A Fixed Deposit (FD) is a tax saving investment tool with guaranteed returns. Since it involves a lump sum amount for a deposit, every investor should check the yields, interest rates, and credibility of the bank or financial platform before investing. What are the benefits of investing in a Fixed deposit account or FD? A viable investment with guaranteed returns Unlike other investments like equity or shares, FD is secure, risk-free, and not market susceptible. Under section 80 C of the Income-tax Act, investors can claim a tax deduction up to Rs 1.5 Lakhs from fixed deposits in a fiscal year Many banking platforms also grant loans against fixed deposits.…
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