FD Investment Tips: Indian investors prefer investing in fixed deposits (FD) as a safe investment option. By investing in FD, they get returns at fixed interest rates, and their money also remains safe.
This is why many investors choose FD. If you are also planning to do FD, then by keeping some important things in mind, you can get higher returns on your FD. Let us know about some such tips…
1. Select the right period
You should decide the tenure of FD according to your needs. If you need money only after some time, then choose short term FD. At the same time, if money is not needed for a long time, then long term FD may be right for you. The bank offers interest according to the tenure.
2. Compare interest rates of different banks
Interest rates on FD may be different for different banks. Therefore, FD should be done only after comparing banks. So that you can get higher interest rates. Also, there should not be any kind of financial loss.
3. Choose tax saving FD
While investing in FD, one should choose such FD on which tax saving is available. Investing in 5 year FD can be an option. You do not have to pay tax on tax saving FD. Due to which the return on your investment increases.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
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