If you are planning to invest in FD on the occasion of Diwali. In such a situation, this news is especially for you. FD is the first choice of investment for most people in the country. Many people consider fixed deposit schemes as a safe investment option as they offer guaranteed returns. For this reason, a fixed deposit scheme is the first choice of investment for millions of people. Many government and private banks in the country are operating fixed deposit schemes at different interest rates. It is worth noting that many people in the country invest in fixed deposit schemes without knowing some specific things. In this series, today we are going to tell you about some important things, which you should keep in mind while investing in FD. Let us know -
Rate of interest
Before investing in any fixed deposit scheme, you must check its interest rates. Apart from this, you should be aware that on investing in FD, senior citizens get an additional interest rate of 50 basis points.
Investment period
If you are going to invest in FD. In such a situation, you should take special care of the investment period of that FD scheme. Generally, people get higher interest rates if they invest in FD for a longer period (1 to 3 years).
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Lock-in period
You should be aware that after investing in FD, your money gets locked in. In such a situation, once you invest your money, you cannot withdraw the money until the tenure of your FD scheme is completed. If for some reason you withdraw money from FD in between. In such a situation, you do not get an interest rate on it.
Taxable income
Very few people know that the returns you get on the money you invest in fixed deposit schemes come in taxable income.
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