Deposit Details
Min ₹1,000
₹1.00 L
1% - 15%
1 - 25 Years
Maturity Amount
₹1.41 L
Invested Amount₹1.00 L
Total Interest₹41,478
Breakup
You invested ₹1.00 L
You earned ₹41,478 as interest
* Interest calculated with Quarterly compounding.
About Fixed Deposits (FD)
A Fixed Deposit (FD) is a financial instrument provided by banks and NBFCs which provides investors a higher rate of interest than a regular savings account, until the given maturity date.
Key Features
- ✓Guaranteed Returns: FDs offer fixed and guaranteed returns, making them one of the safest investment options.
- ✓Flexible Tenure: You can choose a tenure ranging from 7 days to 10 years based on your goals.
- ✓Compounding: Interest is usually compounded quarterly, helping your money grow faster.
Taxation (TDS)
- ✓TDS Deduction: Banks deduct 10% TDS if interest income exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year.
- ✓Form 15G/15H: You can submit these forms to avoid TDS if your total income is below the taxable limit.
- ✓Tax Saver FD: 5-year Tax Saver FDs qualify for deduction under Section 80C (up to ₹1.5 Lakh).