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How to Make Your Fixed Deposit Yield More Returns?

If Fixed Deposits or FD is opted by you for investing your surplus earnings as a safe investment then you may think about how to maximize your returns on FDs.
FDs are popular because of the safety and reliability extended by this type of investment. You may be knowing that different banks and NBFCs offer different terms and conditions to investors. That is good and here are some tips on how to get the best Fixed Deposit Interest rates for your investment.

Carry out a Thorough Research- Most investment decision demands a thorough analysis and FDs are no different. Some banks and NBFCs provide higher interest rates on FD for longer tenure. What should be the tenure of your FD for maximum interest rates by which bank or NBFC should be your research topic.

Don’t forget to Use a Calculator- Many banks and NBFCs provide interest on monthly, quarterly, half yearly, or annual basis. You will need to calculate and find out which suits your needs for maximum returns.
Read more about How you can use a calculator to find the returns on a FD

Find out whether you need to split your FDs- Tax Deduction at Source or TDS is where tax is deducted at source at the rate of 10% from the interest earnings. It only applies to interest earnings of over Rs. 10000/- per year. You can decide to split your FDs into two or more branches of your chosen bank or NBFC as the tax deductions are calculated on each branch of banks and NBFCs
Interested in Maximizing your Returns. Find out the Details Here:

1 comment:

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