Fixed Deposit, FD Interest Rates In 2025: If you want to get maximum returns on FD, then doing fixed deposit in the name of your mother instead of your wife can prove to be a better way.
Fixed Deposit: Most people like to invest in fixed deposits (Fixed Deposit -FD), because they get fixed returns and your investment amount is safe. But if you want to get higher returns on fixed deposits (Highest FD Interest Rates), then there is a way for this too. Often people get FD done in the name of their wife to save tax. If you want to get maximum returns on FD (FD Interest Rates), then doing fixed deposit (FD investments) in the name of your mother instead of your wife can prove to be a better way.
By getting FD done in the name of mother, you can get many other benefits along with higher interest. Let us tell you today about the benefits of getting FD done in the name of mother.
Benefit of Higher Interest
You can definitely save tax by making an FD in your wife’s name, but keep in mind that you will get the same interest on it as you would get if you made an FD in your name. But if you make an FD in your mother’s name, then you can earn more interest on it. But pay special attention to the fact that if your mother’s age is 60 years or more, that is, she is a senior citizen, then only you can get the benefit of 0.50 percent higher return by making an FD in her name.
On the other hand, if your mother’s age is 80 or more, that is, she is a super senior citizen, then you can get 0.75 to 0.80 percent more interest. For higher returns, you can make an FD in the name of your mother or father. Actually, senior citizens get higher returns on FD.
Benefit of exemption in TDS limit
Let us tell you that TDS (Tax Deducted at Source) is deducted on the income from FD. If the interest earned from FD in a financial year is more than Rs 40,000, then you will have to pay TDS of 10%. But for senior citizens this limit is Rs 50,000.
You can also reduce your tax liability
If you invest in FD in your name, then the income from it is added to your income. That is, in such a case you may have to pay more tax. Therefore, if you make an FD in your mother’s name, then you will not only get more returns but you can also save your tax in this way.
If your mother is a senior citizen, and she has no other income or she falls in the lower tax bracket, then you can get all these benefits by making an FD in her name. In most families, women either fall in the lower tax bracket or they are homemakers. Therefore, there is no tax liability on them.
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