INSUBCONTINENT EXCLUSIVE:
You can calculate the returns of a fixed deposit on the basis of an FD calculator.Bank fixed deposits, the fixed income instruments that
offer guaranteed returns, allow customers to make a lump sum investment and earn a fixed interest rate
Fixed deposits have a wide-ranging tenors ranging from seven days to 10 years, which means that you can choose the time period for which you
want to lock your investments
Fixed deposits offer assured returns because FD interest rates do not change with market fluctuations
In fact, a fixed deposit can be chosen as per your financial goals, say experts.So say, you want to buy car in three years and want to
arrange for its down payment, you can lock a sum of money in a fixed deposit and calculate its returns on the basis of an FD calculator,
You will then get to know the exact amount that you will get once the fixed deposit investment matures.However, you need to note that income
above Rs 10,000 earned as interest on fixed deposits of all banks or branches put together is taxable
If your total interest income on fixed deposits is below the taxable limit, you can avoid deduction of tax by submitting Form 15G and Form
15H to the bank requesting them not to deduct any TDS or tax deducted at source.Leading banks like State Bank of India (SBI), ICICI Bank,
HDFC Bank and Bank of Baroda (BoB) offer the facility of opening a fixed deposit.Given below is a comparison of FD interest rates offered by
2018Maturity periodGeneral publicSenior citizens7 days to 45 days5.756.2546 days to 179 days6.256.75180 days to 210 days6.356.85211 days to
less than 1 year6.46.91 year to less than 2 year6.77.22 years to less than 3 years6.757.253 years to less than 5 years6.87.35 years and up
publicSenior citizens7 - 14 days3.504.0015 - 29 days4.254.7530 - 45 days5.756.2546 - 60 days6.256.7561 - 90 days6.256.7591 days - 6
months6.256.756 mnths 1 day- 6 mnths 3 days6.757.256 mnths 4 days6.757.256 mnths 5 days- 9 mnths6.757.259 mnths 1 day- 9 mnths 3
days7.007.509 mnths 4 days7.007.509 months 5 days - 9 months 15 days7.007.509 months 16 days7.007.509 months 17 days < 1 Year7.007.501
Year7.257.751 year 1 day - 1 year 3 days7.257.751 year 4 days7.257.751 year 5 days - 1 Year 15 Days7.257.751 Year 16 days7.257.751 year 17
publicSenior citizens7 days to 14 days44.515 days to 29 days4.254.7530 days to 45 days5.5646 days to 60 days5.756.2561 days to 90 days66.591
days to 120 days66.5121 days to 184 days66.5185 days to 289 days6.57290 days to less than 1 year6.757.251 year to 389 days6.757.25390 days
22.08.18)7 days to 14 days4.2515 days to 45 days4.7546 days to 90 days591 days to 180 days5.5181 days to 270 days6.25271 days above and
less than 1 year6.51 year6.65Above 1 year to 400 days6.75Above 400 days and upto 2 Years6.7Above 2 Years and upto 3 Years6.6Above 3 Years
and upto 5 Years6.7Above 5 Years and upto 10 Years6.6(Source: bankofbaroda.com.)Some banks also offer partial withdrawal and loan facilities
on fixed deposits.Recently, the government hiked interest rates on small savings schemes, which also include fixed deposits.
