[ad_1]
Benefits of Fixed Deposit scheme: Usually people collect savings and invest it in the form of fixed deposits in the bank instead of keeping it at home. This gives them many benefits apart from the interest rate. Most people invest in it keeping in mind the interest rate. Are you also thinking of investing in your shaving? In such a situation, fixed deposits can prove to be a good option. This not only gives interest but also 7 types of benefits. If you are also going to invest in it, then definitely know about them.
Other Benefits of Investing in Fixed Deposits
1. Get tax exemption by investing in fixed deposits- By investing money in Fixed Deposit Scheme, you can claim tax exemption every year. Apart from this, there is no tax to be paid on the deposit amount and the interest earned on it. The benefit of tax exemption can be availed only on FDs for 5 years or more.
2. You get full guarantee of returns- Before investing in Fixed Deposit, you get information about how much benefit you can take from it. Not only this, for the number of years you deposit it, after that it is also guaranteed to get returns.
3. Withdrawal can be done before FD maturity- After investing in FD, for some reason, it can be withdrawn before its maturity. Usually people do this when there is an emergency. But breaking the FD prematurely means some money may have to be paid as a charge while withdrawing the money.
4. Loan facility on the basis of FD- Usually people take loans from banks when they need money. If there is a fixed deposit in the bank in your name, then it is easy to take a loan. Apart from this, a rebate of about 2% is also available in the interest rate. You can take a loan up to 90% of the amount you have invested in Fixed Deposit.
5. Health Insurance on Fixed Deposit- You can avail health insurance for free by investing in fixed deposits. Only a few selected banks are included in these. If we talk about those banks then it is HDFC, ICICI and DCB.
6. Credit card even if you have a low credit score There are many problems in getting a credit card if you do not have a low credit score or credit history. Having a fixed deposit, it can be issued very easily. You can also shop with this card up to 80-85% of the credit limit of the Fixed Deposit.
7. Guarantee on Fixed Deposit- There is a complete guarantee of getting it back in Fixed Deposit. If for some reason the bank gets auctioned, then it can be taken back as a guarantee up to Rs 5 lakh.
[ad_2]
Source link