suggest FD / Recurring Deposit

suggest FD / Recurring Deposit

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Deal Cadet
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Where we can get good rate of interest on FD OR RD nowadays ? suggest banks with tenure. if I want to invest for 3 months only then .

8 Comments  |  
8 Dimers
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Deal Subedar
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both are same, its on u. if you have bulk amount. do FD… if you want to save monthly basis, do RD

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Deal Cadet
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indianboy wrote:

both are same, its on u. if you have bulk amount. do FD… if you want to save monthly basis, do RD

Suggest bank

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Deal Cadet
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iamshashikant wrote:

Suggest bank

All banks reduced FD interest rate below 7% including Post office. Only few private banks still giving FD interest 7.25-7.6%.. like Yes Bank, IDFC First and DCB Bank. Small finance banks also giving better interest rate.

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Deal Cadet
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Don’t ever do in co-operative Bank, they offer high rates

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Critic
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For 3 months it doesn’t matter. Just put money in idfc first bank if total amount is below/just a bit more than 1 lakh & assuming it is not your major portion of savings. If it is a major portion of your savings &/or amount is much higher than 1 lakh then put it in savings acc of dbs digibank or kotak.

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Deal Subedar
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can see overnight mutual fund also

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Deal Newbie
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Interest on fd is added to your taxable income.
In case you are in upper tax bracket, your actual return will be around 31% less than fd rate.

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