Financial institution mounted deposits (FDs) proceed to be fashionable funding merchandise not simply amongst senior residents, who’re searching for assured earnings, but in addition amongst traders who can’t abdomen danger. However over-exposure to FDs just isn’t good, and you want to assess your asset allocation and objectives to resolve how a lot cash you must park in them. For example, saving on your little one’s increased training that’s 15 years away by FDs will not be efficient because the post-tax rate of interest of an FD could not provide you with an actual return (return that’s above the speed of inflation), however when you plan to take a vacation in two years, an FD may also help. Earlier than selecting an FD, you must examine the rates of interest on supply. Here’s a listing of banks that supply the best FD charges for deposits as much as ₹ 1 crore over numerous tenures.
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