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Forbes
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326
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High-Yield Savings Account Rates Today: December 16, 2024 – Rates Are Mixed
- Rates on savings accounts are mixed compared to one week ago.
- The highest APY on a standard savings account with a $2,500 minimum deposit is 6.82%.
- High-yield savings accounts requiring a minimum deposit of $10,000 have an interest rate of 6.82%.
- Interest rates on savings accounts are influenced by Federal Reserve's rate moves and the state of inflation.
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Forbes
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330
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CD Rates Today: December 16, 2024—Earn 5% And Up
- CD rates, which are fixed for the maturity period, provide a better yield than high yield savings accounts. CD terms range from three months to five years.
- The highest CD rate today is 5.37% for a 12-month term. One must be aware of the early withdrawal penalty before making an investment.
- For a six-month term, the best rate offered is 5.25%. The current average APY for a six-month CD is 1.85%, which is consistent with last week at this time.
- 24-month CDs today are being offered at interest rates as high as 4.52% and the top rate on a 3-year CD is 4.65%.
- On a five-year CD, the highest rate today is 4.25%, but one must be aware of the early withdrawal penalty.
- Opening a CD account requires a lump-sum deposit, which can also be considered as an investment. CD accounts generally have minimum deposit requirements.
- PenFed Credit Union’s CD rates range from 3.00% to 3.65% while U.S. Bank CD rates currently range from 0.05% to 0.25%.
- The Federal Deposit Insurance Corp provides insurance for up to $250,000 to an account owner in the event of a bank failure. For share certificates purchased from credit unions, the National Credit Union Administration insures up to the same limit.
- When looking for the best CD rates, cast a wide net and study offerings from traditional banks, credit unions, and digital firms. Credit unions may provide higher yields than traditional banks.
- CDs are considered to be safer than other investments since federal insurance coverage protects these investments.
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HRKatha
1w
150
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Akasa air pilots flag concerns over training and safety
- Akasa Air pilots have raised concerns over alleged training lapses and safety issues.
- The pilots seek intervention and an independent probe into the airline’s management practices and operational standards.
- Akasa Air denies the allegations and highlights employee retention and satisfaction metrics.
- The airline has previously faced challenges with its pilot workforce, including fines for lapses in crew training.
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HRKatha
1w
71
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Tripura irregular employees demand regularisation, warn of mass protest
- Employees in Tripura are demanding regularisation and equal pay for equal work.
- The Tripura Irregular Employees Forum held a state-wide convention to highlight their frustration and demand justice.
- They have warned of a mass protest if their demands are not met.
- The forum demands immediate regularisation and equal pay for all irregular employees.
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HRKatha
1w
356
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Nissan expands workforce in India amid global restructuring
- Nissan has added around 600 workers to its production facility in India.
- The Chennai facility is being prepared for increased activity to triple volumes by 2026.
- Nissan's operations in India remain unaffected by global restructuring.
- Nissan is upgrading its Chennai facility for the production of electric vehicles.
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Forbes
1w
75
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Mortgage Refinance Rates Today: December 16, 2024—Rates Move Upward
- The 30-year fixed refinance rate increased from 7.10% to 7.29%.
- The average rate for a 15-year fixed mortgage refinance is 6.30%.
- The average rate for a 20-year fixed mortgage refinance is 7.14%.
- Borrowers with a 30-year fixed-rate mortgage of $100,000 at 7.29% will pay $685 per month.
- The APR for a 30-year fixed-rate mortgage is 7.31%.
- At 7.14%, a 20-year fixed-rate mortgage refinance of $100,000 would pay $784 per month.
- The APR for a 20-year fixed mortgage rate is 7.17%.
- With an interest rate of 6.30%, on a 15-year fixed, pay $860 per month in principal and interest for every $100,000 borrowed.
- The APR for a 15-year fixed mortgage is 6.33%.
- The average rate for a 30-year fixed-rate jumbo mortgage refinance is 7.21%.
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Forbes
1w
16
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Mortgage Rates Today: December 16, 2024—Rates Move Up
- The mortgage interest rate on a 30-year fixed mortgage is 7.17%, with an APR of 7.19%.
- The average rate on a 15-year fixed mortgage is 6.29%, with an APR of 6.32%.
- The current average rate on a 30-year jumbo mortgage is 7.21%, with an APR included.
- Qualifying for better mortgage rates depends on credit, DTI ratio, and loan programs.
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Forbes
1w
201
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Current HELOC & Home Equity Loan Rates: December 16, 2024—Rates Are Mixed
- Home equity loans and home equity lines of credit (HELOCs) allow homeowners to tap into the value of their homes.
- A home equity loan is a fixed-rate, lump-sum loan that allows homeowners to borrow up to 85% of their home’s value and pay that amount back in monthly installments.
- A home equity line of credit is a variable-rate second mortgage that draws on your home’s value as a revolving line of credit.
- The more home equity you have, the higher your net worth rises. Building wealth is vital to having long-term financial health, and home equity is one way to build wealth.
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Forbes
1w
75
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Today’s Top Money Market Account Rates For December 16, 2024 — Rates Move Downward
- The current average money market rate is 0.56%, while the highest rate is up to 5.00%.
- Money market accounts are interest-bearing deposit accounts that work similarly to savings accounts.
- Compared to regular savings accounts, money market accounts usually offer higher interest rates.
- To open a money market account, compare the best yields, consider minimum requirements, and submit an application.
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HRKatha
1w
180
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What measures are employers taking to drive gender equality?
- Employers across the world are taking various measures to drive gender equality in recruitment and retention.
- 53% of employers are building trusting relationships with teams.
- 51% of employers are supporting employee well-being.
- 48% of employers are implementing policies to ensure equal career development opportunities.
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HRKatha
1w
381
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How Magma HDI is cultivating tomorrow’s leaders through ‘Step-Up’
- Magma HDI General Insurance has set up the Step-Up Programme, to prepare graduates for a career in the insurance sector.
- Fresh graduates are taught strategic thinking for general management responsibilities, or operational and execution-focussed roles.
- The programme's onboarding process ensures trainees interact with senior leadership, creating a sense of belonging and purpose from day one.
- A mentorship framework pairs trainees with experienced professionals who offer guidance and whose progress is monitored through quarterly evaluations.
- The Spotlight Programme recognises the accomplishments of exceptional trainees, with around 10% to 15% of trainees already recognised.
- The company offers fast-track promotions for trainees who demonstrate exceptional performance.
- Magma HDI has partnered with the Institute of Insurance and Risk Management (IIRM) for customised training modules.
- The company's culture values openness, with the Synergy initiative, that reinforces trust and ensures employees see tangible outcomes from their feedback.
- Magma HDI plans to scale the Step-Up Programme further, supporting organisational needs through digital transformation and emerging industry trends.
- Magma HDI continues to invest in fresh talent and their development to lead the industry into its next phase of evolution.
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Minis
1w
2.8k
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Why do companies go public & launch their IPO?
- Companies go public by launching an Initial Public Offering (IPO) to raise capital for expansion, debt repayment, R&D, and branding.
- This also enhances their visibility and provides liquidity for shareholders. The process involves preparing financial statements, regulatory approvals (e.g., SEBI in India), marketing via roadshows, pricing, and listing on the stock exchange.
- While IPOs offer benefits like increased capital, credibility, and growth opportunities, they come with challenges like compliance costs, loss of control, and market scrutiny. For example, Zomato’s 2021 IPO raised funds for expansion and innovation, highlighting the transformational impact of going public.
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HRKatha
1w
160
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Only employer can decide worth, suitability of employee: J&K and Ladakh HC
- The Jammu and Kashmir and Ladakh High Court ruled that the assessment of an employee's worth and suitability must be left to the employer's decision.
- The court stated that courts cannot interfere with transfer orders and substitute their own decision for that of the management.
- No employee can claim a right to a particular post, as matters of transfer and posting are considered incidents of service.
- Courts can only intervene if there are legal violations or proven malafide intentions in such matters.
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HRKatha
1w
293
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Alok Mehta is president, CBO-Talevate & HEX/group CHRO, CL Educate
- CL Educate has appointed Alok Mehta as president, CBO-Talevate & HEX/group CHRO.
- Mehta will lead the business aimed at transforming the practice of education and enabling talent.
- He has a strong background in human resources, with previous roles at Ranbaxy Laboratories, Motorola, Deutsche Bank, and other companies.
- Alok Mehta brings deep responsibility, coaching, and mentoring skills to his new role at CL Educate.
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HRKatha
1w
1.4k
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RIL finds new group president-people & talent in Ira Bindra
- Reliance Industries (RIL) has appointed Ira Bindra as group president-people and talent.
- Bindra will lead and drive transformation across RIL for people, culture, and leadership.
- She brings over two decades of experience and has held prominent HR roles at companies like GE and Medtronic.
- Bindra's appointment aims to propel the next chapter of growth and transformation for Reliance.
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