How to Calculate Monthly Interest for 1 Lakh Fixed Deposit?
Fixed deposits are the preferred investment instruments for many to save their money and get assured returns. It is a secure option for saving funds for future goals and financial emergencies. Most financial institutions offer multiple fixed deposit products to best suit an individual’s financial goals and preferences. Fixed deposit interest rates vary based on the financial institution, type of FD chosen, tenure, and even age bracket. Before delving into...
What is a Fixed Deposit Receipt?
A Fixed Deposit Receipt is the document given to a depositor by a financial institution when they open a fixed deposit. It is similar to an invoice you receive when you buy something from a shop. Like a bill, it contains all the details about the fixed deposit. Contents of an FDR An FD Receipt or FDR is a substantiating document that mentions the amount of money deposited, the time...
Types of Fixed Deposits in India & How to Choose the Best Fixed Deposit?
Fixed deposits are a form of investment best suited for risk-free investors. It allows them to invest their money for a fixed period of time at a fixed interest rate. Fixed deposit interest rates are predefined based on the term. The interest rates are slightly higher for senior citizens, and the percentage is discretionary to the financial institution. Once depositors meet fixed deposit eligibility criteria and submit the documents...
Everything You Need to Know About Term Deposit
New investors are flocking to Term Deposits, also called fixed deposits, which has long been known as a safe investment choice. While opening a Term Deposit is virtually simple, there are a few things to consider. Today’s blog has everything you require to understand Term Deposit, including its types, features, etc. What is a Term Deposit? A Term Deposit, also called Fixed Deposit (FD), is a deposit provided by NBFCs...
Why Fixed Deposit is Good Option to Plan Your Vacation
We all have a desire to travel and explore the world in our own way, and we often tend to put it under the carpet. This is because we think our income or savings will fall short of meeting the expenses and can derail our financial well-being. However, this does not hold true, and you can easily fund your travel plans through smart and planned investments without affecting your regular...
How to Open Fixed Deposit Account Online?
You may be familiar with the process of opening a new FD account at your bank using your savings or current account. But, it follows a different process, when it comes to opening a new corporate fixed deposit account. At a bank branch, where you maintain your account, you just need to submit a filled-in application form and a cheque to get a new FD certificate. But, at an HFC...
What Are The Features And Benefits Of Fixed Deposit Account?
When it comes to investing your savings, fixed deposits turn out to be a natural choice for many. For decades, it continues to be one of the preferred choices of investment and is considered a sound investment avenue. So, let us examine all the features that make it an evergreen investment option. FD Gives Guaranteed Rate of Return: Once the funds are invested in a fixed deposit, the depositor is...
New Year Gift Ideas: Best Financial Gifting Options for your Loved Ones
Finding best new year gift is no more a tedious task. Read on to know how can you gift financial security to your loved ones on new year 2020.
Benefits of Fixed Deposit for Young and Senior Citizen
Fixed Deposits are one of the most preferred investment avenues for people of all ages especially senior citizens and parents of young children. The primary reasons being that it carries minimal risk and help in fulfilling both short and long term goals. Senior citizens, especially retired persons, can enjoy interest on their deposits on monthly, quarterly, half-yearly or annual basis depending upon their requirements. FDs come with the option of...
Things to Keep in Mind Before Opening NRI Fixed Deposit
India is among the few countries that offer high returns on financial investments in the global scenario and fixed deposit is one such instrument. With the count of non-resident Indians (NRI) soaring high with each passing day, many find it lucrative to invest their corpus back in India. Investments in fixed deposits, is usually preferred, amongst other Indian financial instruments, owing to low risk returns and as a hedge against...
