A fixed deposit is a financial instrument where an investor gives a certain sum of money to a bank or a financial institution and the entity pays interest for the duration of the deposit. The rate of interest paid varies depending on the amount and tenure. Investor’s, especially conservative investors, prefer to open fixed deposits as it is a safe investment option and it can be opened easily and quickly.
- Upto 15% Per Year for 3 years lock period, Highest Return on Fixed Deposit
Wifinserv Fixed Deposits provide a lucrative interest rate of 15%, with a reliable interest flow that helps you plan and manage your expenses easily. With a high interest rate on FD, you can accumulate your wealth and grow your corpus. These stable returns make wifinserv FDs one of the best investment avenues for growing your savings easily.
- Minimum deposit of Rs. 300000 / 3 Years
The minimum deposit required to open a (company name) Fixed Deposit is Rs. 300000 which makes it easier to start investing. With this minimum deposit amount, you can start investing any time. Even with a such higher interest rate on your deposit amount, you can ladder up your investments.
- Assured Returns
No influence of market fluctuations, so you get assured gains on your investment.
- Online Application Process
With wifinserv, you can easily invest in FD with an easy online application process, which saves you time and trouble. You can save the hassle of submitting lengthy documentation or waiting in queues for opening your Fixed Deposits with wifinserv
- Online Account Management
Online access to your Fixed Deposit account, so that you can keep track of your investment easily.
Profitable and hassle free investing.
- Fixed Deposit Interest and Income Tax
The income you earn on your FD is termed as Income from Other Source and it is fully taxable.
Wifinserv will not deduct TDS, if your interest income from fixed deposits is less than Rs.40,000 in a year.
You need to submit Form 15G and Form 15H with the bank at the beginning of the financial year. Wifinserv will not deduct TDS following the form submission.
- Easily withdrawable:
The amount that is invested in fixed deposit can be withdrawn at any time for a small penalty. The investor may have a financial emergency to meet financial needs during marriage, sickness or when his business is in loss. The penalty is less than that of selling stocks or real estate as the asset cannot be sold easily because of its high value and if you are in a distressed situation, you will sell it for a much lower rate. Whereas, fixed deposits can be withdrawn at any time and all you lose is a certain interest income.
You can always consider renewing you wifinserv Fixed Deposit, as you approach the maturity period. However, in case you don’t choose to renew your wifinserv Fixed Deposit, you can receive the final maturity amount directly in the bank account.
There is a fixed lock-in period of 3 months, when investing in a wifinserv Fixed Deposit. While there is no penalty on withdrawing your deposit before maturity, you may incur losses in terms of interest you could earn. To help you avoid incurring such losses, wifinserv offers an easy Loan against Fixed Deposit, so you can cater to your urgent finance requirements, without having to break your FD.
FD's are simple to understand and that is why they are popular in India. However, they suffer both in terms of growth and impact of tax. Remember, being low risk, its interest income is always being nibbled by inflation.
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