Senior citizens can avail TDS exemption according to the Section 194A if their net interest income is up to Rs. 50,000. However, if you are younger than 60, you can avail TDS exemption only if your yearly interest income is up to Rs. 40,000. It is quite clear that the interest rate determines the interest earnings. Therefore, it is natural for you to search for an FD scheme that offers a high interest rate. Bajaj Finance FD is providing a fixed deposit interest of up to 6.80% which is the highest in the market right now. If you are older than 60, the interest rate goes up to 7.05% as a 0.25% higher FD rate is guaranteed to senior citizens. The easy online investment method and flexible tenor spanning from 12 to 60 months make the investment process seamless. Also, as the documentation and even deposit payment can be done online, there is no need to visit any branch office of Bajaj Finance for investing in FDs. Also Read: How to Calculate TDs on Fixed Deposit Easily?
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About Author:Aman is working in the domain of Investment management in one of the top universities. He has published research papers and case studies in Investment and Fixed Deposit marketplace. He is an avid blogger in the domain of Investment management. you can also find him on social networking platforms. Archives
August 2022
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