Name of Post:- | How to make FD fixed deposit online |
Post Date:- | 02/02/2024 |
Beneficiaries:- | All Indians |
Time Limit:- | 7 Days to 10 Years |
Apply Mode:- | Through bank branch and online |
Short Information:- | Today we will talk about FD fixed deposit. By reading this post, you will get all the important information related to the interest rate available on FB, what is fixed deposit, how to make fixed deposits in the bank, its advantages and disadvantages, how to make FD. Stay connected to the post till the end. |
What is fixed deposit?
Fixed Deposit-FD is a kind of facility to deposit money in the bank for a fixed period of time. Fixed Deposit is called Fixed Deposit in Hindi. Fixed Deposit i.e. FD is one of the safest investment options, through which people get relatively higher interest compared to regular savings account. FD is a safe means of investing your money in a safe form, Fixed Deposit facility is provided by post offices, banks and non-banking financial companies (NBFCs) to their customers. So that you can invest your capital there safely.
The very name of Fixed Deposit-FD proves that through it people can invest a fixed amount at a pre-determined interest rate for a fixed time or period. We do. The most important thing about Fixed Deposit is that whenever you need your money, you can get money by limiting your Fixed Deposit account.
How many types of FD are there?
- There are mainly five types of fixed deposits, we will tell you important information about these five types. If you want to make FD then it is necessary for you to understand these five types of fixed deposits in detail. 1 which is as follows:-
- Standard Term Deposits
- Senior Citizen Fixed Deposits
- Recurring Deposit
- NRI Fixed Deposit
- corporate fixed deposit
1. (Standard Term Fix Deposits)-
Standard Term Deposits is an investment under which you deposit your money for a fixed period and at a fixed interest so that you receive interest. Standard TermDeposits are also called fixed term deposits. Standard term deposits provide investors the facility to choose the tenure as per their convenience.
2. (senior citizen fixed deposit)-
Senior citizens i.e. investors above 60 years of age are offered 0.25% to 0.50% more interest on fixed deposits as compared to other investors. Also, the interest received from FD by a senior citizen remains tax free.
3. (Recurring deposite)-
Investors invest in recurring deposits for huge benefits because it is a fixed deposit account under which money is deposited for a fixed period of time and the interest rate on this account is already fixed and when the account matures. Then the depositor receives a huge amount.
4. (NRI Fixed Deposit)-
NRI Fixed Deposit is suitable for Indians living abroad. Under this, the amount and interest deposited under NRI FD remains tax-free. The interest earned by FD can be seen by the investor independently in his/her country i.e. his/her place of residence.
5. (Corporate Fixed Deposit)-
At present, corporate fixed deposits are becoming increasingly popular. Some companies offer higher interest rates than the interest rates offered by banks on FD. If corporate companies or institutions are declared bankrupt, in this situation you will find it difficult to recover the money. Problems may have to be faced i.e. there is more risk in this as compared to FD.
What is the benefit of FD?
- Bank Fixed Deposit (FD) is a trusted option of investment.
- You get the facility to invest money in FD for a period ranging from 7 days to 10 years.
- Along with having confidence in depositing money in banks, you also get a fixed interest on it at a fixed time.
- When senior citizens invest in FD, they are provided higher interest rates than ordinary citizens.
- When you get an FD made and the interest rate fixed at that time, you will get the same interest rate for the number of years for which the FD is made, no matter how low the market conditions or the interest rates go.
- The biggest advantage of investing in FD is that if necessary, you can break the FD and withdraw the money.
- After investing in FD, if needed, you can take 90 percent of your FD amount as loan.
Interest Rate on Fixed Deposit FD Interest Rate
The interest rate on FD is different in different banks. If you invest for a longer period, you get a higher interest rate. If you invest for a longer period, then you will get more benefits. State Bank of India a few days ago There was an announcement related to FD interest rate increase, according to which the bank has increased the FD interest rate by 0.10 percent on investments from Rs 2 crore to maturity of 1 to 2 years. According to which, from January 15, 2022, the SBI FD interest rate has become 5.10 percent and the interest rate for senior citizens has become 5.60 percent.
Documents required for making fixed deposit
- To get FD in any bank online or through bank branch, you must have the following documents which are as follows:-
- Passport
- electricity bill
- Bank statement
- Aadhar card
- driving license
- PAN Card, Voter ID Card
- ID card issued by post office
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Note:- |
Before investing in fixed deposit in any bank, be sure to know its terms and conditions. In this post, we have explained the entire process of making FD in banks, so read the post till the end. We will be the first to inform you if FD interest rate increases in future, so you can follow us. |
Fixed Deposit Online Kaise Kare Full Process Video
How to make FD in bank
Various banks provide many options for making FD, under which we can make our FD in bank branches and online. Some banks also provide the facility of making FD through mobile app. We have told you the complete process of getting FD done in the bank through online further in this post, so you must read the process of getting FD done in the bank.
How to double money from FD
Every person is very much attracted towards doubling his money. At present, you can double your money by investing in FD. Let us now know how to double your money through FD. For this it is very important for you to know its mathematical equation. Will always understand as an example. Suppose a person has invested Rs 1 lakh in bank FD in which he is getting 6% interest every year, then it will take about 12 years for his amount to become Rs 2 lakh.
If he is getting 8% interest annually then it will take 9 years for his money to double. There may be slight difference in the amount received due to other taxes. To double your money, you can also invest in mutual funds, but there is risk in it as compared to FD. Mutual funds move according to the stock market in which there are ups and downs, so invest in it only after thinking.
How to do FD?
Financial institutions also provide online FD facility to their customers. Through this, you can do your homework online even sitting at home. To understand this better, we are telling you the complete process of making FD online in SBI which is as follows:-
- First of all you have to go to the official website of SBI onlinesbi.com.
- After the main page opens, you have to login to net banking.
- For this you have to enter the password of your user ID after which you will be able to log in.
- A new page will open in front of you, here after clicking on the deposit skin, you have to click on E-Fixed deposit.
- Now the FD option will appear in front of you, click on it and enter your account details and the amount you want to invest.
- If your age is 60 years or more then click on Senior Citizen option.
- Now enter the maturity periods i.e. for how long you want to make the FD and click on the submit button.
- In this way you can open your online FD account and invest in it.
Important things related to FD
- Every person thinks of investing his capital in a safe place. For such people, FD Fixed Deposit is the best option. Under this, the bank provides interest on your capital.
- Investing in FD is completely safe and there is no risk of any kind in it.
- In some special circumstances, if you need to take a loan, then you can take a loan under FD.
- The amount of loan given to you is decided on the value of your FD. Suppose if the value of your FD is ₹ 200000 then you can get a loan up to ₹ 170000.
- On taking loan under FD, you will have to pay 1-2% more interest than the interest received through FD.
- You do not have to pay any tax on the principal and interest deposited in bank FD, that is, you can invest in FD to get income tax exemption.
- The biggest advantage of investing your money in FD is that you are told at the time of investing how much profit you will get.
- In some special circumstances, you can withdraw your capital before the maturity of FD, but in this situation you will have to deposit bank charges which is not that much.
- Under FD, senior citizens are given more priority, that is, if there is a senior citizen in the family, you will get more interest if you make an FD in his name.
- Compared to normal FD, senior citizens get 0.25 to 0.75 percent more interest.
In how many years does FD double?
As we all know, investing in FD is considered a popular option in our country. If you also want to increase or double your money, then it is very important to know which bank is giving how much interest on FD before investing. By making an FD in a bank whose FD interest rate is higher, you can double your money in a short time.
Suppose if you make an FD in SBI Bank, then you get 5.40 percent interest on it. According to Rule 72, it may take about 13 years and 3 months for your FD to double. And if you make your FD in IDFC Bank in which you get 7.25 percent FD interest rate, by investing in it your FD can double before 10 years.
How much interest is available on FD?
Every citizen wants to earn more money by investing safely. At present, FD fixed deposit is considered a very good investment option because it is a safe and reliable option under which returns are tax free and interest along with the amount deposited. Reserve Bank of India (RBI) issues its guidelines from time to time according to which different financial institutions determine the interest rates.
Investing under FD for a longer period gives higher returns. For example, ICICI Bank provides interest at the rate of 5 percent to its customers for FDs made for 1 year to 5 years and for FDs made for more than 5 years. But it gives interest at the rate of 5.6 percent. Every bank sets its own interest rate on FD, in which there is some difference in the interest rate for common citizens and senior citizens.
Every bank provides higher interest rates to senior citizens as compared to common citizens. For example, State Bank of India gives 4.90 percent interest rate in the form of FD to its general customers and 5.40 percent interest rate to senior citizens.
fixed deposit calculator – is a tool to calculate the amount to be invested in FD according to maturity along with the interest rate. Through FD calculator, you can easily calculate the investment made in FD and the returns received on it. Because it is an automatic calculator, there is no scope for mistakes in it. Using this calculator saves time and helps investors in making future financial plans.
Top 10 Tax Saver FD Interest Rates
fixed deposit interest rate – Let us now know about the FD interest rates of different banks of the country, including how much interest you get on making FD. Every bank provides more interest on FD to its senior citizens as compared to the common citizens. Here we have mentioned the top 10 FD interest rate banks:-
Name of bank | interest rate for common man | Interest rates for senior people | Duration |
ESAF Small Finance Bank | 8.50% | 9.00% | 365 – 727 दिन |
Ujjivan Small Finance Bank | 8.30% | 8.80% | 1 वर्ष से 2 वर्ष |
IndusInd Bank | 6.65% | 7.15% | 1 वर्ष से 1 वर्ष 2 महीने |
yes bank | 7.40% | 7.90% | 12 महीने 10 दिन से12 महीने 20 दिन |
DCB Bank | 7.40% | 7.90% | 12 महीने 1 दिन से 15 महीने से कम |
Standard Chartered Bank | 7.20% | 7.70% | 1 वर्ष – 375 दिन |
Axis Bank | 7.30% | 7.95% | 1 वर्ष < 1 वर्ष 5 दिन |
HDFC bank | 6.15% | 6.65% | 1 वर्ष |
Canara Bank | 5.85% | 6.35% | 1 वर्ष |
state Bank of India | 5.70% | 6.20% | 1 वर्ष से 2 वर्ष से कम |
Disadvantages of FD
Before investing in bank FD or other resources, we should also know its disadvantages. FD interest rate and penalty are different for each bank. Therefore, before investing, you should carefully follow the instructions of the banks, otherwise you may have to deposit more money as penalty.
If seen, our money in the form of HD remains completely safe, but if under any condition the bank defaults the investors, then only the investment up to Rs 500,000 remains safe. In some circumstances, there may be some difference in returns due to rising inflation.
As we know, bank FD is made for a fixed time maturity, if you have invested in tax saving and you want to withdraw it before maturity, then you will not get income tax exemption in it.
FD Fixed Deposit Explain in Hindi:- What is Fixed Deposit, How to do Fixed Deposits, FD Interest Rate, its advantages and disadvantages, types of FD
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