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About Fixed Deposit
About Fixed Deposit
- Fixed Deposits are one of the most preferred investment options among conservative investors who need fixed and regular income.
- A Fixed Deposit, also popularly known as a Term Deposit, is an investment option where the interest rate is fixed for a predefined term.
- Deposits placed by an investor with companies are known as Company Fixed Deposits. These deposits are accepted by manufacturing companies, financial institutions and non-banking finance companies. Deposits mobilized by these companies are governed by the Companies Act u/s 58A.
Basic info about Fixed Deposit
- The tenure of company FDs can range from a few months to a few years.
- You can choose from monthly, quarterly, half-yearly, yearly or cumulative interest payment option.
- The interest income rate earned on FD is added to your income and is taxed as per your income tax slab.
- In cases where the annual interest income exceeds Rs 5,000; TDS will be deducted by the company.
- If you do not want the TDS to be deducted, you need to submit form15G/H with the company.
How does Fixed Deposit Work
100% online process. Quickest way to book an FD in 3 simple steps
- Choose the company & tenure to invest in FD
- Select the client to invest in Primary or Joint names
- Enter the amount to invest and make payment
Maturity amount will be credited to the bank account registered with FundzBazar
Why Fixed Deposit?
Safe
Fixed deposits are considered to be one of the safest investment options. This is because their returns are not linked with the market.
Liquidity
Investment in a Fixed Deposit is locked for the tenure you choose. However, pre-mature withdrawals are allowed after a certain period.
Fixed & Higher Returns
The interest rate earned on a Fixed Deposit remains fixed throughout the tenure you choose. Also, interest rates offered by Corporate FDs are generally higher as compared to Bank FDs.
Tenure
Investment in Fixed Deposits can be for various tenures. Tenures ranging from 1 to 5 years give you the flexibility to choose one that fits your financial goals.
Flexibility
Depending on your needs, you may opt for a monthly, quarterly, half-yearly, yearly, or cumulative interest payout option.
Higher Credit Rating
Invest in Corporate FDs that have been allotted higher credit ratings.
Other Features of Fixed Deposit
Senior Citizen Advantages
Higher interest rates are offered for senior citizens.
Power of Compounding
Reinvesting the interest amount enables you to earn additional returns on your investments.
Tax Deducted at Source (TDS)
TDS is not applicable if the interest earned is equal to or less than ₹5,000 in a financial year from a single company.
Invest in Fixed Deposit online
| Company Name | Rating | Option | Minimum Investment ₹ | 1 Year | 2 Years | 3 Years | 4 Years | 5 Years | Action |
|---|---|---|---|---|---|---|---|---|---|
| BAJAJ Finance Ltd. | CRISIL "AAA/Stable" & ICRA "AAA (Stable)" | Cumulative | ₹25001 | 7.4 | 7.55 | 7.85 | 7.85 | 7.85 | |
| Mahindra & Mahindra Financial Services Limited | CRISIL AAA/Stable & IND AAA /Stable | Cumulative | ₹10000 | 7.5 | 7.8 | 8.1 | 8.05 | 8.1 | |
| Shriram Finance Limited | AA+ (Stable) by ICRA and AA+/Stable by IND | Cumulative | ₹5000 | 7.59 | 7.87 | 8.38 | 8.47 | ||
| Suryoday Small Finance Bank | CRISIL "A1+" & ICRA "Lowest Credit Risk" | Cumulative | ₹1000 | 8.75 | 9.1 | 8.75 | 9.1 | ||
| Unity Small Finance Bank | CRISIL "A1+" & ICRA "Lowest Credit Risk" | Cumulative | ₹1000 | 8.35 | 8.65 | 8.65 |
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Prudent Corporate Advisory Services Limited
AMFI Registered Mutual Fund Distributor
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* Mutual Fund investments are subject to market risks. Please read all scheme related documents carefully before investing.
Prudent Corporate Advisory Services Ltd. (ARN-9992) makes no warranties or representations, express or implied, on products offered through FundzBazar.com. It accepts no liability for any damages or losses, however caused, in connection with the use of, or on the reliance of its product or related services. Terms and conditions of the website are applicable. Copyright © 2024 Prudent Corporate Advisory Services Ltd.
