Bank Deposit – a Safe and secure

Bank Deposit – a Safe and secure Investing Option

There is no risk at all in Bank deposit. In comparatively though growth rate is low but your saving must get safety and secure growth. Also deposit interest rates also vary from bank to bank. Hence your choice is to invest in which bank. For more returns you may choose fixed  long term deposits. As today it carries more than 9percent per annum interest rate.

Now a days banking agencies makes many times hike in interest rates on fixed deposits to regulate monetary inflations and control. You may also getting tax rebate to a certain limit of your interest earned on fixed deposits. After that slab you may invest your saving in others funds.

If you want you may invest in recurring deposit scheme . but one thing you keep in mind that you loose tax saving  rebate. You also can’t withdraw cash before a stipulated time. But now ome banks offering recurring deposit schemes with same interest rate of fixed deposit for more than 9 percent per annum.

If conditions of bank allow you may take  some loan from bank against your fixed deposits. In some banks separate and special schemes are followed for different categories like women’s and they should take the benefits from the schemes.

In comparing to all the popular saving options like National saving Certificate scheme, post office deposits, public provident fund, life insurance endowments  , fixed deposit schemes in more than 350 or 400 days fetches  9 to 10 percent of interest rates per annum.