- Which bank is highest interest?
- Is LIC better than FD?
- Is FD a good option?
- Can I double my money in 5 years?
- Can I open FD in Yes Bank?
- How much money can be deposit in post office?
- How can I withdraw money from Post Office FD?
- Is FD safe in post office?
- What is the interest rate of FD in post office?
- Is Post Office FD taxable?
- What is the interest of 1 lakh in SBI?
- Which bank is safest in India?
- How many years FD will double in HDFC?
- Which bank is best for FD in 2020?
- Which is best post office or bank?
- Which post office scheme is best?
- Is FD tax free?
- Is TDS deducted on Post Office FD?
- How many years FD will double in post office?
- Which bank is safe for FD?
- Which type of FD is best?
Which bank is highest interest?
Best FD Rates in India among Top 10 BanksIDFC Bank offers the highest FD interest rate of 6.00% p.a.
which is for a tenure of 500 days for the general public.
The next highest interest rate being offered is 5.50% p.a.
for a tenure of up to 5 to 10 years and is being offered by ICICI Bank, HDFC Bank and Axis Bank..
Is LIC better than FD?
Comparing between FD and Life Insurance Plan Thinking of short and long term investments, FDs are better. Life insurance plan are suitable only as long term investment options. The minimum period of investment in a life insurance plan is about 10 years. The minimum amount that you can deposit in a FD plan is Rs.
Is FD a good option?
Is FD a good investment? Ans. A fixed deposit is a low-risk, low-return investment option ideal for highly conservative and risk-averse investors. If you are willing to take some degree of risk there are several better alternatives such as Liquid Mutual Funds, Debt Mutual Funds etc.
Can I double my money in 5 years?
To get your money doubled in five years, the CAGR needed will be nearly 15 per cent (more preciously 14.87 per cent). However, there is no guaranteed-return product that offers such a high rate of return and the only possible way to achieve this is by taking risk.
Can I open FD in Yes Bank?
Account holders should know that deposits with Yes Bank are insured for up to Rs 5 lakh by the DICGC. DICGC insures all deposits such as savings, fixed, current, recurring, etc. except for a few such as inter-bank deposits, any amount due on account of and deposit received outside India, etc.
How much money can be deposit in post office?
Single account holders can deposit a maximum of Rs one lakh while joint account holders can deposit a maximum of Rs two lakhs. One of the main features of a Post Office savings account is that there is no lock-in or maturity period.
How can I withdraw money from Post Office FD?
An account holder will be allowed to prematurely withdraw the time deposit account after six months of opening the account. If the account holder closes the account between six months to one year, the interest is paid on the rate prescribed for the savings account.
Is FD safe in post office?
However, post office term deposits are totally risk-free as they are backed by the government. Bank FDs are insured only up to R1 lakh. … If you are looking for a safe investment, bank FDs are suitable for you.
What is the interest rate of FD in post office?
InstrumentInterest rate (%) from 01.10.2020Max amt (Rs)Time Deposit#5.50-6.70No limitPost Office Monthly Income Scheme6.6Single: 4.50 lakhPost Office Monthly Income Scheme6.6Joint: 9 lakhKisan Vikas Patra6.9No limit6 more rows•7 days ago
Is Post Office FD taxable?
Post office time deposits The interest earned is fully taxable and to be added to one’s ‘Income from other sources’ as in the case of bank FD. There is complete safety as the entire amount in post office time deposit is backed by a government guarantee. Even the interest rate is higher than bank FD in most cases.
What is the interest of 1 lakh in SBI?
Interest rate on SBI savings bank deposits Currently, the interest rate on savings bank deposits on balance up to Rs 1 lakh is 3.5 per cent. On balance above Rs 1 lakh, the interest rate is 3 per cent per annum, which is set at 2.75 per cent below RBI’s Repo Rate, with a minimum of 3 per cent for the entire balance.
Which bank is safest in India?
List of Best, Safe Banks in India1) HDFC Bank. If market confidence is a measure of the soundness of a Bank, then HDFC Bank takes the cake. … 2) State Bank of India. … 3) ICICI Bank. … 4) AXIS Bank. … 7) Kotak Mahindra Bank, IndusInd Bank.
How many years FD will double in HDFC?
With HDFC Fixed Deposit, you can invest your money for a tenure anywhere between 7 days to 10 years and earn interest over the deposited amount. You can earn FD interest rate of 5.50%% p.a. for a tenure ranging between more than 5 years and 10 years. Senior citizens enjoy an additional rate of interest of 0.50% p.a.
Which bank is best for FD in 2020?
Fixed Deposit Interest Rates 2020BanksFD Interest RatesTenureHDFC3.00% – 6.25%7 days to 10 yearsPNB Housing Finance7.20% – 8.00%12 months to 120 monthsICICI Bank3.25% – 6.25%7 days to 10 yearsAxis Bank3.50% – 6.75%7 days to 10 years3 more rows
Which is best post office or bank?
At such times, it is best to take a look at some of the post office saving schemes, which offer better interest rates than bank deposits….By Sunil Fernandes.NSC Interest Rates – 6.8%Bank interest rates for similar tenure – 5 to 6%Time deposits 5.5 to 6.7%Banks are slightly lower4 more rows•Jul 5, 2020
Which post office scheme is best?
3. Comparison of the various Post office savings schemesSchemeInterest RatePost Office Monthly Income Scheme Account (MIS)7.6% per annum payable monthlySenior Citizen Savings Scheme (SCSS)8.6% p.a. (Compounded annually)15-year Public Provident Fund Account (PPF)7.9% p.a. (Compounded annually)5 more rows•Sep 14, 2020
Is FD tax free?
Tax deduction on FD interest The interest earned under an FD is taxable under “income from other sources”. The amount invested under 80C of the Income Tax Act is exempt but interest earned under such investments is taxable.
Is TDS deducted on Post Office FD?
e. Tax Implications Section 80C of the Income Tax Act of India, 1961, allows tax deductions on the Fixed deposit investment made within 5 years. The interest paid by the post office is subject to TDS. If no TDS is deducted, the same needs to be declared in the return of income.
How many years FD will double in post office?
10 yearsHow many years will FD double in the post office? At the interest rate of 7%, a post office fixed deposit investment will double in 10 years and four months.
Which bank is safe for FD?
To get the benefit of high rates, both SBI Bank and ICICI bank have a new FD scheme exclusively for senior citizens. The bank fixed deposits are becoming the first choice of depositors to keep their savings safe.
Which type of FD is best?
Corporate Fixed Deposit schemes offer higher returns on your investment, but choosing the right company is imperative. If you choose a good Company FD scheme, you will generally earn more on your investment than bank FDs as these schemes offer the highest interest rate on FD.