In today’s society, where there is a dearth of jobs that assure you stability in income except in Government jobs, a fixed deposit is more than a necessary personal investment. All the leading banks in India offer fixed deposit schemes to help people make a saving for the future. With so many options and products, in the fixed deposit category one can be confused and clueless unless you have access to ample information on the same. One way of insuring that, is by opening a fixed deposit account online and maintaining it online. Not only does it allow you to compare products and gain access to kinds of information as well as helps clear queries but make the application and maintenance processes easier for the account holder.
There are 3 main types of fixed deposits available from a bank online:
Here are 5 things you need to know and make sure of, before you opt for an online fixed deposit scheme from a bank:
Yet with so many things to ensure fixed deposit is a safe and secured personal investment method especially when you have it online. Here are the reasons, why:
It is very easy to apply for an FD online and one can do this through net banking or fill out an online application form. Many banks provide the facility to customers to open a term deposit online.
You can apply with the help of any digital payment options, be it credit card, ATM/ Debit Card and net banking. You can also link your bank account where the funds are pulled out automatically and you are simply notified about the payment.
Some banks offer extra benefits when you apply for a fixed deposit online. This includes loan facilities in case of emergencies and insurance aids like personal accidental cover etc.
Under the Section 80C of the Income Tax Act, of India, a fixed deposit investment of up to a maximum of Rs.100,000 for up to 5 years have eligibility for tax deductions. You can file the tax deduction information in your income tax returns portfolio online. The tax saving fixed deposits are especially good for saving money and tax at the same time.
Though the returns or rates of interest that you are paid are not very high, it is safe against other options such as Gold or company equities. Banks offer enough security of your money if they institution is old and has a high credit rating.
So, what are you waiting for? Check out the wide variety of fixed deposit schemes offered on BankBazaar from different banks and financial institutions and choose the fixed deposit that suits your need, the best.