പലിശ നിരക്കിന് പുറമേയുള്ള ഫിക്സഡ് ഡെപ്പോസിറ്റിന്റെ ഗുണങ്ങൾ
BENEFITS OF FIXED DEPOSIT BEYOND THE INTEREST RATE
When you deposit your money as a fixed deposit, you should not consider the interest rate as the only criterion. The investor also gets other benefits like insurance, healthcare, and tax deduction. An income tax deduction is available for fixed deposits above five years. Experts are of the opinion that bank fixed deposits is the best choice considering the market turmoil and volatility.
Bank fixed deposits are one of the lowest risk investment schemes. This is also a wise choice while considering the market fluctuations of past experiences. The most important feature of bank fixed deposits is the solid returns in the future.
In addition to interest rates, bank fixed deposits offer the investor some other benefits also. Let’s see what they are.
- The investor is eligible for an overdraft facility on bank fixed deposits. Investors can avail of this overdraft facility when urgent financial needs arise.
- Today many banks offer many value-added services on fixed deposits. It provides value-added services such as insurance and healthcare services to regular investors.
- Investors are entitled to tax deduction under Section 80C of the Income Tax Act, 1991.
- Unlike other asset deposits, the return on fixed deposits does not fluctuate.
- Fixed investments help a person develop investment saving habits at an early age.
- The investor can also invest a small amount in fixed investment schemes for a short period of time. Such investments can be made for a short period of 15 days to 3 months.
Starting a bank fixed deposit these days is by no means a complicated process. This is something that can be easily accomplished by anyone. No need to go directly to the bank or stand in queues for hours to start fixed deposits now. You can easily start a fixed deposit by spending a few minutes on your mobile phone or computer during this internet age.