Bank Fixed Deposit -Best Deals To Invest Money

Fixed  deposit..

The term fixed..means your money is saved for fixed date with fixed interest rate in bank,The bank institution will give your fixed rate of interest on your money for fixed time whatever you want to keep your money in bank.

Its is totally different method to saved your money at bank like saving account.

The rate of interest is varying with vary amount and times,

Means your are keeping your money in fixed deposit for long time then your rate of interest  will decrease.

At the end of time the bank will return your money with interest.

Salient point of Fixed deposit:-

It is way to earn higher rate of interest of money for fixed tenure.

It’s a way to invest  your surplus money 

It’s a secure way to saved your money

The investor will get a certificate about that they have invested money in fixed deposit.

You can plan for your need as well as your time managements.

If your want to extend for new time then you can renew your fixed deposit.

Tax is deducted as per rule of 1961, but you can get relief by giving 15 g form.

There are every bank which are provided fixed deposit scheme.

Time duration of fixed deposit.

Fixed deposit can be opened for minimum 7 days to maximum 10 years ..

Actually many private banks offering 10 years fixed investment.

Compound Interest.

Bank gives interest rate yearly compounding or quarterly compounding.

Interest rate will add to your principle amount.

The best compound interest is given by Private Banks and cooperate companies.

In public sector bank the best fixed deposit is given by “Central bank o of India” of 777 Days Fixed deposit scheme.

Here, How to calculate the amount of fixed deposit.

Annual:

Eligibility of Fixed deposit.

There is nothing special , Anyone can opened this account , if your are minor then give any nominees name,

Any Indian resident can open this account.

Nominees.

This is important part of fixed deposit, You can put the name of  the person who will be eligible to have that money if unfortunately your died or after your death.

Nominees Details required to fill in the fixed deposit form are.

1- Name

2- Age

3- Address

4- Relationship

5- If nominee is minor then submit legal guardian’s details.

Nominees are your legal partner your account. After your death the fund will transfer to nominees account or nominees.

If you don’t have any nominees in your account then the money will be sized by bank , and there will be not any option to claim that money .

Nominees is identifier of your account,

Premature withdrawal.

Sometimes most of peoples need money urgently and they pre-mature withdrawal Fixed deposit. Means before time to completed 

So that time you have to pay penalty,  

Most of banks charges in the form of lower interest rate of costumer is about 0.5 to 1 %.