Decode Fixed Deposits with Apnapaisa compare quotes
Aug 10, 2010

Decode Fixed Deposits with Apnapaisa compare quotes

Fixed Deposits (FDs) are one of the safe instruments to earn interest on cash which people generally do not need for a while. FDs are a means of parking your specific sum of money for a chosen term and interest rate offered by the banks.

Fixed Deposits are generally associated with banks but are offered by NBFCs and Corporate Groups also. These traditional but highly popular instrument features prominently on Apnapaisa website. Many banks have recently raised the FD rates, customers can have the latest updates on interest rates of FDs on apna paisa site by clicking:

The website covers 38 banks and 3 corporates with a total of 120 schemes being displayed. The amount ranges between Rs. 100 Rs. 1 Crore and the tenure is between 7 days to 10 years. Offers available to senior citizens are marked separately.

The fixed deposit tab offers comprehensive list of banks, NBFCs and Corporate Groups with specified tenures and rate of interest offered by them. While making a FD, you can exercise the following options:

  • Interest Pay Out option - The interest is paid out as per the interval selected by the investor. The interest payout tenures are monthly, quarterly, half yearly and annually.

  • Interest reinvestment option - The interest is accumulated in the account of the investor and the interest calculation is done on a compounding basis.

At the end of the agreed term, you can take your deposit amount and earned interest or you can renew the investment. Larger deposits or longer terms of duration are rewarded with higher interest rates. In general, the rates offered are higher than those of regular deposit accounts.

Recurring Deposit tab in the same section: gives you snapshot of what happens to your money when you deposit it at regular interval, which works like a systematic investment plan and you get a corpus at the end of the tenure.

Also you can claim tax benefit under section 80 C up to a maximum limit of Rs. 1 lakh by investing in to Fixed Deposits for a tenure of more than 5 years and by choosing a reinvestment option. Check link: for these tax saving FD schemes.

Speaking on FDs, Mr. Harsh Roongta, CEO, says, Fixed deposits are a credible way to make a return on investment that is much higher than a standard savings account. Hence beneficial in every respect if you are looking for an investment avenue which offers you safety and security .

About Apnapaisa>>> is a price and feature comparison service provider that empowers consumers to take an informed decision by providing a comprehensive comparison facility for a   wide range of products like home loans, personal loans, car loans, business loans, credit cards and insurance products like life insurance (term plans, ULIP and traditional endowment and children plans), and general insurance policies (health, car, travel). Apna is India's leading price comparison site and attracts about 7 .2 million visitors per annum.

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