Good news for those who want safe ways to save money in their wife’s name. Fixed deposit (FD) can be a good option. You can get good returns in 2 to 3 year FDs. This is a safe investment and does not depend on market changes. You can get financial security. Your money will be safe and sure. Invest in this strong and safe project.
SBI FD: Safe and Good Investment
State Bank of India’s FD is a very important way to invest money. It is safe and gives good returns. The interest rate for 2–3 year FD (35 months) is 6.45%.
If you invest Rs 2 lakh in your wife’s name, you can get many benefits. You will get guaranteed money after maturity. This investment is safe and helps to meet financial needs. It also helps create a better future. Using SBI’s FD calculator, you can see how much you will get. For example, Rs 2 lakh at 6.45% for 2–3 years will become Rs 2,41,034.90. You will earn Rs 41,034.90, which is completely safe.
FD up to Rs 5 lakh has a government guarantee, so anyone can invest easily. You can also invest in your own name. Usually, FD interest is added to income and taxed. Most wives are in low tax bracket or housewives, so they may not pay tax. If FD interest is more than Rs 40,000 in a year, the bank deducts 10% TDS. But if the wife’s income is low, she can file Form 15G to avoid tax.
If your wife’s name comes first in a joint FD, the interest goes to her name and you may pay less tax. Planning this way gives good returns and helps save on tax.