Fixed Deposit: Fixed Deposit (FD) has been one of the most popular investment options in India. People prefer to invest in FDs because of their safe and fixed returns. However, whenever you invest in FD, some important things must be taken care of. Today we are going to tell you about these important things.
choice of tenure
Whenever investing in FD, think carefully about the tenure (tenure). Keep in mind that there is a penalty for breaking the FD before maturity. This can reduce the total interest earned on the deposit.
invest money in different FDs
- One FD should not invest full money.
- If you want to invest 5 lakh in FD then get five FDs of 1 lakh in more than one bank.
- > This is necessary so that when you need money, you can get an FD broken in the middle according to your need. This will keep the rest of your FD safe.
- One should not invest full money in one FD.
- If you want to invest 5 lakh in FD then 1 lakh in more than one bank Get five FDs.
- It is important that when you need money, you can break one FD in the middle according to your need. This will keep the rest of your FD safe.
Tax on interest earned on FD
- Interest earned from FD is taxable as per income tax slab.
- If the interest earned on FD exceeds Rs.10 thousand in a financial year then TDS will be deducted on it. This will be 10% of the total interest earned. For senior citizens, this limit is 50 thousand.
- If your income is less than the taxable range, then Form 15G and Form 15H can be submitted to the bank to not allow TDS deduction on FD.
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ब्याज
- Banks had the option to withdraw interest on quarterly and yearly basis earlier.
- Some banks are now offering monthly withdrawal option as well.
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