My father had a few bank-fixed deposits and passed away in July 2024. He did not write any will. I am the nominee for all the fixed deposits he holds. Since my father had no tax liability, he used to give Form 15H, so no TDS has been deducted in the past. I want to … Read more
When you are looking for bank fixed deposits (FD), one factor to consider is the highest rate of interest offered by different banks. The general thumb rule is that banks tend to offer higher interest rates for long-duration deposits and lower rates for shorter duration. For instance, a five-year FD will offer a higher interest … Read more
Typically, banks offer fixed deposits with a maximum tenure of 10 years. There is no bank that offers an FD with a tenure longer than 10 years. This may change soon. Suryoday Small Finance Bank plans to stretch the maximum tenor of a Fixed Deposit (FD) to over 20 years, and the depositors will also … Read more
Rakhi 2024: Raksha Bandhan is a cherished Indian festival where sisters tie sacred ‘Rakhis’ around their brothers’ wrists. Brothers respond with various gifts, from cash and jewellery to smartphones and clothes. This year, elevate the tradition by choosing financial gifts that ensure your sister’s security and prosperity, offering more than just material items but a … Read more
Have you ever wondered what you would do if you had a fixed deposit with an NBFC but wanted to prematurely withdraw it due to an emergency? Well, the latest guidelines issued by the Reserve Bank of India (RBI) make provision for this. The banking regulator released a regulatory framework via a circular dated August … Read more
Before opening a fixed deposit (FD) with a bank, depositors tend to compare the interest rates offered by a bank with those of other banks. Typically, banks offer higher rates of interest on long term deposits. This means longer the duration, higher the rate of interest. Conversely, shorter the duration, lower the rate of interest. … Read more
Investing, a crucial aspect of financial planning, requires a strategic approach that aligns with individual goals and time frames. Whether it’s equities, debt funds, or other asset classes, having a clear investment horizon is imperative for optimising returns and managing risk effectively. Investing with a time frame: Importance across asset classes When it comes to … Read more
If you want to double your money in the next 7 to 10 few years, your first choice, arguably, would be to invest into equity. Conservative investors, meanwhile, tend to opt for fixed income instruments such as fixed deposits (FDs) partly for wealth creation and partly for keeping their money safe & secure. Those who … Read more
If you are a conservative investor, opting for a fixed deposit (FD) is a logical thing to do for gradual wealth creation. You invest a small or large sum in a term deposit and then stay stress-free until the date of maturity. Not only does your money remain safe, but it also gives a good … Read more
While FDs offer guaranteed returns, these returns are typically modest. In an era of rising living costs, the purchasing power of your money can diminish, leaving you with less than you started with in real terms. Inflation: The silent wealth killer One of the biggest drawbacks of fixed deposits is their vulnerability to inflation. When … Read more