Fixed Deposit: Diwali is the festival of lights, happiness and prosperity. This is the time when people give and receive gifts. Investors invest in new businesses. Fixed deposits are quite popular for those who want a fixed income on their savings.
Fixed Deposit: Diwali is the festival of lights, happiness and prosperity. This is the time when people give and receive gifts. Investors invest in new businesses. Fixed deposits are quite popular for those who want a fixed income on their savings. They look for low-risk investments that provide guaranteed returns and keep their money safe. This Diwali, you can invest in fixed deposits to secure your financial future. However, before investing in fixed deposits, there are several things you should know. If you are also planning to do FD during the festive season, then keep these things in mind.
Interest Rates: While investing, keep in mind the interest rates offered on FD of a bank or financial institution. Which bank is offering more interest? Compare FD rates of each bank. Bajaj Finance is offering 8.60% annual interest. It is giving 8.35% interest to senior citizens. Bank
Period: Time period is important for investing in FD. Generally, the longer the tenure, the higher the interest. Most banks offer higher interest on FDs of 1 to 3 years.
Amount: The FD amount of each bank is different. While investing in FD, definitely check the rules of the bank.
Payment of interest: Make sure to check how the interest payment is going on quarterly or annually. Many banks pay the interest together on maturity. Many banks pay interest annually.
FD Return Calculator: FD Return Calculator is a useful option through which you can calculate interest.
Tax: The interest received on FD is taxed. So it is important to understand this first.
Safety: Before investing in any small finance bank, definitely check its rating.
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