A fixed deposit is a type of deposit in which the capital invested stays locked in till maturity. In return Cheap Cody Barton Jersey , a fixed rate of interest is paid out to the depositor. This interest can be paid monthly, quarterly or on maturity of the fixed deposit. An FD is one of the most popular investments offered by banks and the post office. Opening an FD is extremely simple and can be done both online and offline. With advances in mobile banking, it is possible to open a fixed deposit with the help of the bank鈥檚 mobile banking app as well in a matter of a few minutes. A fixed deposit is one of the most popular investment options in India and is preferred by many people Cheap D.K. Metcalf Jersey , especially senior citizens.
Here are 5 reasons why a fixed deposit is the best investment:
1. Easy accessibility: A fixed deposit is easy to open and can be opened for amounts as low as Rs. 500. It is not necessary to have a savings bank account in the bank where you want to open a fixed deposit. It is possible to deposit your funds and open a fixed deposit as well. This makes it extremely convenient and easy for all types of depositors to open a fixed deposit. To open a fixed deposit, you just need to visit the bank branch and fill in a fixed deposit account opening form. You may need to submit KYC documents in case you are not a customer with the bank. Once this is done, you need to deposit funds and the fixed deposit will be opened.
2. Assured rate of return: One of the best advantages of opening an FD is the assured rate of return. The depositor knows in advance the rate of return on the fixed deposit. This helps a lot while investment planning. Banks display their fixed deposit rates for different tenures on their website and at their branches.
3. Extra benefits for senior citizens: Senior citizens get an additional 0.5% return on investments made in a fixed deposit. This is beneficial for them since a greater return helps with planning their incomes. Some banks offer additional benefits to senior citizens who open fixed deposit accounts with them.
4. Tax benefits: Under Section 80C of the Income Tax Act Cheap Marquise Blair Jersey , any investment made in a 5 year tax saving fixed deposit gets a deduction. This deduction is up to Rs. 1,50,000. Depositors can take advantage of this and save on their taxes.
5. Flexible tenure and amount: As an investment Cheap L.J. Collier Jersey , a fixed deposit is excellent simply because of the flexibility it gives the depositor. Any amount is allowed as a fixed deposit subject to the minimum requirements of the bank. The tenure also can be freely decided by the depositor based on the minimum tenure fixed by the bank. These two options make it possible for a depositor to open an extremely short tenure fixed deposit and earn some interest. It is also possible to opt for a sweep in facility where additional funds above a particular limit in savings account get converted into a fixed deposit. Whenever funds are needed, the fixed deposit gets liquidated and the customer earns interest for the time the fixed deposit was active.
Total Views: 2Word Count: 531See All articles From Author
Tata Motors鈥?Tata Nano created hysteria long before its launch due to its small size and meagre price, the hatchback was commonly known as 鈥榣akhtakia Car鈥?when it was first showcased at the 2008 Auto Expo. In 2009 Cheap Michael Dickson Jersey , the petite hatchback from Tata Motors was launched in India and got immense response from the Indian customers. Though the sales started falling and kept on slumping month after month. Tata Motors rolled out lot of lucrative offers and organized rallies to promote Tata Nano hatchback. Tata Motors also started exporting Nano hatchback to neighbouring countries like Sri Lanka, Nepal and Bangladesh.
Tata Motors is now developing the Tata Nano diesel and Tata Nano CNG version which the auto maker wishes to launch soon in India. Tata Nano price for the petrol version is priced at Rs 1.51 lakh (ex-showroom price). Tata Nano CNG version was also displayed at the 2012 Auto Expo earlier this year in the month of January in New Delhi. Tata Motors diesel version is likely to be extremely fuel efficient with a whopping expected mileage of 40kmpl. If Tata Nano diesel can run 40kmpl it sure is going to outshine all its rivals like Maruti Alto and Hyundai Eon.
Tata Nano鈥檚 rivals, Maruti Alto and Hyundai Eon are priced much more than Nano but are registering much more sales than Nano. Specially the Maruti Alto hatchback which is the best selling hatchback in the A segment for a long time. Hyundai Eon launched in Indian car market last year in the month of October Cheap Shaquem Griffin Jersey , though thus hatchback has also not been able to outpace Maruti Alto but is getting much better response than Tata Nano. Hyundai Eon is garnering around 11,000 to 12,000 unit sales every month. Several incidents of Tata Nano being burnt have been seen of late Cheap Chris Carson Jersey , the company recalled the hatchback to mend the problem in order to put a stop to such incidents. In December 2012, Tata Motors launched the new version of Nano, Tata Nano 2012 with some changes here and there. The car now engenders 38BHo of power and the company has done numerous changes in the hatchback which makes it a better buy now. Tata is still working hard to up Tata Nano sales in India. Tata Motor鈥檚 Chairman Cheap Russell Wilson Jersey , Mr. Ratan Tata had high hopes from Nano and this was his dream project. Though the ca received a lot of criticism from the car experts but he has not quit yet. The company is working hard to make Nano a desirable and affordable car rather than just being tagged as a cheap car.
We can all remember being in that weird period of time between childhood and adulthood and for some young people, this transitioning time is particularly testing.