About Fixed Deposit
· Fixed Deposit is one of the most preferred investment options among conservative investor who need fixed and regular income.
· Fixed Deposit also popularly known as Term Deposit is an investment option wherein interest rate is fixed for a predefined term.
· Deposits placed by an investor with companies are known as Company Fixed Deposit. These deposits are accepted by manufacturing companies, financial institutions and non-banking finance companies. Deposits mobilized by these companies are governed by the Companies Act u/s 58A.
Basic Info About Fixed Deposit
· The tenure of company FDs can range from a few months to a few years.
· You can choose from monthly, quarterly, half-yearly, yearly or cumulative interest payment option.
· The interest income rate earned on FD is added to your income and is taxed as per your income tax slab.
· In cases where the annual interest income exceeds Rs 5,000; TDS will be deducted by the company.
· If you do not want the TDS to be deducted, you need to submit form15G/H with the company.
· Click here to download Form 15G OR Form 15H
How does Fixed Deposit work?
· 100% online process. Quickest way to book an FD in 3 simple steps
· Choose the company & tenure to invest in FD
· Select the client to invest in Primary or Joint names
· Enter the amount to invest and make payment
· Maturity amount will be credited to the bank account registered with FundzBazar