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How to Series

How to Avoid TDS on Interest on Fixed Deposits (Bank FD)

Last updated : 26th April, 2015 Bank Fixed deposit is an all-time favourite investment in India as it provides a decent fixed return for the fixed period and relatively safer as compared to other forms of investment products.   Specially, in current interest rate scenario, the fixed deposit rates are quite lucrative (8.5 – 10%).  However, it is likely that rates will go down further, so it is advisable to lock-in your interest rates if you want to invest in FD for longer term. Banks are required to deduct Tax (TDS) @ 10 % if the interest earned on FD ... Read More »

NEFT & RTGS Transfer – meaning, differences, charges & process

Last updated : 9th April, 2014 In banking context, you must have heard phrases like “NEFT transfer”& “RTGS”.  In this post, we will discuss – what is NEFT & RTGS, how they are different, charges, and process of using NEFT & RTGS etc. A. What is NEFT & RTGS? National Electronic Fund Transfer (NEFT) and Real Time Gross Settlement (RTGS) are two main system of transferring funds from one bank to another.  These systems are managed by RBI and it allows transferring funds across banks within the country.   B. NEFT – National Electronic Fund Transfer NEFT operates on a ... Read More »

How to use Sweep-in facility in HDFC bank via netbanking?

Last updated : 9th April, 2014 In my other post,I explained How you can earn upto 9% on your savings bank account using Auto sweep / sweep-in facility (Read Full Post). In this post, I have provided step-by-step guide to use the sweep-in facility in your HDFC Bank Account via NetBanking. HDFC Bank provides this facility to all its customers who have NetBanking facility. (holding pattern should be SINGLE & not Joint). I have savings account with HDFC bank and it is very simple to use this facility. Step 1:  Go to “Fixed Deposit” Section – Open Fixed deposit Enter ... Read More »

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