Fixed Deposit FD Best FD Scheme with High Interest Rate

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To know more about fixed deposit interest income, click here - https://cleartax.in/s/income-tax-on-f... • Tax-Saving FD for Section 80C Deductions • https://cleartax.in/s/tax-saving-fd-f... • Bank fixed deposits are one of the most preferable and popular deposit schemes in India. They currently are fetching interest rates ranging from 5.50 to 6.50 per cent for tenures between 1 and 10 years. • Other than the interest rates offered on fixed deposits, the popularity of this deposit scheme is also because of the safe and secure nature of the investment. For instance, when one invests in an FD, the principal amount is invested at a fixed interest rate and interest gain on the deposits accrues and grows over time. • Features of Fixed Deposits • The following are the key features of fixed deposits: • 1. The investment tenure of FDs ranges from one day to several years, and it varies across banks • 2. The return on investment is compounded periodically, and it may be monthly, quarterly, or annually • 3. Senior citizens are provided with slightly higher returns (0.5% higher) • 4. Partial or full withdrawals are permitted (with penalties) • 5. Taxpayers can invest in tax-saver FDs to save taxes under Section 80C • 6. Once the investment matures, investors can reinvest for another term • 7. Loan against FDs are available • 8. Investors will accumulate higher returns if they invest for a more extended period • We are here to make your financial life easier! Comment below if you have any queries or topics that you want us to make videos on! • Thank you so much for watching the video. Don’t forget to give this video a big thumbs up and subscribe for regular videos on finance! Stay tuned! • #fixeddeposit #bankFD #interestrate #highinterestrate #bankfixeddeposit

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