Fixed deposits are one of the most popular ways to save money.
Here’s a quick look at how fixed deposits enrich your finances.
The choice between fixed deposits, depends on preferences.
Pension plans lead to long-term wealth creation and encourage dedicated saving for the retirement years
Look for core banking facility in the bank as it will help you deposit/ withdraw money from any place
Liquid funds score on two counts in comparison to bank fixed deposits—tax efficiency and the long lock-in
Liquid funds score on two counts in comparison to bank fixed deposits—tax efficiency and higher liquidity
Tax-saving investments should be used to build wealth as well and not just to save tax
Depending on the kind of taxpayer you are, the documentation and process may vary
The interest earned from savings bank is taxable under the head ‘Income from Other Sources’
As the interest that she is earning from her bank deposits exceeds Rs 10,000, they may be deducting TDS on the same