GST Course

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More


Hitesh (Student)     23 November 2018

go through banks website or call them up
Aman Khanna

Aman Khanna (Finance Advisior)     23 November 2018

Fixed deposit offers a low-risk and reliable source of wealth accumulation with time. if you invest in FD scheme you would receive assured returns within a fixed time and can grow their corpus.

There are different types of fixed deposit available to cater to the diversified needs of the investors. These areas mentioned below -

Regular deposit - these provide a fixed interest rate throughout the lock-in period and can be booked with a minimum amount of just Rs. 25,000. Investors can choose a flexible tenure between 12 to 60 months to book the deposit. Usually, lenders such as NBFCs offer a higher interest rate on FD starting from 8.75% onward.

Tax saving deposit - they offer a tax exemption on the principal amount of up to Rs. 1.5 lakhs. However, the investment cannot be withdrawn before the lock-in period.

Senior citizen deposit - this offers a higher interest rate of 0.35% on the base rate available to senior citizens who are 60 years old and above.

Withdrawal-specific deposit - these are of 2 types - cumulative FD (where deposit+interest income can be withdrawn at the time of maturity) and non-cumulative FD (where deposit+interest income can be withdrawn at monthly, quarterly, half yearly and annual intervals).

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Threads

Start a New Discussion

Popular Discussion

view more »

Subscribe to the latest topics :
Search Forum:

Trending Tags