Which Type of FD is Best?
- Posted:24th July, 2024
- Updated:24th July, 2024
The best type of Fixed Deposit (FD) depends on individual financial goals. Here are the different types of FDs:
- Cumulative FD: Ideal for those seeking long-term growth, as interest is compounded and paid at maturity.
- Non-cumulative FD: Suitable for regular income, with interest payouts monthly, quarterly, or annually.
- Tax-saving FD: Offers tax deductions under Section 80C with a 5-year lock-in period.
- Senior Citizen FD: Provides higher interest rates, making it beneficial for retirees.
Consider these factors when choosing an FD:
- Interest rate
- Tenure
- Lock-in period
- Tax implications
Note: It's always recommended to compare offers from multiple financial institutions and make an informed decision on the FD type based on your individual circumstances as well.
Popular FAQs
- How do I obtain a receipt for my Digital Gold payment made online?
- How can I check my premium amount and due dates for Digital Gold online?
- Can I set up recurring payments for my Digital Gold plan?
- Is it safe to make Digital Gold payments online?
- What payment methods are accepted for Digital Gold premiums?
- Can I make payments for my Digital Gold plan online?
- How does Digital Gold benefit customers?
- What happens if a Loan against FD is not paid?
- How to Claim the Fixed Deposit Amount After Death?
- How to Invest in a Fixed Deposit (FD)
Recent FAQs
- What is a Fixed Deposit?
- Does FD pay monthly interest?
- Will I have to pay a penalty to withdraw FD before its time?
- Can I Start an FD online?
- Which Type of FD is Best?
- Can I Deposit 10 Lakhs in FD?
- Does FD Renew Automatically?
- How can I break my FD without penalty?
- What is the maximum time limit of FD?
- Does FD have a lock-in period?
Book a Fixed Deposit & get attractive/ high returns
Most Viewed FAQs
- Can I Get a Gold Loan for Medical Purposes?
- What is the Maximum Tenure for a Gold Loan for Agricultural Purposes?
- What happens if a Loan against FD is not paid?
- How to Claim the Fixed Deposit Amount After Death?
- Can I Get a Gold Loan for Travel Purposes?
- Can I Get a Gold Loan for Educational Purposes?
- What is the Maximum Loan Amount That Can Be Availed by Pledging Gold?
- Can I Get a Gold Loan for Home Renovation Purposes?
- What happens if the depositor passes away?
You may be interested in
- Home
- Financial FAQs
- Which Type of FD is Best?