+91-7838904326 info@MohindraInvestments.com
Fixed-Deposits

Fixed Deposits

Fixed Deposits are the safest investment schemes. As the name says, Deposits on which you will get a fixed return. In fixed deposits usually, you can get the return of 6-10% depending upon where you invested and for how many years you have invested. Investing in FDs is one of the best options if you don’t want to take any risk and want a fixed amount on maturity. If you want to invest, you can visit banks and know there FD Rates. But there are some other companies who are providing higher percentage rates of fixed deposits. You can ask your Financial Advisor about FDs which will give you the best returns. Your Financial Consultant can help you in guiding about the best FDs Rates.

As the rates are going down, companies have launched guarantee income plans with pension and life insurance schemes. Life Assured Income Plans where you will get guaranteed return with life cover. Other is pension guarantee plan where you will get guarantee lifelong return on one-time investment.

Such types of schemes are very popular because in mutual funds you can get a good return but that is not guaranteed. Here you will get a guaranteed return. The best way to invest is to diversify your money in:- mutual funds, fixed deposits, money back plans, pension plans, life insurance and other. There are some other investments also, but actually, they are not saving plans, they are protection plans known as term plan. Some yearly premium with 1.Cr life cover.

What are the benefits of fixed deposits?

  • They are safe investment plans. It means 100% safely.
  • Higher rate than banks saving the account.
  • You have different options for payout like a year, half-yearly, quarterly, monthly or cumulative(reinvestment of interest).
  • No effect of market fluctuations on rate of interest.
  • Higher interest rates with non-banking finance companies.
  • Additional interest rate for senior citizens.
  • Nomination option available.

What are the tax deductions in fixed deposits?

The interest is taxable depending upon the interest slap on your income tax. There are two methods of tax deductions. First is you can allow the company to deduct the tax from the interest amount. Later, you can show the interest certificate to your accountant while filling the ITR. Or you can attach 15G / 15H form with your investment documents and submit it to the company. On the basis of that 15G/15H, the company will not do any deduction on the fixed deposit interest amount. But, you have to pay the interest amount while filing ITR.

What is 15G Form?

15G is a form which means you don’t want to allow the company to deduct any tax amount from the interest you received. 15G is for general category.

What is 15H Form?

15 H is for senior citizen category. When a person is at least 60yr he/she comes under senor category list and according to the 15H form he/she don’t want to allow the company to deduct any tax amount on the interest received.

Contact Details of Mohindra Investments

Email: info@MohindraInvestments.com

Phone: +91-7838904326, +91-9968517159

Address: GA-6, Gali No. 6, Shiv Nagar, Hari Nagar, New Delhi – 110058