Bank fastened deposits (FDs) proceed to be widespread funding merchandise not simply amongst senior residents, who’re searching for assured revenue, but additionally amongst buyers who can’t abdomen danger. But over-exposure to FDs isn’t good, and it’s essential assess your asset allocation and targets to determine how a lot cash you must park in them. For occasion, saving to your baby’s greater schooling that’s 15 years away via FDs might not be efficient because the post-tax rate of interest of an FD could not provide you with an actual return (return that’s above the speed of inflation), however in the event you plan to take a vacation in two years, an FD can assist. Before selecting an FD, you must evaluate the rates of interest on supply. Here is an inventory of banks that provide the very best FD charges for deposits as much as ₹ 1 crore over varied tenures.
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