Every investment is good but the one thing should be changed return. Fixed deposit and term deposit something the same but before investing you should check which one should best for you.
Difference between FD and Term Deposit
There is some difference between Fixed Deposit and Term deposit defined by some of the institute and finance adviser that term deposit is a fixed investment made for the 3 months and 6 months and the fixed deposit you can invest your money 7 days to 10 years.
In both investment option investors deposit his money with a fixed rate of interest at tenure investor get his return along with the interest rate if some of the reason investor breaks his FD or term deposit then they will not get the promised amount.
FD vs Term deposit
Fixed deposit and term deposit both are taxable if your interest rate is cross the 10k in one financial year then you fall in TDS deduction criteria. To avoid this you should fill 15G and 15H form through the bank.
Fixed deposits:
FD offers the best interest rate up to 4 to 8 %* it depends on the bank and NBFC. FD offers some additional benefits, loans against FD, interest is high when you plan to invest in NBFC. e.g PNB housing FD rate up to 8.20%, you can withdraw his FD.
Recurring Deposit (RD):
Corporate FD
Difference between FD and Term Deposit
There is some difference between Fixed Deposit and Term deposit defined by some of the institute and finance adviser that term deposit is a fixed investment made for the 3 months and 6 months and the fixed deposit you can invest your money 7 days to 10 years.
In both investment option investors deposit his money with a fixed rate of interest at tenure investor get his return along with the interest rate if some of the reason investor breaks his FD or term deposit then they will not get the promised amount.
FD vs Term deposit
Fixed deposit and term deposit both are taxable if your interest rate is cross the 10k in one financial year then you fall in TDS deduction criteria. To avoid this you should fill 15G and 15H form through the bank.
Fixed deposits:
FD offers the best interest rate up to 4 to 8 %* it depends on the bank and NBFC. FD offers some additional benefits, loans against FD, interest is high when you plan to invest in NBFC. e.g PNB housing FD rate up to 8.20%, you can withdraw his FD.
Recurring Deposit (RD):
- The interest rate is up to 5% to 7.85%*
- Tenure is 6 months to 10 years
- You can get an interest rate on a monthly basis
Corporate FD
- Interest rate is 7.5% to 8.5%
- Interest earn higher than the FD
- Before making any kind of investment you should check CRISIL rating of the bank and NBFCs
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