Fixed Deposit Rates: It is often seen that people get FD done just by looking at the interest rate, but doing so is not right. Before getting FD, many things should be kept in mind including the tenure and the tax exemption on investment in it. If you are planning to get FD in the bank, then you should know about some things before investing. Let us know about it in detail in the news.
Khabar TV (Bureau) – For better savings, investing in bank FD is considered the best investment option. The biggest reason for this is the features like high interest, safe returns and getting money back whenever you want, hence Fixed Deposit is considered the favorite investment tool of investors.
However, if you invest money in FD smartly by understanding the bank rules, you will not only get higher returns but the chance of losing money will also be zero, even if the bank goes bankrupt. Some smart investors use 3 tricks for this and enjoy higher interest and liquidity (Best investment option).
It is not that the bank has given them any separate facility. They have just changed the method of investing in FD. They take full advantage of the rules made by the Reserve Bank and make risk-free investments. If you also adopt these three smart methods while investing your money in FD, then you will also benefit a lot.
Do not invest all the money in a single FD
You should not invest all your money in a single FD (latest fd news). Divide the amount of money you want to invest in FD. Instead of investing all your money in a fixed deposit of the same duration, divide that money into three parts. Invest your money in different fixed deposits.
Get FD done in different banks
There is a difference in the FD interest rates of banks. Small banks usually give higher interest than big banks (Method of investing in FD). Therefore, instead of making FD in a single bank, you should make FD in different banks.
You can make FD of small amount in small bank. One advantage of making FD in many banks is that if any bank collapses, then your entire money is not lost.
There is a security guarantee of Rs 5 lakh on bank deposits. This guarantee is given by RBI’s subsidiary Deposit Insurance and Credit Guarantee Corporation (DICGC). This means that no matter how much money you have deposited in a bank, if the bank collapses, you will get back only Rs 5 lakh.
If you have accounts in several branches of the same bank and the amount deposited in them is more than five lakh, then also only five lakh rupees will be returned. That is why you can secure your money by making FDs in different banks.
There is a difference in the interest rates of FDs of different tenures. By making FDs in this way, you will get interest on your money in three ways and it will be more than the interest you get by investing in a single tenure FD.
If we have invested money in FDs of multiple tenures, then one or the other of our FDs will keep maturing at short intervals. This will also ensure that we do not face any shortage of money.
Also, if we suddenly need money, we will be able to withdraw from an FD in between. Since our entire fund is invested in different parts, we will suffer less loss on premature withdrawal.