IndusInd Bank, DCB Bank, Federal Bank hike FD interest rates

Over the last two months many banks have increased fixed deposit (FD) interest rates. IndusInd Bank,DCB Bank and Federal Bank and have revised their fixed deposit interest rates. The revised interest rates are for amounts below Rs2 crore.
IndusInd Bank 
IndusInd Bank has hiked interest rates on fixed deposits of less Rs2 crore with effect from 21 June 2022. After the modification, the bank raised the interest rates on a number of deposit tenors, offering the general public a maximum rate of 6.50% and senior citizens a maximum rate of 7%. On term deposits lasting 61 months or longer, the bank gives an interest rate of 6%. The bank offers a 6.50% interest rate for terms of two years to 61 months.
According to the bank website, “Interest is compounded quarterly. Simple interest will be paid on maturity for deposit wherever the tenure is up to 180 days.
DCB Bank has revised the interest rates on fixed deposits under Rs2 crore for tenure higher than 18 months. The new rates are effective 22 June 2022. On deposits maturing in 18 months to less than 120 months will now offer 6.60% after the revision.
Federal Bank 
Federal bank has revised fixed deposit rates on deposits under Rs2 crore. The bank's revised interest rates will take effect on 22 June 2022, and they will be valid for loan terms ranging from 7 days to 2223 days. The bank offers interest rate between 2.75% to 5.95% interest rate.



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Changes in Our Business Model
25th Sept 2020
Greetings from Moneylife Advisory Services
Between financial years 2019-21, SEBI has come up with extensive changes to investor advisor regulations. On Sep 23, 2020, SEBI had issued new additional guidelines. This comes just two months after extensive changes announced in July 2020. Earlier, in December 2019 there was an ad hoc circular
As a result of these changes, IAs, cannot accept fees through credit cards, will have to sign a 26-clause investor agreement, have to maintain physical record written & signed by client, telephone recording, emails, SMS messages and any other legally verifiable record for five years. IAs were already asked to record the suitability and rationale for every piece of advice given, sign them and store them for five years.
While these extensive and frequent changes, designed to strengthen the conduct of IAs are well-meaning, these have sharply increased compliance efforts and cost. We, being online advisors, find many of changes harder to implement, compared to advisors working in the physical space. We will have to have an army of advisors, administrative and tech staff to be compliant. If we do this, we will have to divert money to these areas and the cost of our service will double. We want to remain the least-cost service in the market to benefit more and more people. In the circumstances, we are forced to change our business model from “advisory” to “research”. This will mean the following:
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Over the next few weeks our site and our communication to you will reflect these and other additional changes.
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Debashis Basu