Financial institution fastened deposits (FDs) proceed to be widespread funding merchandise not simply amongst senior residents, who’re in search of assured earnings, but additionally amongst traders who can’t abdomen threat. However over-exposure to FDs is just not good, and it is advisable to assess your asset allocation and targets to resolve how a lot cash you need to park in them. As an example, saving in your little one’s greater schooling that’s 15 years away via FDs is probably not 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 if you happen to plan to take a vacation in two years, an FD may also help. Earlier than selecting an FD, you need to evaluate the rates of interest on supply. Here’s a listing of banks that supply the best FD charges for deposits as much as ₹ 1 crore over varied tenures.
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