Fixed deposit is one of the safest investment tool available in India. An investment in FD can yield decent annual returns at a rate of 8.40% per annum (given you invest at the right place). Besides, the process of investing is very simple - anyone, irrespective of their knowledge restrictions can calculate the returns and invest accordingly. However, that doesn’t mean people can go easy about it! Investment in a short term or Long Term Fixed Deposit requires the same amount of financial planning as for other kinds of investment. The first and foremost, plan the worst case scenario - premature withdrawal. All of us invest for a specific purpose, and thus, knowing the maturity amount in case of premature FD withdrawal will help you plan your financial goals more effectively. For example, if your investment is for the purpose of meeting emergency cash needs, knowing the maturity amount at different intervals in case of premature withdrawal will give you an upper hand on the situation. Moving on, let’s talk about the process of premature withdrawal and the applicable penalty in detail.
You can use the premature fixed deposit withdrawal calculator for accurate calculations.
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8/1/2022 05:59:36 pm
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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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