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Know how to make the most of fixed deposits 

During the term of the deposit, a fixed deposit provides a guarante rate of return, there are several ways in which you can earn more through a fixed deposit. 

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Read on to learn how you can get the maximum benefit from investing in a fixed deposit:

How to Apply for A Fixed Deposit

FD means a Fixed Deposit account with a bank for a fixed amount, tenure, and rate of interest. . Starting a fixed deposit account is open to all Indian citizens residing in the country.  Fixed deposits can also be open by a Hindu Undivide Family, partnership firms, clubs, family trusts, sole proprietors, associations, companies, and societies.

The only documents require include the latest photograph along with the KYC documents. Opening the fixed deposit is easier and it can be complete in simple 3 steps :

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Step 1 – Fill in the personal details of the applicant, and a dependable beneficiary. Peruse the fixed deposit options available to you and choose the best one for yourself, fill in the amount to be deposite, tenure, and plan Step 3 – The last step of opening a fixed deposit online after you have fill in all details and upload your documents, is the payment of the principal amount. 

Fixed Deposit Online: 

Open a fixed deposit account online allows you to browse through multiple options and choose the bank that is offering the highest rate of interest. Furthermore, many banks likewise offer higher rates of return on fixed deposits.

Do Not Break your Fixed Deposit: 

Large banks and financial institutions agree to fixed deposits with a fixed time tenure. This implies that you need to pay a fine if you choose an early withdrawal. This will diminish the maturity sum of money accessible to you on the expiry of the period of the fixed deposit.

Start Fixed Deposits in your Parents’ Names: 

If your parents are senior citizens, you can start a fixed deposit in their names and earn higher rates of interest which are available exclusively for senior citizens.  Global Top Trend 

Cumulative Fixed Deposits: 

Cumulative FDs make certain regular payouts, and a non-cumulative FD, ensures a higher amount is available to you upon maturity. While a cumulative FD can build a larger amount for you, as the fixed deposit interest rates paid to you are again invest together with the principal amount.

How do you choose the best option?

After understanding what a fixed deposit is, it’s time to learn how to invest wisely. 

Here are some hints:

  • Before committing to any plan, undertake a significant market study.
  • Compare all of the lenders’ alternatives thoroughly.
  • Determine if a cumulative or non-cumulative investment is best suit to your goals and financial situation.
  • Learn about the lender’s reputation, where they stand in the market, and why they are giving such a high return on investment.
  • Look for a reputable financial institution with a simple onboarding procedure, solid functionality, and excellent customer service.


Unlike popular belief, fixed deposits are flexible. Overdraft 90% of your fixed deposit. Use what you need and simply pay interest.

Use sweep-in to increase profits. Your FD money will be remove if your savings or current account cannot meet a payment request. The bank’s fixed deposits limit withdrawals to a specific amount. to reduce interest loss.

Pick Tax-saving Fixed Deposits: 

There are several kinds of fixed deposits available to investors, and while some allow for tax savings, others do not. Ensure that you go through all the available options before you put your money in a fixed deposit. Choose to pick the one that fetches you the highest tax-saving benefits.

Submit forms 15G and 15H 

If you see TDS being cut, submit forms 15G and 15H, if you do not have taxable income. This would ensure that tax is not deduct, and your return would improve. However, this has to be submit only when your net income is below the threshold limit of Rs 2.5 lakhs. 

The form needs to be fill, out to inform the tax authorities not to deduct the tax, as your income is below Rs 2.5 lakhs.  Trending Update News


The decision to put one’s money into a more secure vehicle, such as a fixed deposit, in which one’s returns are guarantee, looks to be advantageous. Fixed deposits are unquestionably one of the oldest and most dependable methods of accumulating money. Before making a deposit, compare fixed deposit interest rates and choose which deposit type is best for you.

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