Home Finance If you want to make a fixed deposit, then keep these things...

If you want to make a fixed deposit, then keep these things in mind before investing money

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Some people invest some part of their earnings to buy land and some people to buy gold. Some people in the world invest a part of their earnings in a fixed deposit scheme.

Every person wants to have expensive vehicles and bungalows. A person wishes that he has more and more comforts. Man also thinks that he should save some money for the future. To save money, one also invests in many different places so that the future is bright.

Some people invest some part of their earnings to buy land and some people to buy gold. Some people in the world invest a part of their earnings in a fixed deposit scheme.

An important thing before investing

People consider the money put in banks to be more secure. However, investing in fixed deposits also has its dangers. If you too are thinking of investing in FD then it would be better to know some important things.

Tax risk

Investors whose age is above 60 years, the interest on FD will be tax free. At the same time, investors under 60 will have to pay tax on interest. However, earning up to Rs 50,000 from interest under Section 80 TTB is exempt from tax for all ages.

Compare returns

There are dangers regarding returns in fixed deposits. In FD, the bank usually gives 6-8 percent returns. This return is less than the returns of the mutual fund SIP.

Liquidity

In some FDs, you can withdraw money whenever you want, but it is not the case in all FDs. There are some fixed deposits in which money has to be deposited for a fixed time. In this fixed deposit, investors cannot withdraw money according to their mind.

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