Bank fastened deposits (FDs) proceed to be fashionable funding merchandise not simply amongst senior residents, who’re searching for assured earnings, but additionally amongst buyers who can’t abdomen threat. But over-exposure to FDs is just not good, and you must assess your asset allocation and targets to resolve how a lot cash it’s best to park in them. For occasion, saving in your little one’s larger schooling that’s 15 years away by way of 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 help. Before selecting an FD, it’s best to examine the rates of interest on provide. Here is a listing of banks that supply the very best FD charges for deposits as much as ₹ 1 crore over numerous tenures.
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