—it’s about a millimeter thicker, and 0.05 lb heavier. At 2.9 pounds, the Spectre x360 felt sturdy, but not overly heavy.

HP Spectre x360 13 pen

Mark Hachman / IDG

HP’s pen ships with the Spectre x360 13.

HP has also included a “Performance HP Command Center” app that offers three modes: performance, cool, and quiet. We weren’t able to tell how the different modes affected performance and battery life, but the “quiet” mode runs the fan at minimum speed or turns it off entirely, if possible. (Because the demo room was pretty loud, we weren’t able to accurately judge its effects.)

Three other details distinguish the Spectre x360 13 (2018) from its predecessor, the 2017 model. First, there’s a wider, “micro-drilled speaker grille,” which allows what HP calls better acoustic transparency from the traditional Bang & Olufsen-certified speakers. What we’d expect from this would be a louder, clearer sound, but we didn’t have a chance to compare one generation to the other.

HP Spectre x360 13

Mark Hachman / IDG

The fingerprint reader has been returned to its traditional position on the palm rest.

Enhancements to privacy, security

The second feature is a novel take on webcam privacy: a “kill switch” that appears on the right side of the Spectre x360 13 (2018). When flipped on, the laptop’s webcam is electrically switched off. That’s no joke: If you go to into the Windows Task Manager while flipping the “kill switch” to on, the webcam driver actually disappears from the driver list, like so:

Is this a better solution than the physical ThinkShutter on the Lenovo ThinkPad Carbon (6th Gen), or the wacky pop-up webcam of the Huawei Matebook Pro X? We’ll have to test it to be sure. (It seems that all three solutions leave the mic enabled unless you manually disable it.) There’s also an IR camera for biometric logins.

Finally, what the side of the Spectre doesn’t have anymore is a fingerprint sensor. With the 2017 Spectre x360 generation, HP argued that the side-mounted sensor facilitated logging into the laptop in whichever mode it was in: a laptop configuration, tent mode, or folded back. HP now puts the fingerprint sensor where most other laptop makers place it: on the palm rest, which makes more sense.

Granted, we couldn’t test a number of features in just the short time we were able to examine the Spectre x360 13, not the least of which include the new chip inside of it. Choice features like dual eSIM should allow always-on connectivity both at home and abroad, and the new gigabit Wi-Fi capabilities should speed downloads dramatically—provided you have a compatible router or access point.

As for the flagship feature, battery life: Based on our tests of the HP Spectre x360 (2017), it seems that our tests usually confirm about 80 percent of HP’s claimed battery life. That would put HP’s eye-popping claim of 22.5 hours of battery life closer to 18 hours—still a massive amount. We’ll have the full report once we can get our hands on one.

[“source=cnbc”]

El-Erian on global market sell-off: ‘I don’t think the party is over’

Mohamed El-Erian

A recent global stock market sell-off won’t be enough to persuade the U.S. central bank to stop raising interest rates, noted economist Mohamed El-Erian told CNBC on Friday.

It comes as financial markets have been hit hard by a range of worries in recent weeks, including the U.S.-China trade war, a rout in emerging market currencies, rising borrowing costs and bond yields and economic concerns in Italy.

“I don’t think the party is over. I think what we are seeing is a transition in regimes,” El-Erian, chief economic advisor at Allianz, told CNBC’s Hadley Gamble in Paris on Friday.

“One from where markets were comforted by ample, predictable liquidity to now having to recognize that divergent fundamentals are going to be the driver of asset prices.”

Not ‘a single soothing word’

The Federal Reserve has already hiked rates three times this year, and investors have priced in a fourth hike in December.

Earlier this month, Fed Chair Jerome Powell said rates are a long way from so-called neutral, a level neither accommodative nor restrictive to the economy.

Since beginning his four-year term at the Fed in February, Powell’s tenure has been marred by disapproving comments from President Donald Trump.

At the start of the month, Trump called the Fed’s plan to continue hiking interest rates “crazy” after the S&P and the Dow marked their worst losses in eight months. Global markets have since whipsawed in recent weeks, amid lingering worries the Fed could soon pick up the pace of its planned interest rate hikes.

Nonetheless, El-Erian said it was “not surprising” to see a recent spike in market volatility. That’s because the Fed has been “very insistent” with its plan to raise interest rates this year and next — without saying “a single soothing word” during the recent bout of selling.

Liquidity risk

When asked which market indicators were keeping him worried, El-Erian replied: “I think that this divergence theme is a really important one.”

“We see interest rate differentials between Germany and the U.S. stretched to high levels (and) we are going to see more pressure on the FX markets. Of course, the best way of dealing with it is for Europe to get its act together on policies and pick up.”

On Thursday, the European Central Bank (ECB) kept its policy unchanged, staying on course to hike interest rates sometime after next summer. The ECB also confirmed its plan to end monetary easing by the end of 2018 remained on track.

“The second issue that I think that is important is underestimated liquidity risk … Liquidity risk is back and investors need to pay attention to that.”[“source=cnbc”]