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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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Rs 199 India’s Mobile-only Plan a Great Success: Netflix

Netflix added 6.8 million subscribers in the third quarter of this year internationally, compared to seven million it had forecast, even as the streaming giant braces for stiff competition as Apple and Disney prepare to launch similar services

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Netflix recently introduced a binge-watching contract for couples and families to regulate the way they watch TV together. Pixabay

Ecstatic at the success of its Rs 199 mobile-only plan that it launched in India in August, Netflix is going to replicate the plan in other global markets too, the company’s Chief Product Officer Gregory K Peters has said.

The Rs 199 mobile subscription plan in the Indian market is Netflix’s fourth Indian plan, in addition to the existing basic, standard and premium plans which are priced between Rs 499 and Rs 799.

“We’ve been very, very happy with the mobile plan. It’s actually performing better than we tested. We’ll look at testing that in other markets because we think there are other markets which has similar conditions that make it likely that that’s going to be successful for us there as well,” Peters said during the streaming giant’s Q3 earnings call with analysts on Wednesday.

“We think about revenue is the guiding principle for as we do these different tests and trying to figure out, what is the right set of plans that have the right benefits, the right features that are delivered at the right price for the subscribers in any given market.

“And I think what we’re exploring is as we are operating in markets that have very, very different conditions, very different levels of affluence and other forms of entertainment competition, etc,” he added.

netflix
FILE – The Netflix logo is seen on their office in Hollywood, Los Angeles, California. VOA

Peters said the company is also going look at other plan structures and other feature value benefits in see different market conditions.

“We’ll see them as we roll out and we’ll respond to them based on what our consumers in those markets,” the Netflix executive said.

Neflix also said the second season of ‘Sacred Games’ has been its most watched show in the country.

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“To date, we have globally released 100 seasons of local language, original scripted series from 17 countries and have plans for over 130 more in 2020. We also plan to expand our investment in local language original films and unscripted series,” said the company.

Netflix added 6.8 million subscribers in the third quarter of this year internationally, compared to seven million it had forecast, even as the streaming giant braces for stiff competition as Apple and Disney prepare to launch similar services. (IANS)