Tuesday, December 28, 2021

SBI Vs Post Office: Where To Open A Fixed Deposit Account In 2022?

 Permanent deposit or recurring deposit is preferred for both regular and adult deposits under the credit department.

Invest in safe and risk-free tools.

These deposit schemes offer several benefits including low initial deposit, flexible tenure, regular income, tax benefits under the section.

80C of the Income Tax Act provides for liquidity and flexible interest. Investing in FDs and RDs is risk-free and is not market-based.

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Other speculation instruments and when we are worried about security we take a gander at the store plans presented by the State Bank of India (SBI) and post office of India

SBI Fixed Deposit and Recurring Deposit

SBI, the country's largest lender, offers a fixed deposit scheme, which offers a host of benefits to investors. Fixed deposit can be made for 7 days

Up to 10 years with the minimum deposit amount. 1,000/- and then Rs. 100/-. There is no maximum deposit limit

The amount and Fixed Deposit accounts can be opened through SBI Net Banking or Mobile Banking.

The bank pays the applicable interest rate on a quarterly basis or on maturity. In case of opening of Fixed Deposit for a maturity period

Monthly, half-yearly or annual interest can be earned for a period of twelve months or more, depending on the interest of the depositor. in bank

On the other hand, it offers a recurring deposit product, which allows depositors to make a fixed amount of monthly deposits over a specified period.

Recurring deposit accounts can be opened for a period of 12 to 120 months. Minimum Recurring Deposit Rs. 100/- per

Need a month, then increase the money. There is no maximum deposit limit of 10/-. Anyone can apply against existing opponents

Transfer your deposit accounts from one bank to another with permanent or recurring deposit accounts.

It is also possible to take a loan against a fixed deposit or a recurring deposit account. The interest rate on Recurring Deposit will remain the same for the tenure

The deposit amount is applicable to the general public and senior citizens. The bank's interest rate for low deposits is 7. The latest update is Rs 2 crore

The current interest rates on fixed deposits and recurring deposits are as follows from January 8, 2021, and as per the bank's website.

7 days to 45 days 2.93.4

46 days to 179 days 3.94.4

180 days to 210 days 4.44.9

less than 1 year 211 days 4.44.9

1 year less than 2 years 5 5.5

Less than 2 years to 3 years 5.15.6

5 Years Below 5 Years 5.35.8

5.46.2 for 5 years and 10 years

The Department of Posts offers Post Office Fixed Deposit Account (TD) which acts like a bank account. Requirements for this deposit scheme:

The minimum deposit amount is 1000/- and is multiplied by 100 without any maximum deposit limit. Post Office Fixed Deposit Account can be opened for maturity

The postal department is offering an interest rate of 5.5% on deposits with tenures of 1 year, 2 years, 3 years, and 5 years and at present, 1 year to 1 year.

6.7% on maturity deposits of 3 years and 5 years.

These interest rates are payable on an annual basis, however, they are fixed on a quarterly basis. Eligible for investment under TD of 5 years

Tax benefits under Section 80C of the Income Tax Act, 1961, such as bank tax-saving deposits. On development, the investor has the choice to restore the TD account for standby time after the account expires.

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A single adult or joint holder, parent for minor, parent for a mentally ill person, or minor over 10 years of age

Any individual can open a fixed deposit account in his own name and get the following interest rate, which is safe to back up from the Government of India.

1 year a/c5.50%

2Years A/C5.50%

3Years A/C5.50%

5 years a/c 6.70%

The Department of Posts offers a National Savings Recurring Deposit Account (RD) as part of its Post Office Savings Scheme. Cause

Can be set with a minimum deposit. 100/- per month or any amount up to Rs. 5 years multiplied by 10/- without any upper limit

And after opening the account, it will be eligible for a 5.8% p.a. (quarterly compounded) interest rate.

The account can be renewed for another 5 years by submitting the application at the concerned post office. a single individual or joint holder, or a

A parent for a minor, a parent for a person of unsound mind, or a parent in his name for a minor over the age of 10 years

Post Office RD Account

The account can be opened by cash or cheque, the date of withdrawal of the check being the date of deposit. RD Account

The account can be closed prematurely after 3 years from the date of opening

The main difference between Post Office FD and Bank FD is that only Indian citizens can open Post Office FD or RD but Bank FD.

It will also be opened by NRIs, NROs, and Indian citizens. The other difference is that you can deposit FD in the post office for 1 to 5 years

Bank FDs with tenures ranging from 7 days to 10 years should be considered here.

There is no additional benefit for senior citizens in the post office but banks pay senior citizens for 1 year or more.

Most of the post offices pay annual interest on fixed deposits but banks pay interest on a quarterly, half-yearly, yearly basis.

A single maturity amount that allows you to earn regular income from bank FDs.

For regular customers, post office fixed deposits are a good bet as SBI's interest rate is lower than that for the general public.

Office, when senior citizens opt for SBI Fixed Deposit as they will get the additional interest rate for the entire tenure.

However, keep one thing in mind that the post office does not deduct TDS on the interest earned by the earner, where interest is earned on fixed bank deposits.

10% TDS for submission of PAN or 20% for non-submission of PAN details to the bank.

SOURCE: NEWS RETURN


Sunday, December 26, 2021

Initial Public Offering: Are All IPOs Worthy To Invest? What Should You Do?

Despite the fact that one particular food supply company has been making losses since its inception, some enterprising investors have persisted, Putting money in it.

In the wake of expenditure tremendous sum on publicizing for media advancement, the organization has dispatched its IPO in the current market.

By selling a loss-making company, the venture capitalist sells its shares at a price that generates huge profits for the capitalists.

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Not at all like customary organizations, which draw in open speculation dependent on their benefits, New Age organizations are for the most part misfortune-making organizations. Banks on inflation assessments by opportunistic venture capitalists.

To create the impression that such companies are very valuable, venture capitalists invest in loss-making companies and There is a good chance of attracting some big investment. Finally, high market times, when most new investors are looking for new investment opportunities

Inequities, investors in such ventures hurt IPO investors by offering to sell shares at a higher price for better profits. Hence, instead of investing in profit-making companies, such IPO investors take responsibility for losses.

Companies at a premium price, which they should normally get at a discounted rate. Since the shares of the venture capitalists in most of the companies are being transferred to the investors in this process, this is also suspicious.

In effect, an initial public offering or a change in an existing partnership. Albeit a portion of these IPOs – in the wake of being recorded on the stock trade – was opened at a greater cost, the IPO permits financial backers to offload.

Stock up again, you are highly likely to lose money after being duped by greedy venture capitalists.

Hence, it is better to avoid investing in stocks in high market cycles, even in the IPO way, which is riskier than investing in Current company stock.

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You should be more biased in the assistance you with providing for other people, than you Invest in Equity Mutual Funds (MFs) through SIP, do not bother IPO and continue your SIP.

Also, since MF investments are managed by professional fund managers, they are well aware of whether investing in IPOs is worth it. so instead

It is better to invest directly in equities than to invest directly in mutual funds and leave the investment decisions to the fund managers.

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