FD Interst.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 July 2010
Dear Sir,
l want know about the differrence in bank interst and Fixed depaosites interest.
we can tell the Fixed deposites interst is the bank interest. ?
please reply me soon.
l want know about the differrence in bank interst and Fixed depaosites interest.
we can tell the Fixed deposites interst is the bank interest. ?
please reply me soon.
21 July 2010
I am not able to understand
there are various types of interest in banks
1. interest on SB
2. interest on FD
3. Interest on RD
4. Interest on Loans
etc
there are various types of interest in banks
1. interest on SB
2. interest on FD
3. Interest on RD
4. Interest on Loans
etc
Ca Aashish Upadhyay
(Expert)
21 July 2010
Dear All
Interest is the return on your investment. There are various types of accounts facility offered by the Bank to attract deposit. The Investment are in the nature of Short Term and Long term.
In Saving Bank (SB) A/c the liquidity is very high you can withdraw when ever you want. Here the rate of Interest which you might receive is generally low.
In Fixed Deposit (FD) the term of deposit is fixed and you can not withdraw money before the end of period. Here the rate of Interest is high. At the time of Maturity you receive Principal and Interest
In recurring Deposit (RD) you have to deposit a fixed amount on monthly/daily basis up to a certain period of time and after that you will receive Principal+ Interest) Here also there is a lock in period.
As regards the Interest on Loan is concerned it is the Interest which we generally pay on taking a loan from a Bank
Interest is the return on your investment. There are various types of accounts facility offered by the Bank to attract deposit. The Investment are in the nature of Short Term and Long term.
In Saving Bank (SB) A/c the liquidity is very high you can withdraw when ever you want. Here the rate of Interest which you might receive is generally low.
In Fixed Deposit (FD) the term of deposit is fixed and you can not withdraw money before the end of period. Here the rate of Interest is high. At the time of Maturity you receive Principal and Interest
In recurring Deposit (RD) you have to deposit a fixed amount on monthly/daily basis up to a certain period of time and after that you will receive Principal+ Interest) Here also there is a lock in period.
As regards the Interest on Loan is concerned it is the Interest which we generally pay on taking a loan from a Bank
Nirpendra Singh
(Expert)
21 July 2010
Yes
interest on fixed deposit is also treated like bank intt.but it is subject to tds deduction u/s 194A @10% if it exceed Rs. 10000.
interest on fixed deposit is also treated like bank intt.but it is subject to tds deduction u/s 194A @10% if it exceed Rs. 10000.
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