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Invesment

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(Querist)
21 October 2013 On Fixed Deposit interst is calculated is it compound interst or simple interst? Should i invest for 5 year or 10 year? Bank are giving 8.75% interst for 5 year and 8.25% for 10 year.
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
21 October 2013 FD interest rate is calculated as annual compound interest in case of reputed bank like HDFC or SBI.
However, you can invest in NSC..
Under NSC

No maximum limit for investment.
No Tax deduction at source.

Certificates can be kept as collateral security to get loan from banks.

Investment up to INR 1,00,000/- per annum qualifies for IT Rebate under section 80C of Income Tax Act.

Trust and HUF cannot invest.

Rate of interest 8.50%.

Maturity value of a certificate of INR.100/- purchased on or after 1.4.2012 shall be INR. 151.62 after 5 year
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
21 October 2013 Agreed with aryan... he has given complete solution for ur query.
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