Saving money has been an integral part of every working-class family or an individual. One may find an array of savings schemes in the market, but financial planners suggest to go for fixed deposits (FD) if you are not sure of taking risks.
Bank fixed deposits are one of the most popular savings schemes as the return is fixed across predetermined, specific periods of time. FDs continue to be a popular investment scheme among the senior citizens who look for a guaranteed income.
Fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act. Financial planners suggest that a person should take a look at the interest rates on offers before choosing a FD.
Here's the latest fixed deposit rates that various banks offer:
First Published: Nov 26, 2018 4:42 PM IST
