New Delhi2 minutes ago
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HDFC and Yes Bank have recently changed the interest rates of fixed deposits (FD). In such a situation, if you are planning to get FD in these banks or any other bank, then before this, you should also know about the National Time Deposit account of the post office.
Here, apart from the National Time Deposit Account of the post office, we are also telling you how much interest the country’s major banks are offering on FD.
Interest up to 7.5% in National Savings Time Deposit Account
- It is a kind of FD. You can get fixed returns by investing for a fixed period.
- The time deposit account offered an interest rate from 6.9% to 7.5% for a period of 1 to 5 years.
- It has to invest a minimum of 1000 rupees. There is no limit for maximum investment. Click here for more information related to this scheme
Keep these 3 things in mind while making FD
1. It is necessary to choose the right tenure It is necessary to think about his tenure (duration) before investing in FD. This is because if investors withdraw before maturity, they will have to pay the fine. Before the FD mature, it will have to be given a penalty of up to 1% if it breaks. This may reduce the total interest earned on deposits.
2. Do not put full money in the same FD If you are planning to invest 10 lakh rupees in FD in one bank, then instead invest in more than one bank in more than one FD of 8 FD of 1 lakh rupees and 4 FD of 50 thousand rupees. If you need money in the middle, you can arrange money by breaking FD in the middle according to your need. The rest of your FD will be safe.
Tax exemption is available on 5 -year FD The 5 -year -old FD is called Tax Savings FD. On investing in this, you can claim a cut of Rs 1.5 lakh from your total income under Section 80C of the Income Tax Act. Understand this in easy language, you can reduce your total taxable income by 1.5 lakhs through section 80C.
