Your money is secure with a Term Deposit. It offers better returns with lower risk. You have two investment choices: Fixed Deposit and Recurring Deposit, allowing you to invest for a duration that can range from a few months up to 10 years.
If you’re seeking a safe investment option, a term deposit could be the perfect fit since it remains unaffected by stock market fluctuations and provides guaranteed returns.
Wondering how to invest and how much? Most banks and financial institutions provide term deposits, giving you the chance to choose between fixed deposits (FD) and recurring deposits (RD). The interest rate you receive when you open the account stays the same throughout the entire investment period.
You can kick off a term deposit with just Rs 1000. The amount you can invest also hinges on your financial situation and how much you want to set aside.
Advantages of Term Deposits
Putting your money into term deposits comes with several perks, like a guaranteed interest rate, which means your risk is minimal. You’ll earn returns over a set period without worrying about stock market ups and downs. With term deposits, you can opt for either a Fixed Deposit (FD) or a Recurring Deposit (RD), depending on your investment duration and expected returns.
When you invest in a term deposit, you can decide when you want to receive your returns. You can choose to get interest monthly, quarterly, semi-annually, annually, or at maturity, based on your needs.
Additionally, if your term deposit exceeds Rs 40,000, you’ll be subject to a 10% Tax Deducted at Source (TDS). If you don’t have a PAN card, the TDS could go up to 20%.
Desclaimer: For any financial invest anywhere on your own responsibility, Times Bull will not be responsible for it.