Bank fastened deposits (FDs) proceed to be widespread funding merchandise not simply amongst senior residents searching for a assured earnings, but in addition amongst buyers who cannot abdomen threat. But overexposure to FDs isn’t good, and you might want to assess your asset allocation and targets to determine how a lot cash you must park in them.
For occasion, saving to your kid’s larger schooling that is 15 years away by means of FDs might not be efficient because the post-tax rate of interest of an FD might not offer you an actual return (return that is above the speed of inflation).
But for those who plan to take a vacation in two years, an FD may also help. Before selecting an FD, you must evaluate the rates of interest on supply. Here is a listing of banks that supply the % highest FD charges for deposits as much as ₹1 crore over varied tenures.
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Updated: 11 Oct 2023, 10:18 AM IST