About Fd

[NILESHTIKOLE]

Good Morning All Mere Pass 19 Lacs Rs Hai Mujhe Usko Fd Me Rakhna Hai But safe & Secure With Highest Rate Of Intrest Aur Monthly Intrest Payment Chahiye Anyone Know Best Idea To batao Mene Khud Research Ki Hai IndusInd Bank Kaisa Rahega Baki Big Bank Offer Low Rate Of Intrest

 

[ShavirB]

Good Morning All Mere Pass 19 Lacs Rs Hai Mujhe Usko Fd Me Rakhna Hai But safe & Secure With Highest Rate Of Intrest Aur Monthly Intrest Payment Chahiye Anyone Know Best Idea To batao Mene Khud Research Ki Hai IndusInd Bank Kaisa Rahega Baki Big Bank Offer Low Rate Of Intrest

Typically Small Finance Banks (Jana Small Finance, Equitas, etc.) offer higher interest rates of FDs. And amounts upto 5 Lakhs (Principal + Interest) is 100% secured by RBI. So you can split this amount in 4 parts and book FD with 4 different Small Finance Banks

 

[NILESHTIKOLE]

Is That Possible sir I Mean 4 Accounts In Banks

 

[NILESHTIKOLE]

btw Sir 2 NBFC Or 2 Small Finance Bank Account Kaisa rahega. Reputed NBFC Like SHriram & Bajaj Finance

 

[17ysaurabh]

btw Sir 2 NBFC Or 2 Small Finance Bank Account Kaisa rahega. Reputed NBFC Like SHriram & Bajaj Finance

No, FDs are not insured in NBFCs.
It is only applicable to banks.

 

[gspots]

I suggest stable money app.
No need to open account, fd opening and kyc online
Last suggestion - please note that amounts upto 5 Lakhs (Principal + Interest) is 100% secured by RBI
So either withdraw monthly interest from the FDs or create 4 FDs for 4L each + 1 FD of remaining 3L

 

[zacobite]

Typically Small Finance Banks (Jana Small Finance, Equitas, etc.) offer higher interest rates of FDs. And amounts upto 5 Lakhs (Principal + Interest) is 100% secured by RBI. So you can split this amount in 4 parts and book FD with 4 different Small Finance Banks

Good answer.. completely agree.. another aspect is if FD Interest in one bank is less than 50k p. a then no TDS also.. so 5L per bank is great for max safety.. any 4 banks.. IDFC, Indusind give higher rates in pvt. banks.. Small finance you can explore..

 

[saurabh.s]

another aspect is if FD Interest in one bank is less than 50k p. a then no TDS also..

The TDS is Rs 40,000 for individuals other than a senior citizen, in the case of senior citizen the threshold is Rs 50,000.
Also, I believe the TDS limit is calculated on PAN not per bank a/c.

 

[zacobite]

The TDS is Rs 40,000 for individuals other than a senior citizen, in the case of senior citizen the threshold is Rs 50,000.
Also, I believe the TDS limit is calculated on PAN not per bank a/c.

TDS is at bank level per PAN... hence the split between banks for no TDS..40k/50k is right.. i shd have been more specific...