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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.   

Next Story

Adobe Photoshop on iPad Provides New Opportunities to Youngsters in India

Adobe has also made it possible to import photos directly from your SD card or USB drive into the iOS version of Lightroom

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Adobe
Although Adobe Photoshop on iPad was completely done in the US, the incremental syncing part was achieved in India. IANS

Thirty years and still going strong, Adobe Photoshop remains the most loved design tool for creators and professional designers. Now, iPad lovers in India are thrilled to try their hands on the software tool and let their imaginations fly.

Photoshop on iPad allows young users to craft composites with fingers and retouch images with Apple Pencil. Your PSDs will remain the same, whether you’re working on desktop or iPad.

Adobe Photoshop that arrived on iPads globally in November brings core compositing and retouching workflows to iPad.

For the millennials, this is a great opportunity to become a creative pro as Photoshop on iPad is an intuitive, more accessible entry point to the Adobe tool for new users.

It features full PSD (Photoshop document files) interoperability, a touch-based user interface (UI), Cloud document access, and the power to work on real-world, multi-layered creations.

“We’re excited to push the frontiers of creativity to make everyone more productive and express their creative vision — not only seasoned professionals, but also the next generation of designers, photographers, filmmakers and illustrators,” Scott Belsky, Chief Product Officer and Executive Vice President, Creative Cloud, Adobe, told the gathering at the recently-concluded Adobe Max conference in Los Angeles.

Adobe
Thirty years and still going strong, Adobe Photoshop remains the most loved design tool for creators and professional designers. Now, iPad lovers in India are thrilled to try their hands on the software tool and let their imaginations fly. Pixabay

Open up full-size PSDs on your desktop or iPad and store them in the cloud – no conversion necessary.

You get the same fidelity, power, and performance no matter what device you’re working on, even when you’re designing with thousands of layers.

“Use quick gestures and touch shortcuts to make edits directly on your canvas and speed up your workflow. With context-aware user interface (UI), you display only the core tools and panes you need, so you can focus on your canvas, not the clutter,” says Adobe.

Next up is Adobe Illustrator which is slated to arrive on iPad next year. The teams at Adobe’s Noida R&D centre and Apple’s Cupertino-based headquarters in the US are busy finalizing and preparing for the final release of the much-anticipated product.

“We are already doing complete R&D for Illustrator and InDesign. The upcoming Illustrator on iPad, which has received rave reviews, is entirely being done at our Noida R&D centre,” Shanmugh Natarajan, MD and VP of Product at Adobe India, told IANS recently.

The company has previewed Adobe Illustrator’s future with a reimagined touch-based app that brings the precision and versatility of the desktop experience to iPad.

Although Adobe Photoshop on iPad was completely done in the US, the incremental syncing part was achieved in India.

Adobe has also made it possible to import photos directly from your SD card or USB drive into the iOS version of Lightroom. Previously, users had to import images to their camera roll, then copy them over into Lightroom’s library.

Adobe
Adobe Photoshop on iPad allows young users to craft composites with fingers and retouch images with Apple Pencil. Your PSDs will remain the same, whether you’re working on desktop or iPad. Pixabay

Here are the plans for Indian lovers who want Adobe experience on their iPads. The “Photography (20GB)” plan with Lightroom, Lightroom Classic, and Photoshop is available for Rs 676 a month (excluding GST). If you purchase this plan by January 31, you get Photoshop on iPad for free.

In the “Adobe Photoshop Single App” plan, get Photoshop on desktop and iPad as part of Creative Cloud for Rs 1,420.

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For the “All Apps” plan, get Photoshop on desktop and iPad, plus the entire collection of creative apps for Rs 3,585.

Students and teachers can save over 60 per cent on the entire collection of Creative Cloud apps for just Rs 1,353. (IANS)