Evaluate your financial institution FD charges
Financial institution fastened deposits (FDs) proceed to be fashionable funding merchandise not simply amongst senior residents, who’re on the lookout for assured revenue, but additionally amongst buyers who cannot abdomen danger. However overexposure to FDs isn’t good, and you’ll want to assess your asset allocation and targets to determine how a lot cash it’s best to park in them.
For example, saving in your kid’s larger training that is 15 years away by FDs is probably not efficient because the post-tax rate of interest of an FD could not offer you an actual return (return that is above the speed of inflation). However if you happen to plan to take a vacation in two years, an FD may help.
Earlier than selecting an FD, it’s best to examine the rates of interest on supply. Here’s a checklist of banks that provide the very best FD charges for deposits as much as ₹1 crore over varied tenures.
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Up to date: 15 Nov 2023, 10:04 AM IST
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