Why liquid fund is better than fds Fixed Deposit : The interest rates offered by big banks on fixed deposits are not as impressive to investors. The main reason for this is that interest rates have fallen to a 15-year low. State Bank of India, the largest public sector bank, pays 2.9 to 5.4 per cent interest on FDs of various maturities.
Currently FD interest rates are almost the same as the interest rates that Savings Bank pays to its customers. In fact, the interest paid by many banks on short-term FDs is less than the interest paid on savings customers. No one needs to be discouraged though. Because .. There are a lot of savings schemes that offer higher returns than bank deposits. Let’s take a look at some of the details of such schemes.
Do you know about these Schemes.? and Why liquid fund is better than FD’s Fixed Deposit
This is called the Post Office National Savings Monthly Income Account. The scheme, which has an identity duration, allows you to open an account as a single or joint (three adults). Minors over the age of ten can also open a PVOMIS account through the Guardian. The maximum investment is Rs 4.5 lakh under Single Ownership and Rs 9 lakh under Joint Ownership. Those who invest in PVOMIS, which has an maturity period of iden- tities, pay 6.6 per cent interest per month.
Small banks FD’S:
Some small banks offer interest rates ranging from 8 to 9 per cent on selected fixed deposits. Senior citizens pay an additional 50 basis points interest on such deposits. The interest rates offered by small banks on fixed deposits are much more attractive than the interest rates offered by large banks like SBI, HDFC, ICICI and Axis.
Do you know about these Schemes.? and Why liquid fund is better than fds Fixed Deposit
Senior citizen savings scheme:
Anyone over the age of sixty or older can invest in a Senior Citizen Savings Scheme (SCSS). Each deposit in this scheme which has an maturity period of iden- tities should not exceed Rs.15 lakhs. Investors can maintain more than one SCSS account individually or jointly with a spouse. These accounts can be extended for another quarter after maturity. It is currently offering an annual interest rate of 7.4 per cent on investments made in SCS. It is paid every three months (April, July, October, early January).
RBI FLOWTIN RATE SAVINGS BONDS:
The central government has allowed the RBI to issue floating rate savings bonds from July 1 this year. These bonds, which have an maturity of Rs. The interest rate paid on these bonds is determined every six months. It has decided to pay 7.15 per cent interest between July 1 and December 31 this year. It will be paid on January 1 next year. These bonds are fully taxable. Interest on these bonds is tax deductible. Senior citizens who have invested in these bonds can withdraw their money before maturity.
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