Saturday, September 23, 2023

Fixed Deposit Interest: Are you also investing in FD, keep these things…

FD Personal Finance Investment: The Reserve Bank of India has increased the repo rate by 0.90 percent twice in the last months. After which banks have increased the interest rates on fixed deposits. As a result, interest rates have increased. Now the biggest question in front of investors is whether this is the right time to invest in FD. You can understand in this news.

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Invest this?
You can invest in Small Savings Schemes, FDs, Target Maturity Funds, Fixed Maturity Plans, Debt Funds.

here is the interest rate on the investment

Scheme                      interest rate
FD                       5.5%
Debt Fund                5.25%-5.45%
PPF                      7.1%
SSY                      7.6%
KVP                      6.9%
SCSS                    7.4%

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Small Savings Scheme

  • Better interest rate than bank deposits
  • Benefits under section 80C
  • Tax exemption on investment up to ₹1.5 lakh
  • Long lock-in period,Low liquidity
  • SSY for girls up to 10 years
  • SSY- Sukanya Samriddhi Yojana
  • SCSS- for citizens above 60 years
  • SCSS-Senior Citizen Saving Scheme
  • EEE benefit in PPF,SSY
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