Myths of Fixed Deposit - Loan Trivia

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Friday, 20 January 2017

Myths of Fixed Deposit

You are planning to invest your savings. You may also be interested to do so in fixed deposit as it is the most secured form of investment. But, still I can say that you are having some myths regarding a fixed deposit.
You will get numerous fixed deposit investment tips online. But, there are inevitably common running myths with around this investment scheme also.

Some of those myths of fixed deposit are:
Only Banks Can Offer You Fixed Deposits
It is not true. You will get many banks, NBFCs as well as corporate FDs if you want to invest in fixed deposit. companies other than banks generally offer a higher interest rate in comparison to what is offered by the banks.


You Can Avoid Fixed Deposit Taxation
There is a widespread belief that five-year fixed deposit can offer you tax exemption.  


Breaking an FD is The Only Way to Avoid Cash Crunch
Many banks and financial institutions offer partial withdrawal, you may not have to pay the penalty while withdrawing a part of the amount that you have invested in the fixed deposit.


To know about such myths, click:


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