Tax Saving Deposits are a good way to get tax deduction under Section 80C of the Income Tax Act, 1961. You can claim a deduction of up to a maximum of Rs. 1,50,000 by investing in them. The booking period for tax-saving fixed deposits is a minimum of 5 years and a maximum of 10…
Fixed deposits also known as term deposits are one of the most popular investment instruments in India owing to a number of benefits which they offer. Besides providing for safety of capital and assured returns, fixed deposits also qualify for a tax deduction under Section 80C of the Income Tax Act. Thus, it is both…
The government of India revised the interest rates on Post Office Small Savings Schemes effective from 1st January, 2019. The revised interest rates on some of the Small Savings Schemes are as under: Post Office Instrument Rate of Interest w.e.f. 01.01.2019 1 year term deposit 7.00% 2 year term deposit 7.00% 3 year term deposit 7.00% 5…
For every individual, whether salaried or self employed, saving money proves to be an essential part of one’s life. Saving money is easier said than done. Every individual aims to save a certain amount of money but end up spending it all. This could lead to several problems in long run when you will be…
We know about fixed deposits, don’t we? But just so that we are on the same page fixed deposits are one of the safest and most consistent saving schemes that guarantee us a fixed percentage of the principal as the return over their tenure. Fixed deposits can be opened by Indian residents, Senior Citizens, and…
Fixed Deposit and Recurring Deposit are the most popular investment products in India, especially if you are looking for a risk free investment. One of the major advantages of making investment in a fixed deposit or recurring deposit is that there are fixed returns over a specified period of time with no risk involved. Bank…
A term deposit is a popular investment option which is held at a bank or financial institution. In a term deposit, your money is invested for a specified rate of interest over a fixed amount of tenure. When you invest your money into a term deposit, your money stays with the bank or financial institution…
Customer Type Rate Hike New Customers +0.25% Bajaj Group Employees/Existing Loan and FD Customers +0.25% Senior Citizens +0.35% Bajaj Finance has increased fixed deposit interest rates with effect from 17th October 2018 for the 36-60 month tenure. Likewise, renewal rates of fixed deposits have been hiked by 0.25%. For senior citizens, there is an additional…