Investors with large sums, such as Rs 10-15 lakh, face a choice between single or multiple fixed deposits. Splitting FDs offers enhanced liquidity, increased deposit insurance coverage, and flexibility through laddering, but requires more management effort. The decision depends on liquidity needs, financial goals, and risk appetite.
Non-resident Indians (NRIs) and OCIs can choose between FCNR(B) and NRE fixed deposits for reliable returns. FCNR(B) offers currency protection in foreign denominations, while NRE is in Indian rupees. Both are tax-exempt and fully repatriable, with the choice depending on currency expectations and financial goals.
Senior citizens in India are opting for 5-year fixed deposits in small finance banks, such as Suryoday SFB and Jana Small Finance Bank, which offer a competitive 8.05% interest rate, providing stable higher returns for retirement savings.
Select small finance banks in India are offering senior citizens fixed deposit rates as high as 8.05% for a five-year term. Investors should note the DICGC insurance limit of Rs 5 lakh and can avoid TDS on FD interest by submitting Form 15H if their income is below taxable limits.
Banks like City Union Bank, Karnataka Bank, and Bank of Baroda are offering attractive interest rates on special 555-day fixed deposit schemes, drawing investor attention for potentially better returns.
Senior citizens can now avail fixed deposit interest rates of up to 8.3% from small finance banks like Unity SFB and Shivalik SFB, offering a lucrative opportunity for savings.
Small finance banks in India are offering senior citizens fixed deposit interest rates up to 8% for a three-year term on deposits up to Rs 3 crore. Investors can submit Form 15H to avoid TDS if their total income is below taxable limits.
