Fixed Deposits
Ace Wealth Deposit(s) in Companies that earn a "fixed rate of return" over a period of time are called Company Fixed Deposits. Financial Institutions and Non-Banking Finance Companies (NBFCs) accept such deposits.
Company fixed deposits (FDs) are a very popular investment option amongst senior citizen investors as they give them assured returns, which are generally 1% to 3% higher than the interest rates being offered by banks for similar periods..
Benefits of investing in Company Fixed Deposits.
- High interest.
- Short-term deposits.
- Minimum lock-in period is 6 months.
- No Income Tax is deducted at source if the interest income is up to Rs 5,000 in one financial year