Tuesday, November 5, 2024

Investment Advice: If you’re going to make a fixed deposit in the bank, make sure you understand its specific features so you can reap the benefits.

Most banks also give credit cards to their customers in exchange for the money they deposit. This ceiling is still about 80% to 85%. Explain that persons with no credit history can also benefit from a credit card.

Fixed Deposit Tips: Financial gurus frequently advise customers to invest at the start of the fiscal year to save money on taxes. This allows you to invest wisely and avoids the risk of making a hasty mistake. Many people dislike taking risks when it comes to investing. If you want to invest for safe and higher yields in this situation, the Fixed Deposit Scheme is a terrific solution.

You can obtain a refund of up to Rs 1.5 lakh if you invest in this scheme. This tax break is offered under Section 80C of the Internal Revenue Code, but did you know about the other advantages of the Fixed Deposit Scheme? So here’s what we’ve got to say about it:

Read More: NPS Account: The more salary, the more pension you will get… how would you say? just do this work

Investing in a fixed deposit scheme has a number of advantages.

  1. By investing in fixed deposit schemes, many banks provide health insurance advantages to their customers. Customers of ICICI Bank, DCB Bank, and HDFC Bank can get health insurance.
  2. The majority of banks also give credit cards to their customers in exchange for the money they deposit. This ceiling is still about 80% to 85%. Explain that persons with no credit history can also benefit from a credit card.
  3. Investing in FDs does not result in a liquidity shortage. If you need money right away, you can break the FD and make money right away.
  4. You will save money on taxes if you invest in this strategy. You will receive an exemption from income tax under section 80C if you invest in this plan. This exemption is available on a five-year fixed-rate mortgage.
  5. Investing in FDs provides you with assured profits. It steers clear of market dangers. In addition, if the bank defaults after depositing the funds, the investors will receive a return of at least Rs. 5 lakhs.
  6. If you have money invested in a bank’s FD scheme, you can simply receive a loan from that bank in this case. These individuals can receive up to 90% of the total deposit amount. However, keep in mind that the interest rate is 1 to 2 percent more than the FD interest rate.
spot_img
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Latest

X changed its monetization policy, Elon Musk made a big change

The social networking platform X has decided to modify its artists' monetization approach. Users will now be less reliant on adverts as a result...

New feature given in the KTM 250 Duke, comes for Rs 2.5 lakh

The KTM 250 Duke's latest version is on the market. The TFT LCD on the KTM 250 Duke is new. Along with this, LED...

Apple to launch iPad Mini 7 on this day! know the details before launch

The iPhone 16 series is the newest iPhone series that Apple has released. Apple released four phones in this series: the iPhone 16, iPhone...

EMI to remain expensive, RBI makes no changes in the repo rate

The burden of high EMI is not alleviated. The 6.50 percent policy rate has been sustained by the Reserve Bank of India. This declaration...

Assistant Professor Recruitment in Delhi University, this is the last date

An announcement for Recruitment has been made by Delhi University for the position of Assistant Professor. The University (DU) has made this position available...

Most Popular

Subscribe

* indicates required