Fixed Deposit is one of the most preferred investment options among conservative investor who need fixed and regular income.
Fixed Deposit also popularly known as Term Deposit is an investment option wherein interest rate is fixed for a predefined term.
Deposits placed by an investor with companies are known as Company Fixed Deposit. These deposits are accepted by manufacturing companies, financial institutions and non-banking finance companies. Deposits mobilized by these companies are governed by the Companies Act u/s 58A.
About Fixed Deposit
The tenure of company FDs can range from a few months to a few years.
You can choose from monthly, quarterly, half-yearly, yearly or cumulative interest payment option.
The interest income rate earned on FD is added to your income and is taxed as per your income tax slab.
In cases where the annual interest income exceeds Rs 5,000; TDS will be deducted by the company.
If you do not want the TDS to be deducted, you need to submit form15G/H with the company.
How does Fixed Deposit work?
100% online process. Quickest way to book an FD in 3 simple steps
Choose the company & tenure to invest in FD
Select the client to invest in Primary or Joint names
Enter the amount to invest and make payment
Maturity amount will be credited to the bank account registered with FundzBazar
