Bank mounted deposits (FDs) proceed to be widespread funding merchandise not simply amongst senior residents, who’re searching for assured earnings, but additionally amongst buyers who can’t abdomen danger. But over-exposure to FDs is just not good, and you could assess your asset allocation and targets to determine how a lot cash it’s best to park in them. For occasion, saving on your baby’s increased schooling that’s 15 years away by way of FDs will not be efficient because the post-tax rate of interest of an FD might not offer you an actual return (return that’s above the speed of inflation), however should you plan to take a vacation in two years, an FD may help. Before selecting an FD, it’s best to examine the rates of interest on provide. Here is a listing of banks that supply the best FD charges for deposits as much as ₹ 1 crore over varied tenures.
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