Fixed Deposits

• Fixed Deposit is one of the easiest, preferred investment options among conservative investors who need without fail, fixed, assured and regular income.
• A fixed deposit, also called a Term Deposit, is an investment option wherein the interest rate is fixed for a predefined term.
• A deposit placed by an investor with corporate/ companies is called a Corporate/ Company Fixed Deposit. These deposits are accepted by manufacturing companies, financial institutions and non-banking finance companies. Deposits mobilized by these companies are governed by the Companies Act under section 58A.
• The maturities of various company fixed deposits can range from a few months to a few years. As per the need, one may opt for monthly, quarterly, half-yearly, yearly or cumulative interest options. The interest rate earned on a fixed deposit is added to one’s income and is taxed as per one’s income tax slab.
• If the annual interest exceeds Rs. 5,000, TDS will be deducted by the company. If the investor doesn’t want the TDS to be deducted, he/she needs to submit form 15G/H with the company.

The Popular Fixed Deposits  offerings companies :

• Shriram City Finance
• LIC Housing Finance
• HDFC Housing Finance
• ICICI Housing Finance
• Sundaram Finance
• Muthoot Capital
• PNB Housing Finance
• Mahindra Finance etc.