FIXED DEPOSITS

Let Your Money Rest, While It Grows.

A Fixed Deposit (FD) is a financial instrument offered by banks and non-banking financial companies (NBFCs) that allows individuals to deposit a lump sum of money for a fixed tenure at a pre-determined interest rate. It is one of the safest and most popular investment options, especially for risk-averse individuals.

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Additional Benefits of Children Education

Guaranteed Returns:

Fixed deposits offer a fixed rate of return, ensuring predictable and secure income.

Tax Benefit:

Certain FDs offer tax benefits under section 80C of the Income Tax Act. Additionally, you can opt for Tax-saving Fixed Deposits with a 5-year lock-in period.

Capital Safety:

Your principal amount is safe, as it is not exposed to market volatility.

Easy to Manage:

Once you make the deposit, you don’t need to actively manage it, making it hassle-free.

Why Choose Fixed Deposits?

  • Ideal for Risk-Averse Investors: If you’re looking for stability and low risk, FDs are the perfect choice.
  • Steady Income Source: FDs provide a fixed, reliable income stream, making them ideal for retirees or individuals looking for regular income.
  • Quick Access to Liquidity: In case of emergencies, you can break your FD before maturity (though penalties may apply).

Types of Fixed Deposits:

  1. Regular Fixed Deposit: Offers fixed interest rates for a set period.
  2. Tax-Saving Fixed Deposit: Offers tax deductions under section 80C of the Income Tax Act.
  3. Senior Citizens Fixed Deposit: Special interest rates for senior citizens.
  4. Cumulative Fixed Deposit: Interest is compounded and paid at the end of the term.
  5. Non-Cumulative Fixed Deposit: Interest is paid periodically, typically monthly, quarterly, or annually.

Fixed Deposit R.O.I

FAQs Section

Frequently Asked Questions (FAQs)

What is the minimum amount required to open an FD?

The minimum amount varies by the bank or financial institution. Typically, it's as low as ₹1,000.

Can I withdraw my FD before maturity?

Yes, you can prematurely withdraw your FD, but penalties and reduced interest rates may apply.

Is my FD interest taxable?

Yes, FD interest is taxable as per your income tax slab. TDS is deducted if the interest earned exceeds ₹40,000 in a financial year (₹50,000 for senior citizens).

What happens if I miss the FD renewal date?

If you miss renewing the FD, it will automatically get renewed at the prevailing interest rates, unless you specify otherwise.

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