Fixed deposits are always considered as a secure investment option in India as compared to the other investment options such as shares, bonds, property, and Mutual funds, etc. because of these kinds of investments wholly based on market fluctuations, and with no rate of return. Therefore, the Fixed deposit (FD) is a trendy saving avenue provided by banks and NBFCs for both long- and short-term investments.
Before depositing savings in an FD first, we should know the complete procedure of it. You can deposit your money for a fixed period. At the time of maturity, you will receive the interest along with invested capital. In this segment, we will describe to you how you can avail of high returns on a fixed deposit scheme.
Follow the below-mentioned tips to get maximum return on your investment
Compare Return of investment: The rate of interest in FD differs from one institution to another institution. So before investing in FD, you must compare the rate of interest then choose NBFCs and Banks that provide you assured the highest fixed deposit interest rates.
Credit Rating: You should check the company credit rating for investing your savings in any company FD scheme.
Submit Form 15g and 15h: You can avoid tax deduction on your fixed deposit by submitting form 15g and 15h.
There are lots of tips which help you to get a better return on a FD than regular FDs, and hence, you can increase your money in a better way. The best part about fixed deposit investment, you can select for a monthly, quarterly, half-yearly, and annual interest. If you are a senior citizen, then you can avail of a 0.25% additional interest rate on FD.
Read more- Why Should Senior Citizens Invest Their Money In Fixed Deposit
Before depositing savings in an FD first, we should know the complete procedure of it. You can deposit your money for a fixed period. At the time of maturity, you will receive the interest along with invested capital. In this segment, we will describe to you how you can avail of high returns on a fixed deposit scheme.
Follow the below-mentioned tips to get maximum return on your investment
Compare Return of investment: The rate of interest in FD differs from one institution to another institution. So before investing in FD, you must compare the rate of interest then choose NBFCs and Banks that provide you assured the highest fixed deposit interest rates.
Credit Rating: You should check the company credit rating for investing your savings in any company FD scheme.
Submit Form 15g and 15h: You can avoid tax deduction on your fixed deposit by submitting form 15g and 15h.
There are lots of tips which help you to get a better return on a FD than regular FDs, and hence, you can increase your money in a better way. The best part about fixed deposit investment, you can select for a monthly, quarterly, half-yearly, and annual interest. If you are a senior citizen, then you can avail of a 0.25% additional interest rate on FD.
Read more- Why Should Senior Citizens Invest Their Money In Fixed Deposit
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