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Which is the Best Fixed Deposit Scheme in India?

Investors should be aware of the benefits one gets from Fixed Deposits

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Fixed Deposit Scheme, India
The banks that you choose must deliver the highest interest on the amount you give to them.

Fixed Deposits are one of the more common and preferable investment schemes in India. Investors should be aware of the benefits one gets from Fixed Deposits before he or she decides to put money into it. Bank FD rates are risk-free and bring guaranteed high returns to the investor. The advantages of Fixed Deposit depends on the amount deposited, deposit tenure, and type of depositor.

There are certain things that should be noted while finding the best banks for Fixed Deposits:

FD rates

The FD rates are the main focus of any investor, and high FD rates can result in high returns. It depends on the interest paid on the deposited amount that will remain constant until the period of FD decided by the investor.

Fixed Deposit Scheme, India
The earlier people start investing money in Fixed Deposits, the more they can leverage the benefits of saving money and multiplying it with time. Pixabay

Deposit Tenure

The interest rate varies with the tenure of the amount deposited in FDs. Generally, the longer the tenure, the higher will be interest on the fixed deposited amount. The tenure can vary from a few days to years.

Credibility of the Bank

The trust that brings the investors to the banks that might vary for different banks. The customers must make sure that the banks are certified by ICRA or CRISIL. Some banks may not provide services as expected by the investors and deny the task at a crucial time.

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Payout

The customer reaching out the bank must be aware of all the policies related to the Fixed Deposits and interest they will get based on their tenure and deposited amount. The banks that you choose must deliver the highest interest on the amount you give to them.

Withdrawal

The penalty charge in case the depositor unlocks the FD before its tenure. In some cases, the bank can provide services where there are no lock-in period or less penalty for the customer. These types of banks believe in making a bond with their customers and providing good facilities to them.  

Lock-In Period

Most of the banks have a lock-in period where investors are not allowed to withdraw the money deposited in FD. Some banks restrict load from premature FD in case of emergency too.

Transferable Account

Certified banks provide a facility wherein an investor can transfer his or her account to different branches of the same bank.

Tax Deducted at Source

The tax bracket of the investor must be sorted and levied on the interests that are provided on the Fixed Deposits. TDS is applicable even on the Fixed Deposits investments.

Additional Benefits

Some banks provide additional benefits for senior citizens opting for Fixed Deposit. They also provide some beneficial profits in loans for investors with FDs of higher amounts. Some banks and financial companies even allow you to check the status of your Fixed Deposits online.  

Fixed Deposit Scheme, India
Fixed Deposits are one of the more common and preferable investment schemes in India. Pixabay

Figuring out the best banks for FD investments where money multiplies with time and provides interest rates that are lucrative. The safest way of investments which helps in growing the amount of savings and also provides flexibility with high stability. People can choose the period of deposit varying from 12 months to 60 months.

The investments made in FD at a young age is the best part of savings. These savings don’t get affected by any curriculum introduced in the banks. While your returns remain stable, you also stand to get a stable income at the end of the tenure without affecting your savings too much. For some cases you can look into some of the FD rates of Bajaj Finance:

Bajaj Finance FD rates
Tenure FD rates Senior Citizen FD rates
12 months to 23 months 8.00% 8.35%
24 months to 35 months 8.15% 8.50%
36 months to 60 months 8.60% 8.95%

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The variable period of investments is what matters to many people, where Fixed Deposits help the investor to decide the lock-in period and the amount. It makes sure that the customer receives all the services as expected from the bank. The young generation can invest in such schemes for their elders and support them in crisis, as there is no fluctuation in the return money due to market, which changes very often. Some Fixed Deposits cannot be easily molded as per the customer’s requirement, they may stick to the rules and laws made by the higher authorities. For checking some of the benefits and features you might want to visit here. The earlier people start investing money in Fixed Deposits, the more they can leverage the benefits of saving money and multiplying it with time.   

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Mercy for the Nirbhaya Rapists?

Gender discrimination is the root of many evils. While keeping the aspiration of females down, certain males have committed many wrongs in the past.

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Nirbhaya
The Nirbhaya incident in Delhi was “instrumental” in bringing about a kind of gender awareness renaissance in India.

By Salil Gewali

Gender discrimination is the root of many evils. While keeping the aspiration of females down, certain males have committed many wrongs in the past. Apart from various kinds of physical tortures, the mental tortures undergone by defenseless females are endless. Within the confinement of four-walls innumerable sins are still being committed which mostly go unreported. However, it was Nirbhaya’s rape incident in Delhi that was “instrumental” in bringing about a kind of gender awareness renaissance in India. Post-Nirbhaya incident, a lot many changes in the laws have been made. The safety and security of women have been prioritized, the nation-wide the whole police departments have been sensitized, to a greater extent the road transportation has been made women-friendly.

Nirbhaya rape
The public is right and more sensible now to point out the “hard cruelty” with which the gang had sexually tortured Nirbhaya that night.

Thanks to the countless number of protests across the country condemning the six rapists. The people from all walks of life came together and relentlessly pressurized the government that the Nirbhaya convicts must be awarded capital punishment. Media’s contribution in the campaign is immeasurable. Alas, India’s judiciary is so annoyingly slow it has taken over 7 years to pronounce the death sentence.

Nirbhaya rape
Advocate Indira Jaising suggested that the convicts of Nirbhaya rape case could be “forgiven” by the parents.

However, now nothing could be so mind-blowing than the flood of condemnation against the comments by a veteran advocate and social activist Indira Jaising. Without a sense of guilt and potential backlash, she suggested that the convicts be “forgiven” by the parents. Jaising’s idea has clearly touched a raw nerve of the major population in the country. People’s anger is spilled well over social media. What is most noteworthy is the scathing condemnation directly from the horse mouth — the mother Asha Devi. A very bold lady, who determinedly fought for justice for so many years, thunders – “Who is Indira Jaising to give me such a suggestion? The whole country wants the convicts to be executed. Just because of people like her, justice is not done with rape victims,” Asha Devi aptly further adds — “Can’t believe how Jaising even dared to suggest such this; I met her many times over the years in Supreme Court, “not once” she asked for my well-being and today she is speaking for convicts. Such people earn a livelihood by supporting rapists; hence rape incidents don’t stop,”

The latter comments by the Nirbhaya’s mother clearly hint the doubt at the “integrity” of the advocate Ms. Jaising. How on earth that one who has not spoken a word of sympathy in spite of many encounters in the court can reserves the right to suggest that which offends the distressed victim party. Asha Devi deserves a salute for her boldness. Yes, India Jaising is one of the advocates who knocked the door of the Chief Justice of India in the middle of the night in July 2015 in order to seek the mercy for the dreaded terrorist Yakub Menon.

Nirbhaya rapists
In 2015, the Delhi Government proposed to award the Nirbhaya juvenile convicts with Rs 10000/- and a sewing machine.

Again, here is another bombshell to drop which many of us may have forgotten. Can we ever “forgive” for the shocking proposal in 2015 by Delhi Government to award the Nirbhaya juvenile convicts with Rs 10000/- and a sewing machine?  Who has approved such bizarre ideas and which leaders are responsible? What kind of lesson should the citizens take from this?

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I think the public is right and more sensible now to point out the “hard cruelty” with which the gang had sexually tortured Nirbhaya that night. They had used the iron-rod to inflict deep injuries upon the girl which is unspeakable, which is very unpardonable. So, given the increasing cases of rapes and subsequent inhumane cruelty and cold-blooded killings, Capital punishment can be the only answer and “one of the deterrents”. Before the divine retribution, the hard rod of punishment should not be spared at all. 

Salil Gewali is a well-known writer and author of ‘Great minds on India’. Twitter: @SGewali