- Which type of FD is best?
- What is the interest of 1 lakh in post office?
- Can I deposit 4 lakhs in my account?
- Which bank is best for FD 2019?
- How safe is fixed deposit in banks?
- Is FD tax free?
- Which is better Post Office FD or bank FD?
- Can I deposit 3 lakhs in my account?
- Is Yes Bank FD safe now?
- Is SBI bank safe?
- Do we need bank account for FD?
- Is Post Office FD safe?
- Can I double my money in 5 years?
- Can I deposit 5 lakhs in my account?
Which type of FD is best?
List of 10 best FD schemes for 3 yearsShriram City.
ICICI Home Finance.
The annual percentage rate paid by ICICI Bank on FDs opened for a period of 3 years is 6.00% p.a.
The rate of interest paid on HDFC Bank FDs for a 3-year tenure is 6.00% p.a.More items….
What is the interest of 1 lakh in post office?
InstrumentInterest rate (%) from 01.07.2020Max amt (Rs)Post Office Monthly Income Scheme6.60Single: 4.50 lakhPost Office Monthly Income Scheme6.60Joint: 9 lakhKisan Vikas Patra6.90No limitRecurring Deposits5.80No limit6 more rows•Aug 4, 2020
Can I deposit 4 lakhs in my account?
No, You can not deposit the amount of Rs 3 lakh in any bank account without quoting your PAN Number. … 49,995/- has to be deposited mandatorily with a PAN Card only. As more than this amount will include reporting to reported to Income tax dept. There might be charges for deposit which might differ from bank to bank.
Which bank is best for FD 2019?
Best FD Rates by Top BanksBankHighest FD Rates* (p.a.) – 1 yearRBL Bank7.00%7.50%Axis Bank5.45%6.10%DBS4.15%4.15%IDFC First Bank6.75%7.25%13 more rows•May 11, 2020
How safe is fixed deposit in banks?
Bank Fixed Deposits (FDs) are generally safe investments because FDs up to Rs 1 lakh are insured under the Deposit Insurance & Credit Guarantee Scheme of India.
Is FD tax free?
Interest income from Fixed Deposits is fully taxable. Add it to your total income and get taxed at slab rates applicable to your total income. You can see it under the head ‘Income from Other Sources’ in your Income Tax Return. … So, if you have a FD for 3 years – banks shall deduct TDS at the end of each year.
Which is better Post Office FD or bank FD?
Post office time deposits The interest earned is fully taxable and to be added to one’s ‘Income from other sources’ as in the case of bank FD. There is complete safety as the entire amount in post office time deposit is backed by a government guarantee. Even the interest rate is higher than bank FD in most cases.
Can I deposit 3 lakhs in my account?
If you are an individual owning a proprietary business and have deposited, for instance, Rs 3 lakh in the denomination of scrapped currency notes in your account after demonetisation, you can declare in your tax return for the assessment year 2017-18 that the amount is part of your past savings.
Is Yes Bank FD safe now?
Account holders should know that deposits with Yes Bank are insured for up to Rs 5 lakh by the DICGC. DICGC insures all deposits such as savings, fixed, current, recurring, etc. … The deposits in the joint account and his individual accounts will be insured separately under the DICGC rules for a maximum of Rs 5 lakh.
Is SBI bank safe?
“Take for instance, SBI which is amongst the top 100 banks of the world. It is as safe as it gets in terms of a bank. The m-cap ratio of SBI is an order of magnitude higher than the private sector banks which shows that m-cap ratio is a wrong measure to assess the safety of the bank,” Subramanian said.
Do we need bank account for FD?
Some banks may allow you to open an FD account without having to open a savings bank account. However, you will be required to undergo know-your-customer (KYC) process in case the bank allows you to place a FD without a savings account.
Is Post Office FD safe?
However, post office term deposits are totally risk-free as they are backed by the government. Bank FDs are insured only up to R1 lakh. … If you are looking for a safe investment, bank FDs are suitable for you.
Can I double my money in 5 years?
The Rule of 72 shows you how quickly you’ll double your money. All you have to do is divide 72 by the interest rate it’s earning. This is the number of years it will take for your money to double. … Or, if your money is earning a 5 percent interest rate, you’ll double it in 14.4 years (72 divided by 5 equals 14.4).
Can I deposit 5 lakhs in my account?
Individuals who deposit cash above Rs. 2.5 lakh and senior citizens who deposit cash above Rs. 5 lakh may be scrutinised. Any amount within the specified limit will be excluded from scrutiny considering that the money is from household savings, cash withdrawals, earlier income, and so on.