Earn more with Fixed Deposit

Deposit your surplus money for a period of 1 year to 10 years and receive safe and guaranteed returns on your investment. Also, save tax by investing in tax saving FDs

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FD SCHEMES

A fixed deposit is beneficial for tax purposes when you invest in a tax saving FD schemes. Check out few best options below.

Bajaj Finance Fixed Deposit
Minimum Investment
Returns:
  • 7.6%
  • 8.15%
  • 8.4%
INVEST
HDFC Fixed Deposit
Minimum Investment
Returns:
  • 7.4%
  • 7.35%
  • 7.35%
INVEST
DHFL Fixed Deposit
Minimum Investment
Returns:
  • 7.7%
  • 8.0%
  • 8.45%
INVEST
Mahindra Finance Fixed Deposit
Minimum Investment
Returns:
  • 7.7%
  • 8.25%
  • 8.5%
INVEST

Calculate your FD

  • Monthly
  • Quaterly
  • Half Yearly
  • Yearly
  • At Maturity
  • {{investmentAmt | INR}}
  • {{maturity | INR}}
  • {{total | INR}}

Benefits of FD

  • FD can be used as collateral for taking loans. You can take up to 80-90% loans on your FD amount
  • The depositor can choose to transfer the amount at the time of maturity for a further Fixed Deposit.
  • The money can be deposited only once. Once deposited, withdrawal of money from the account will accrue a penalty.
  • FD schemes are good investment tools for those who have surplus funds and want to earn money from it.

Tax Benefits on FD

Similar to other personal tax-saving and investment instruments, Fixed Deposits schemes also attract taxes. A TDS of 10% is deducted on the returns accrued from an FD if the total interest exceeds Rs. 10,000 in a single financial year.

Let’s compare this to the SIP scheme and you can see that SIPs are more beneficial for the long term. Since long-term gains from equity are tax-free, any SIP which invests in ELSS (Equity Linked Mutual Funds) is also tax-free after one year.