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What is Sukanya Samriddhi Account Saving Scheme | SSA | 1 Best Guaranteed Returns

May 22, 2022

by Prabir Jana with No Comment Investment Scheme

Hello Friends, Welcome to my Blog Investinfy.com the best financial blogs where you will be able to read about the end to end information on many investment schemes and financial topics. In this Blog post we will be focusing on Sukanya Samriddhi Account.

Generally when we want to invest money on any investment scheme , we always asks our friends and relatives that where we can invest ? and they suggests the investment schemes which they like most. Then we invest as per their suggestions, that is good as we consider them as our well wisher , But here I want to mention one thing, if we know end to end information of each investment schemes at least it will help us to understand if that investment scheme is good for us or not.

Hence it is better to have a complete idea about each investment scheme where we invest. Therefor this blog will help you to know end to end information of many Indian investment schemes available right Infront of you.

In this blog post I will be explaining my analysis on Sukanya Samriddhi Account. This will be a complete guide on Sukanya Samriddhi Account. Please read till end of the blog post to know the complete information about this Sukanya Samriddhi Account. Lets get started.

What is Sukanya Samriddhi Account ?
History of Sukanya Samriddhi Account
How Does Sukanya Samriddhi Account Work ?
Features of Sukanya Samriddhi Account
Who can Open Sukanya Samriddhi Account ?
How Many Sukanya Samriddhi Account can be opened for one Girl Child ?
Where can you open account ?
What are the documents required to open SSA ?
What is the Deposit Limit of SSA
Deposit Period of SSA
What are the Income Tax Benefits of SSA
How to Deposit Money into SSA ?
In-Active SSA account.
Interest Rate of Sukanya Samriddhi Account.
Compounding Frequency of Sukanya Samriddhi Account.
Maturity Period of Sukanya Samriddhi Account scheme
Partial Withdrawal from Sukanya Samriddhi Account
Premature closure of Sukanya Samriddhi Account
Nomination Facility for Sukanya Samriddhi Account
Passbook for Sukanya Samriddhi Account
Duplicate Passbook Sukanya Samriddhi Account
SSA Maturity Amount projection Table
FAQ about Sukanya Samriddhi Account

What is Sukanya Samriddhi Account ?

Sukanya Samriddhi Account (SSA) is a saving scheme introduced by Govt. Of India. SSA is a girl child prosperity scheme and it aims mainly for the higher education and marriage of a girl child.

History of Sukanya Samriddhi Account

SSA Scheme was launched by the Govt. of India on 22-January-2015. It was launched under the campaign “Beti Bachao, Beti Padhao” meaning ” Save Girl Child and Educate Girl Child” .

How Does Sukanya Samriddhi Account Work ?

Open SSA account in a Bank or post office in the name of the girl child.
Deposit the amount (From Rs. 250 to Rs. 1.5 Lakhs) every year for the first 15 years.
After 15 years, you no need to deposit the amount from 16th year to 21st year.
Your account will continue to earn the yearly compounded interest rate % announced by the Government of India from time to time.
After completion of 21 years. the account will get mature and the girl child can withdraw the entire maturity amount. Account will be closed after maturity.
If the girl child gets married before completion of 21 years from account opening , then the entire accumulated balance can be withdrawn.

Features of Sukanya Samriddhi Account

SSA is exclusively for girl child.
Introduced by Govt. of India.
Safe and Guaranteed Return.
Income Tax Benefits.
Currently High interest rate compared to other saving schemes.
Partial Withdrawal facility for the higher education of the girl child.
Full withdrawal facility for the marriage of girl child.

Who can Open Sukanya Samriddhi Account ?

Parents or legal guardian of a girl child can open the SSA account in the name of the girl child.
SSA Account can also be opened in the name of Adopted girl child.
Age of the girl child should be less than 10 years at the time of account opening. That is, from new born baby to less than 10 years of age.
The girl child is the account holder in this saving scheme and the parent or Guardian is called the depositor in this scheme.
Parent or legal guardian will operate the account till the girl child becomes 18 years of her age.

How Many Sukanya Samriddhi Account can be opened for one Girl Child ?

There Should be only one SSA account in the name of a girl child.
Maximum of 2 accounts can be opened in the name of two different girl child.
You can open more than two accounts if you are blessed with more than 2 girl child on the first birth.
You can also open more than two accounts if you are blessed with 2 or more girl children on the second birth provided that you had only one girl child from the first birth.

Where can you open account ?

You can open SSA account in

Authorised Banks.
Post office.

What are the documents required to open SSA ?

The following documents are required to open SSA account.

Birth Certificate of the girl child.
Identity Proof of the Parent or guardian .
Address proof of the Parent guardian.

What is the Deposit Limit of SSA

Minimum Deposit Amount Rs. 250 per financial year.
Maximum Deposit Amount Rs. 1.5 lakhs per financial year.
Deposit Amount should be multiplies of Rs. 50.
There are no limits on the number of deposits made in a month or in a financial year.

Deposit Period of SSA

Deposit Period is only for the first 15 years. That means you need to deposit every year from the account opening date till the completion of 15 years.
Though this scheme has a maturity period of 21 years, you are required to make deposits for the first 15 years only.
After 15 years , you can not deposit any amount into the account.
After 15 years your account will be keep earning the yearly compounded interest as per the interest rate announced from the time to time by the Government Of India for the remaining 6 years.
The deposit Period was 14 years when the scheme was launched . But in March-2016, this was updated to 15 years.

What are the Income Tax Benefits of SSA

Investments made in the SSA scheme are eligible for deductions under Section 80C, subject to a maximum capital of Rs 1.5 lakh.
The interest that accrues against this account which gets compounded annually is also exempt from tax under Section 10 of the Income Tax Act.
The Amount received upon maturity/withdrawal are also exempt from income tax.

How to Deposit Money into SSA ?

You can deposit into your SSA account in one of the following ways.

Cash : Date of deposit will be same day.
Cheque : Cheque drawn in favour of the Post Master of the Post Office or the Manager of the Bank where the account is opened. Date of deposit will be the date of encashment of the cheque.
Demand Draft (DD) : DD drawn in favour of the Post Master of the Post Office or the Manager of the Bank where the account is opened. Date of deposit will be the date of encashment of the DD.
Online Transfer : Bank or Post office should using CBS ( Core Banking Solution ). Date of deposit will be date of deposit of money into the account.

In-Active SSA account.

If you don’t deposit the minimum amount of Rs. 250 in a financial year , then the account will become default or in-active account.
To make the account active , you have to pay a penalty of Rs. 50 for each year of default and minimum deposit of Rs. 250 for each year default.
For example, if your account is in-active for 4 financial years, then to make it active , you have to pay a penalty of Rs. 200 and along with you have to deposit minimum deposit amount Rs. 1000 (250 x 4).
To make the account active you have the time period of 15 years from the date of account opening.
Even if you don’t make your account active within 15 years of account opening , then entire deposit amount (Amount deposited even before the date of in-active account) will earn interest as per the interest rate applicable to the scheme from time to time till maturity date.

Interest Rate of Sukanya Samriddhi Account.

Current annual interest rate is 7.6%.
The Interest Rate is not fixed and it will be announced by the government from time to time.
From 01-April-2016 onwards, the interest rate has been announced on a quarterly basis. It used to be on a yearly basis earlier.

Compounding Frequency of Sukanya Samriddhi Account.

SSA scheme follows “yearly” compounding frequency.
Interest is calculated on a monthly basis and credited into the account at the end of the financial year.
Monthly interest is calculated on the lowest Balance between the close of 5th day and end of the month.
For example, you have Rs. 10000 in the account on the 5th day of the month and you deposited another 10000 on the 20th of the month. At the end of the month, your account will have Rs. 20000 but the interest will be calculated for Rs 10000 only.
It means that if you deposit on or before 5th , then you will earn interest for that month.
So the best time to deposit in Sukanya Samriddhi Account scheme is on or before 5th of the month.

Maturity Period of Sukanya Samriddhi Account scheme

Maturity period is 21 years from the date of account opening.
SSA account will mature on completion of 21 years from the date of account opening.
On Maturity , the entire 100% balance including interest will be paid to the girl child and the account will be closed.
To get the maturity amount , the girl has to submit identity proof , address proof and indian citizenship.
No Interest will be paid after maturity. If you forget to close the account after 21 years , then interest will not be paid after the maturity.
If the girl is planning to marry before the maturity period of 21 Years, then the girl can request the concerned Bank or Post office to close the account and pay the maturity amount.
Such Account closure request can be made a month before the marriage or within 3 months after marriage.
Such account closure request should be made with the submission of age proof to prove that the girl will be 18 years of age or more on the date of marriage.
The concerned Bank or Post office will pay the account balance along with interest till the date of request for closure, to the girl child and close the account.
Note that it is not compulsory to close the account following the marriage of the girl child. You have the option to keep the account open beyond marriage till the completion of 21 years from account opening date.

Partial Withdrawal from Sukanya Samriddhi Account

Partial withdrawal facility is allowed when the girl child reached 18 years of age or has completed 10th standard, whichever is earlier.
Partial withdrawal facility is allowed only for the purpose of education of the girl child.
For this withdrawal you need to submit the proof of “admission Offer” or fee slip to be paid to the educational institution.
Your eligibility withdrawal limit will be the lowest of the following 2 things

Maximum of 50% of the outstanding balance at the end of the financial year just before the year of withdrawal.
Actual admission fees or fee slip to be paid to the educational institution.

For example, your eligible withdrawal limit may be Rs. 2 Lakhs. But , the college admission fees and subsequent year fees may be around Rs. 1 Lakh. In this case , you can withdraw a maximum of Rs. 1 lakh only.
You can withdraw as a onetime lump sum amount or one withdrawal per year for a maximum of 5 years. Yearly withdrawal amounts need to be equal.

Premature closure of Sukanya Samriddhi Account

You can close the SSA account before maturity under the following situations.

Death Of girl child.
Girl child becomes NRI or citizen of another country.
extreme difficulties in maintaining the account .
For any other reasons.

Nomination Facility for Sukanya Samriddhi Account

Nomination Facility not available in this scheme.
If the girl child dies , the account will be closed immediately and the balance along with interest will be paid to the parent or the legal guardian of the girl child.

Passbook for Sukanya Samriddhi Account

When you open SSA account , you will be given a passbook. This is similar to the one issued by the Bank or post office when you open a savings bank account. The passbook will contain the following details.

Account number
Date of account opening
Name of the girl child
Address of the girl child
Name of the parent or guardian
Address of the parent or guardian
Relationship of parent or guardian with the girl child.

You need to take the passbook when you deposit , receive interest , withdraw and close the account.

You also have the option to maintain the account completely in “Online Banking” method if the bank or Post office provides CBS (Core Banking Solutions) facility.

Duplicate Passbook Sukanya Samriddhi Account

Duplicate Passbook facility is available. you can apply for duplicate passbook in case of loss or damage of the original passbook. You need to pay a fee of Rs. 50 to get the duplicate passbook.

SSA Maturity Amount projection Table

Let us take an example of a monthly SSA investment and see how much maturity amount a girl child is going to get after the maturity.

Monthly Amount	Deposit Period in years	Interest Rate	Total Deposit in Rs.	Total Interest earned in Rs.	Maturity Amount after 21 years in Rs.( Total deposit + Interest Earned )
1000	15	7.6%	1,80,000	3,30,370	5,10,370
2000	15	7.6%	3,60,000	6,60,740	10,20,740
3000	15	7.6%	5,40,000	9,91,111	15,31,111
4000	15	7.6%	7,20,000	13,21,481	20,41,481
5000	15	7.6%	9,00,000	16,51,852	25,51,852
6000	15	7.6%	10,80,000	19,82,222	30,62,222
7000	15	7.6%	12,60,000	23,12,593	35,72,593
8000	15	7.6%	14,40,000	26,42,963	40,82,963
9000	15	7.6%	16,20,000	29,73,333	45,93,333
10000	15	7.6%	18,00,000	33,03,704	51,03,704
11000	15	7.6%	19,80,000	36,34,074	56,14,074
12000	15	7.6%	21,60,000	39,64,445	61,24,445
12500	15	7.6%	22,50,000	41,29,630	63,79,630

SSA Maturity Amount projection Table

FAQ about Sukanya Samriddhi Account

Is there any loan facility available from Sukanya Samriddhi Account ?

No , there is no Loan facility is available in this scheme.

Is there option of account transfer for Sukanya Samriddhi Account ?

Yes Account transfer facility is available. You can transfer the SSA account from one post office to another post office . One bank to another bank. from post office to bank and vice versa.
Account transfer is free of cost if the girl child or the parent or guardian is shifting house from one place to another place.
If you want to transfer for other reasons, then you have to pay Rs. 100 to the Bank or Post Office to which you want to transfer the account.

I am NRI can I open the Sukanya Samriddhi Account?

NRI (Non Residential Indian) are not eligible to open the account.

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What is PPF Investment Scheme | Public Provident Fund | 1 Best Guaranteed Returns

May 16, 2022

by Prabir Jana with No Comment Investment Scheme

In this blog post I will be explaining my analysis on PPF Investment scheme. This will be a complete guide on PPF investment scheme. Please read till end of the blog post to know the complete information about this PPF investment scheme. Lets get started.

What is PPF ?

PPF stands for Public Provident Fund. PPF is Saving Scheme which has been established by Government of India. It is a safe and tax deductible investment scheme with very attractive returns that are fully exempted from income tax. It is long term saving scheme.

Features

Safe Investment option
Guaranteed returns
Backed by Central Government
Attractive Tax Benefits
Long term Saving Scheme
Account cant be attached to any claim in case of debt or liability. so the money is completely yours.

Eligibility

An Individual who is a resident of India can open a PPF account to himself .
Also , he/she can open another PPF account on behalf of a minor child or a person of unsound mind of whom he/she is guardian
Minor will operate the account himself when he or she becomes major.
Any Individual can have only one PPF account under his name either in Post Office or Bank.
Individuals having General provident fund or employee provident fund can also open a PPF account.

Where Can you Open PPF ?

State Bank of India or its Associates
Post office
Any Nationalised Banks
Some private sector banks

Deposit Limit

Minimum deposit required per financial year is Rs. 500
Maximum Deposit Allowed per financial year is Rs. 150000
Deposit amount should be in multiplies of Rs. 50
Deposit can be made in one lump sum or in instalments in a financial year
There is no limit on the number of instalments in a month or in a financial year.

Best time to deposit the money

With PPF , the financial year 1st April to 31st March concept of deposit.
Amount deposited at the beginning of the financial year earns more interest than the amount deposited towards the end of the financial year.
If you are planning to deposit yearly, then 1st to 5th of April.
if you are planning to to deposit monthly then 1st to 5th of every month.
If you are planning to deposit quarterly, then 1st to 5th of April, July, October and January
If you are planning to deposit half yearly , then 1st to 5th of April and October.

In-Active PPF Accounts

PPF account will become in-active if you don’t deposit the minimum amount during any financial year.
You can re-activate the same by paying a penalty of Rs. 50 for each financial year of default and minimum deposit amount of Rs. 500 for each financial year of default.
Even if you don’t re-activate the account, the inactive account will continue to earn the interest as per the interest rate applicable to the scheme from time to time till the maturity.
If the accounts become in-active , then you are not allowed to open another PPF account till you close the inactive account after the maturity period.

PPF Interest Rate

The current interest rate is 7.10%.
Annual Interest rate is not fixed and it is determined by the Central Government from time to time.
From 01-Apr-2016 onwards, interest rate for this scheme has been announced by the government on a quarterly basis. This used to be on a yearly basis earlier.

Compounding Frequency

PPF Account compounds annually. Interest earned every month during the financial year will be credited to the account at the end of the financial year that is on 31st March.

Loan Facility

Loan facility is available from 3rd financial year to 6th financial year of opening the account.
You are eligible for loan if your account is active. Inactive accounts won’t qualify for the loan.
The eligible loan amount is 25% of the account balance at the end of the 2nd financial year immediately preceding the year in which the loan is applied for.
The loan principle amount should be re-paid within 3 years from the first day of the month following the month in which the loan is sanctioned.
The repayment of principle amount can be be made in one lump sum or in a maximum of 36 months.
Once the principle amount is fully repaid the loan interest need to be repaid within 2 monthly installments.
The interest rate will be at the rate of 1% per annum above the applicable PPF interest rate from the 1st day of the month following the loan sanctioned to the last day of the month of last installment.
If the loan principle is partly paid or not paid within the 3 years time, the outstanding loan principle amount will be charged at 6% per annum above the applicable PPF interest rate from the 1st day of the month following the loan sanctioned to the last day of the month in which the loan is finally repaid.
You are not eligible for another loan when you already have a loan and it is not fully repaid.
You are eligible for only one loan in a financial year even if you have already repaid your existing loan.

PPF Withdrawals

Partial Withdrawals is allowed from 7th financial year of the opening the account .
Only one withdrawal is allowed per financial year.
You are eligible for withdrawal if your account is active. Inactive accounts won’t qualify for withdrawal.
Withdrawal limit is 50% of the account balance.
If you had availed any loan , then the unpaid loan amount will be deducted from the withdrawal amount.
Any amount is withdrawn is not repayable.

Procedure for PPF withdrawal

Step 1: Fill in the application form using Form C with relevant information.
Step2: Submit the application to the concerned branch of the bank where your PPF account lies. This form is available for download here.

PPF Income tax benefits

PPF is one investment vehicle that falls under the Exempt-Exempt-Exempt (EEE) category. This, in other words, means that all deposits made in the PPF are deductible under Section 80C of the Income Tax Act. However, it should be noted that the maximum contribution in PPF cannot exceed Rs.1.5 lakh in one financial year.
Furthermore, the accumulated amount and interest is also exempt from tax at the time of withdrawal. It is important to note that a PPF account cannot be closed before maturity.
A PPF account, however, can be transferred from one point of designation to another. But, do remember that a PPF account cannot be closed prematurely. Only in the case of the account holder’s demise can the nominee’s file for the closure of the account or some genuine critical situation. please check premature closure section for more details.

NRI PPF Account

NRI (Non Resident Indian ) are not eligible to open a new public provident fund account.
But , If a resident having public provident fund becomes NRI, then he can choose one of the following two approach.

He/she can continue the account till maturity on a non-repatriation basis. no extension is allowed after maturity.
He/she can pre-maturely close the account subject to certain condition please check premature closure section for more details.

Extension Without Deposits

The account holder can continue to withdraw every financial year.
One withdrawal is allowed per financial year.
There is no limit on the withdrawal amount.
The amount remaining in the account will continue to earn interest (At the PPF interest rate till it is fully withdrawn) .
Once you choose to extend without deposits , you can’t change the account to with deposits.

Extension With Deposits

The extension period can be for a block of 5 financial years. There is no limit on the number of blocks.
The deposit limits during the extension are same as that of the PPF account.
During the extended period, one withdrawal is allowed per financial year.
The total withdrawal limit during the extended 5 year block should not exceed 60% of the account balance at the start of the extension period.

Premature Closure of PPF account

You can close public provident fund account before maturity. But this will be allowed in the following genuine situations.

Medical treatment of life threating disease to you, your spouse, dependent children or parents.
Yours and your dependent children higher education.
If you become NRI.

The premature closure is allowed from the 7th financial year of account opening.
There is a penalty for premature closure of PPF account. If you close the account prematurely then the interest will be calculated at 1% lesser than the interest rate applicable to the scheme from time to time since the date of account opening.
For example if the interest rate for a quarter is 8.5% the you will earn interest for 7.5% only for that quarter.

Nomination

Nomination facility is available under public provident fund scheme . The account holder can nominate one or more persons to receive the amount standing to his credit in the event of his death.
Nomination cant be made on the account opened on behalf of minor.
The account holder cant nominate a trust as his nominee .
A nomination made by the account holder can be cancelled or changed by a fresh nomination.
If the nominee is minor, then the account holder can appoint any person to receive the amount in the event of his death during the minority of the nominee.
If the nomination is not in force at the time of death of the account holder, then the amount standing to his credit can be paid to the legal heirs of the deceased.

PPF Account transfer

PPF account can be transferred from

One bank to another bank.
One post office to another post office.
One bank to another post office and vice versa.

PPF account can not be transferred from one person to another person.

PPF Maturity Amount projection Table

Let us take an example of a monthly public provident fund investment and see how much maturity amount we are getting after the maturity.

Monthly Amount	Period in years	Interest Rate	Total Deposit in Rs.	Total Interest earned in Rs.	Maturity Amount in Rs.( Total deposit + Interest Earned )
1000	15	7.1%	1,80,000	1,35,568	3,15,568
2000	15	7.1%	3,60,000	2,71,136	6,31,136
3000	15	7.1%	5,40,000	4,06,704	9,46,704
4000	15	7.1%	7,20,000	5,42,272	12,62,272
5000	15	7.1%	9,00,000	6,77,840	15,77,840
6000	15	7.1%	10,80,000	8,13,408	18,93,408
7000	15	7.1%	12,60,000	9,48,976	22,08,976
8000	15	7.1%	14,40,000	10,84,544	25,24,544
9000	15	7.1%	16,20,000	12,20,112	28,40,112
10000	15	7.1%	18,00,000	13,55,680	3155680
11000	15	7.1%	19,80,000	14,91,248	34,71,248
12000	15	7.1%	21,60,000	16,26,816	37,86,816
12500	15	7.1%	22,50,000	16,94,600	39,44,600

PPF Maturity Amount projection Table

FAQ about PPF saving scheme

Which is the best bank for a PPF account?

PPF accounts are offered by the Government of India and are not specific to a bank. Also, all banks provide the same set of features and benefits when you open a PPF account. The interest rate is set by the government and it remains the same wherever the PPF account is held. Therefore, there is no best bank that offers a PPF account.

What is the minimum lock-in period for a PPF account?

The minimum lock-in period for a PPF account is 15 years, the actual tenure of the PPF account.

Is it mandatory to withdraw the PPF account balance at the end of the 15 years?

It is not mandatory . You can let the money stay in the account so that it accrues interest as long as you close the account.

Can I extend the tenure of the account for 3 years since I may need the sum then?

You can only extend the account tenure in the blocks of five years upon maturity.

How many times am I allowed to extend the tenure in the blocks of five years?

There is no upper limit on the number of times you can extend the tenure of the account as long as you extend it in the blocks of five years. However, you can only extend the tenure upon the maturity of each block.

For Further Reading of this Blog. Please check out the below articles.

To know more about PPF and its calculator please read here

Latest FD Interest Rates | 43 bank’s fixed Deposit interest rate

May 14, 2022

by Prabir Jana with No Comment Interest Rates

Hello Friends, Welcome to my Blog Investinfy.com the best financial blogs where you will be able to read about the end to end information on many investment schemes and financial topics. This blog post will help you to find the out the latest FD interest rates of top 43 Indian banks

Types of banks
List of Public Sector banks and their FD Interest rates
List of Private Sector banks and their FD Interest rate
List of Small Finance Banks and their FD Interest rate
FAQ About FD Interest Rate

Types of banks

Let us understand what the various types of banks available in India.

Public sector banks.
Private Sector banks
Small Finance banks

List of Public Sector banks and their FD Interest rates

Bank Name	FD Interest Rates for General public ( Terms 5 to 10 Years )	FD Interest Rates for Senior Citizen( Terms 5 to 10 Years )	Effective From date (DD/MM/YYYY)
Bank Of Baroda	5.35%	6.35%	22/03/2022
Bank of India	5.05%	5.55%	01/08/2021
Bank Of Maharashtra	4.9%	5.4%	08/01/2021
Canara bank	5.5%	6%	01/03/2022
Central bank of India	5.15%	5.65%	10/02/2022
Indian bank	5.15%	5.65%	05/04/2022
Indian Overseas Bank	5.45%	5.95%	11/01/2022
Punjab National bank	5.25%	5.75%	01/08/2021
State Bank Of India	5.5%	6.3%	15/02/2022
UCO Bank	5.3%	5.8%	11/03/2022
Union Bank Of India	5.5%	6%	09/04/2022

Public Sector banks and their FD Interest rates

List of Private Sector banks and their FD Interest rate

Bank Name	FD Interest Rates for General public ( Terms 5 to 10 Years )	FD Interest Rates for Senior Citizen( Terms 5 to 10 Years )	Effective From date (DD/MM/YYYY)
HDFC Bank	5.6%	6.35%	20/04/2022
ICICI Bank	5.6%	6.35%	20/01/2022
Axis bank	5.75%	6.5%	27/04/2022
Bandhan bank	5.6%	6.35%	12/01/2022
City Union Bank	5%	5%	01/08/2021
CSB Bank	5.5%	6%	02/11/2021
DCB Bank	6.25%	6.75%	07/03/2022
Dhanalaxmi bank	5.5%	6%	01/08/2021
Federal Bank	5.6%	6.25%	22/02/2022
IDBI Bank	4.8%	5.3%	20/04/2022
IDFC First bank	6%	6.5%	21/01/2022
IndusInd Bank	6%	6.5%	16/02/2022
Jammu & Kashmir Bank	5.3%	5.8%	11/02/2022
Karnataka Bank	5.5%	6.0%	01/04/2022
Karur Vysa bank	5.8%	6.15%	18/02/2022
Kotak Mahindra Bank	5.6%	6.1%	12/04/2022
Nainital Bank	5.35%	5.85%	10/02/2022
RBL Bank	5.75%	6.25%	03/02/2022
South Indian Bank	5.5%	6%	22/04/2022
YES Bank	6.25%	7%	04/01/2022

Private Sector banks and their FD Interest rates

List of Small Finance Banks and their FD Interest rate

Bank Name	FD Interest Rates for General public ( Terms 5 to 10 Years )	FD Interest Rates for Senior Citizen( Terms 5 to 10 Years )	Effective From date (DD/MM/YYYY)
AU Small Finance Bank	6.75%	7.25%	23/02/2022
Capital Small Finance Bank	6.3%	6.8%	05/01/2022
Equitas Small Finance Bank	6%	6.5%	21/03/2022
ESAF Small Finance Bank	5.25%	5.75%	18/04/2022
Fincare Small Finance Bank	5.5%	6%	27/04/2022
Jana Small Finance Bank	6%	6.8%	12/04/2022
North East Small Finance Bank	6.25%	7%	01/01/2022
Shivalik Small Finance Bank	5.5%	6%	18/04/2022
Suryoday Small Finance Bank	6%	6.5%	10/03/2022
Ujjivan Small Finance Bank	6%	6.75%	31/12/2021
Utkarsh Small Finance Bank	6%	6.5%	20/01/2022

Small Finance Banks and their FD Interest rates

FAQ About FD Interest Rate

Which bank gives the highest FD Interest rate in India?

AU Small Finance Bank
FD Interest Rate for General public ( Terms 5 to 10 Years ) 6.75%
FD Interest Rate for Senior Citizen( Terms 5 to 10 Years ) 7.25%
Effective from 23/02/2022

What is FD Interest rate of HDFC Bank ?

FD Interest Rate for General public ( Terms 5 to 10 Years ) 5.6%
FD Interest Rate for Senior Citizen( Terms 5 to 10 Years ) 6.35%
Effective from 20/04/2022

What is FD Interest rate of ICICI Bank ?

FD Interest Rate for General public ( Terms 5 to 10 Years ) 5.6%
FD Interest Rate for Senior Citizen( Terms 5 to 10 Years ) 6.35%
Effective from 20/01/2022

What is FD Interest rate of Axis Bank ?

FD Interest Rate for General public ( Terms 5 to 10 Years ) 5.75%
FD Interest Rate for Senior Citizen( Terms 5 to 10 Years ) 6.5%
Effective from 27/04/2022

What is FD Interest rate of Kotak Mahindra Bank ?

FD Interest Rate for General public ( Terms 5 to 10 Years ) 5.6%
FD Interest Rate for Senior Citizen( Terms 5 to 10 Years ) 6.1%
Effective from 12/04/2022

What is FD Interest rate of State bank of India | SBI Bank ?

FD Interest Rate for General public ( Terms 5 to 10 Years ) 5.5%
FD Interest Rate for Senior Citizen( Terms 5 to 10 Years ) 6.3%
Effective from 15/02/2022

What is FD Interest rate of Canara Bank ?

FD Interest Rate for General public ( Terms 5 to 10 Years ) 5.5%
FD Interest Rate for Senior Citizen( Terms 5 to 10 Years ) 6%
Effective from 01/03/2022

What are the Types Of Fixed Deposit/FD ?

There are two types of Fixed deposits.
1. TDR (Term Deposit Receipt)
2. STDR ( Special Term Deposit receipt )

Notes : We updates the interest rates every 6 months with the latest interest rates. Thanks for reading this blog post. If you really like please share and comment. Thanks . For more information about the FD interest rate read here.

What is RD investment Scheme | Recurring Deposit | Complete Step By Step guide | 1 Best Guaranteed returns

May 12, 2022

by Prabir Jana with No Comment Investment Scheme

Generally when we want to invest money on any investment scheme , we always asks our friends and relatives that where we can invest ? and they suggests the investment schemes which they like most. Then we invest as per their suggestions, that is good as we consider them as our well wisher , But here I want to mention one thing, if we know end to end information of each investment schemes at least it will help us to understand if that investment scheme is good for us or not.

In this blog post I will be explaining my analysis on RD Investment scheme. This will be a complete guide on RD investment scheme. Please read till end of the blog post to know the complete information about this RD investment scheme. Lets get started.

What is RD?
How Does RD work?
Features
Income Tax Benefits
Who can open the account ?
Deposit Amount
Penalty for Non-deposit
Term
Compounding frequency
RD Interest rate
Interest Credit Method
Pre-Mature closure
Loan facility
Nomination facility
Recurring Deposit Saving Projection Table
Conclusion
FAQ about RD saving scheme

What is RD?

RD stands for Recurring Deposit. RD is savings scheme where you can deposit a fixed amount every month for the chosen tenure. In this saving scheme, the interest earned will be compounded on quarterly basis.

This scheme is suitable for those people who wants to save a small amount every month and then receive a big amount at the end of the tenure.

I called this saving scheme as piggie box saving scheme with guaranteed returns. Generally at home everyone will have some piggie box where they keep their small small amount and at the end of the year they can see a lump sum amount in the piggie box . This saving scheme is also same but here you will be saving in bank and your money will earn money for you in the form of interest. Hence what could be better then this.

This saving scheme will also help you to be financially disciplined that every month you will start saving some money.

How Does RD work?

Step 1: Choose the monthly Deposit amount you want invest.
Step 2 : Choose the tenure.
Step 3 : Deposit the fixed amount every month for the chosen tenure.
Step 4 : At the end of the tenure you will get the maturity amount ( Deposit Amount + Interest earned ).

Features

Safe Investment Option
Guaranteed returns
Quarterly compounded interest
Helps you to save small amount every month and creates the habit of regular savings.
Senior Citizens get extra interest rate compared to other customers
RD can be used as a security to get loan

Income Tax Benefits

Income Tax benefits will be same on both old and new tax systems. No Income tax benefits on the monthly deposit amount.

There is a TDS (Tax deducted at source) from bank if the interest received more than Rs. 40000 in a financial year. This is for ordinary citizens. The new TDS limit of Rs. 40000 is from 01-April-2019 onwards. Earlier the limit was Rs. 10000 .

For Senior citizens, TDS limit is Rs. 50000 from 1st April 2018 onwards. Earlier the limit was Rs. 10000 .

Bank will provide TDS certificate for the tax deducted.

Interest received is taxable. you need to declare the interest income under ” income from other sources” during your tax returns filing and pay the income tax as per your income tax slab.

Depending upon the term of Recurring Deposit, you can choose to pay the tax either on maturity or every financial year.

Who can open the account ?

Any resident individuals can open the individual account.
Joint account can be created by 2 or more individuals.

Deposit Amount

Minimum Monthly deposit is Rs. 100
No Limit on the maximum monthly deposit amount
Monthly deposit amount should be in multiples of Rs. 10
once you decide the monthly deposit amount , it can not be changed later on.

Penalty for Non-deposit

You need to pay the penalty charges if you do not deposit the specified amount for a any particular month. Penalty charge varies from bank to bank.

Term

Minimum terms – 6 months
Maximum terms – 10 years
Term should be in multiples of three months. for an example 6 months, 9 months, 12 months, 15 months and so on.
few banks offer terms up to 20 years.

Compounding frequency

Quarterly compounding frequency is followed in this scheme

RD Interest rate

Interest rate is same as the TDR and STDR (Fixed Deposit) for the tenure of Recurring Deposit. Interest rate on the day of your RD account opening will remain same throughout the tenure of Recurring Deposit. It will not change even if there are changes to the interest rate thereafter. the Interest rate varies from bank to bank. For more information about the FD interest rate read here

Interest Credit Method

You will receive interest amount upon maturity of the scheme along with the deposit amount.

Pre-Mature closure

Pre-mature closure rules will be the same as TDR and STDR (Fixed Deposit) accounts.

Premature Closure of RD is possible . But there will be a penalty for the pre-mature closure. The penalty amount is generally 1% of the interest earned. Interest will be payable for the duration for which the TDR was kept minus the penalty amount. The penalty amount may change from time to time.

Loan facility

Loan facility is available up to 90% of the account balance (deposit amount plus accrued interest) in RD account.

Nomination facility

Nomination facility is available for Recurring Deposit Investment scheme. You can either nominate at the time of account opening or after opening the account (but before maturity).

Recurring Deposit Saving Projection Table

Let us take an example and see how much we can save and earn by saving small small amount monthly for a specific period.

Period in years	Monthly Deposited Amount in INR	General public Maturity Amount in INR (interest rate 5.40%)	Senior citizen Maturity Amount in INR (interest rate 6.20%)
5	5000	344850	352163
5	10000	689699	704327
5	15000	1034549	1056490
5	20000	1379398	1408654

Recurring Deposit saving Projection Table

Conclusion

To conclude this saving scheme, this is very good saving scheme for those people who does not want to take risk for their money and wants to save money for their children education and other committed responsibilities like marriage and all.

As per my case study, when I asked many of the Govt officials like teacher , doctors, civil services official they have opted this saving scheme in this way.

Every month they deposit some amount into their recurring deposit account and after 2 to 3 years they withdraw a lump sum amount from the recurring deposit account and put it for fixed deposit. they continue to repeat this process and accumulate a good saving amount after 10 to 15 years.
This Accumulated amount they can spend for their children’s higher studies and marriage etc.
Also many people opt this savings scheme for short term goals like purchasing car, household furniture etc.

FAQ about RD saving scheme

Is it possible to transfer my RD account from one branch to another branch?

Yes RD accounts can be transferred from one branch to another branch without any extra cost.

I am a NRI can I open RD account ?

NRI (Non resident Indians ) can not open residential recurring deposits account. But they can open NRI recurring deposits accounts and it is a different scheme completely.

What will be the penalty if I close the RD account before maturity period?

The penalty amount is generally 1% of the interest earned.

What is STDR Investment Scheme | Fixed Deposit | Special Term Deposit Receipt | 1 Best Guaranteed cumulative returns

May 9, 2022

by Prabir Jana with No Comment Investment Scheme

Hello Friends, Welcome to my Blog Investinfy.com the best financial blogs where you will be able to read about the end to end information on many investment schemes and financial topics. In this Blog post we will be focusing on STDR.

Generally when we want to invest money on any investment scheme , we always asks our friends and relatives that where we can invest ? and they suggests the investment schemes which they like most. Then we invest as per their suggestions, that is good as we consider them as our well wisher , But here I want to mention one thing, if we know end to end information of each investment schemes at least it will help us to understand if that investment scheme is good for us or not.

Hence it is better to have a complete idea about each investment scheme where we invest. Therefor this blog will help you to know end to end information of many Indian investment schemes available right Infront of you.

In this blog post I will be explaining my analysis on STDR Investment scheme. This will be a complete guide on STDR investment scheme. Please read till end of the blog post to know the complete information about this STDR investment scheme. Lets get started.

What Is STDR Investment Scheme?
How does STDR Investment scheme work?
Features of STDR Investment scheme
Who can open the STDR account ?
How do you open the STDR account ?
STDR Deposit limits
STDR terms
STDR Interest Rate
STDR Compounding Frequency
STDR Interest Credit Method
STDR Auto-Renewal Facility
Income Tax Benefits
Pre-Mature Closure of STDR
Loan Facility from STDR account
Account Conversions
Nomination Facility
STDR Earning Projection Table
FAQ about STDR Investment Scheme

What Is STDR Investment Scheme?

STDR Stands for Special Term Deposit receipt. STDR is a type of Fixed deposit where the interest will be compounded on a quarterly basis.

This scheme is also know as interest reinvestment or cumulative option. This scheme is suitable for the people who wants to receive a compounded amount at the ned of the tenure. that means if you have a lump sum amount with you and you wants to invest that amount in a safe and guaranteed scheme for long term then this investment scheme will be the best investment scheme for you.

Please read till end to know the complete information about STDR investment scheme.

How does STDR Investment scheme work?

Let us understand how does this STDR (Special Term Deposit Receipt) work easy step by step.

Step1 : You Need to deposit a lump sum amount for specific period.
Step2 : At the end of the tenure you will get the maturity amount that is deposit amount + interest earned.

Features of STDR Investment scheme

Safe Investment Option.
Guaranteed returns.
Quarterly compounded interest.
Senior citizens get extra interest rate compared to other customers.

Who can open the STDR account ?

Any resident individuals can open the individual account.
Joint account can be created by 2 or more individuals.

How do you open the STDR account ?

First you need to go your preferable bank and fill the required form requesting to open your STDR account.
Account can be opened by cash or cheque.
Date of realisation of cheque will be the date of account opening. That means if you are submitting the cheque to open the Special Term Deposit receipt account once the cheque is cleared and money is deposited to your bank account from that day the account opening date is counted and you will start earning the interest from the day.
If you have your saving accounts then you can create Special Term Deposit receipt from the saving account funds.

STDR Deposit limits

Minimum Deposit amount is Rs. 1000
No Maximum limit of deposit amount that means there is no maximum limit defined, hence you can deposit any amount above 1000 rupees and earn your monthly or quarterly income best on that.

STDR terms

Minimum Term – 6 Months
Maximum Term – 10 Years
Few banks offers more than 10 years terms .

STDR Interest Rate

Interest rate on the day of your Special Term Deposit receipt account opening will remain same throughout the tenure of STDR. It will not change even if there are changes to the interest rate thereafter.

The interest rate % varies from one bank to another bank. Please find the below current interest rates of few bank’s STDR FD .

Bank Name	Interest Rate for general citizen per year	Interest rate for Senior Citizen per year
State Bank Of India	2.90% to 5.50%	3.40% to 6.20%
HDFC Bank	2.50% to 5.60%	3.00% to 6.35%
Axis Bank	2.50% to 5.75%	2.50% to 6.50%
Canara Bank	2.90% to 5.50%	2.90% to 6.00%
Punjab National Bank	2.90% to 5.25%	3.50% to 5.75%

Bank Wise STDR Interest Rate %

The interest % varies depending upon the period of deposit. Please find the below table of SBI STDR FD interest rate as per the period of deposit. Longer the period. For more information about the FD interest rate read here

Period	Interest rate for general public	Interest rate for Senior citizen
180 days to 210 days	4.40%	4.90%
211 days to less than 1 year	4.40%	4.90%
1 year to less than 2 years	5.00%	5.50%
2 years to less than 3 years	5.10%	5.60%
3 years to less than 5 years	5.30%	5.80%
5 years and up to 10 years	5.40%	6.20%

SBI STDR FD Interest rate As per the Period

STDR Compounding Frequency

Quarterly compounding frequency is followed in the investment scheme.

STDR Interest Credit Method

You will receive interest amount upon maturity of the scheme along with the deposit amount.

STDR Auto-Renewal Facility

If you do not provide any specific instructions to your bank while opening the Special Term Deposit receipt account or before maturity. The Special Term Deposit receipt account is automatically renewed upon maturity.
It will be renewed for the same period for which it was opened initially.
The interest rate for the renewed period will be the interest rate on the day of maturity.

Income Tax Benefits

Effective 01-April-2020, the income tax benefits will depend upon whether you choose old tax system or new tax system.

Old Tax System

Deposit amount (upto Rs. 1.5 lakhs) under 5 years tax saving FD will qualify for tax deduction under section 80C of income tax Act.
No Tax Deduction benefits for deposit other than 5 years tax saving FD.
There is a TDS (Tax deducted at source) from bank if the interest received more than Rs. 40000 in a financial year. This is for ordinary citizens. The new TDS limit of Rs. 40000 is from 01-April-2019 onwards. Earlier the limit was Rs. 10000 .
Bank will provide TDS certificate for the tax deducted.
Interest received is taxable. you need to declare the interest income under ” income from other sources” during your tax returns filing and pay the income tax as per your income tax slab.

New Tax System

No income tax benefits. The deposit amount won’t get any deduction benefits under section 80C of any income tax Act.
There is a TDS (Tax deducted at source) from bank if the interest received more than Rs. 40000 in a financial year. This is for ordinary citizens. The new TDS limit of Rs. 40000 is from 01-April-2019 onwards. Earlier the limit was Rs. 10000.
For Senior Citizens, TDS limit is Rs. 50000 from 1st-April-2018 onwards. Earlier the limit was Rs.10000.
Bank will provide TDS certificate for the tax deducted.
Interest received is taxable. you need to declare the interest income under “ income from other sources” during your tax returns filing and pay the income tax as per your income tax slab.
Depending upon the term of Special Term Deposit receipt, you can choose to pay tax on interest either on maturity or every financial year.

Pre-Mature Closure of STDR

Premature Closure of special term deposit receipt is possible . But there will be a penalty for the pre-mature closure.
The penalty amount is generally 1% of the interest earned.
Interest will be payable for the duration for which the Special Term Deposit receipt was kept minus the penalty amount.
The penalty amount may change from time to time.

Loan Facility from STDR account

Loan facility is available upto 90% of the deposit amount plus accrued interest.

Account Conversions

Yes account conversions is possible from Special Term Deposit receipt (cumulative interest pay-out) account to TDR (regular interest pay-out) account and vice versa.

Nomination Facility

Nomination facility is available for STDR Investment scheme. You can either nominate at the time of account opening or after opening the account (but before maturity).

STDR Earning Projection Table

let us take an example and see how much we can earn by investing 10 lakhs rupees with STDR investment scheme with current interest of above SBI interest table.

Period in years	Deposited Amount in INR	General public Maturity Amount in INR	Senior citizen Maturity Amount in INR
4 years	1000000	1234428	1259020
5 years	1000000	1307600	1360186
6 years	1000000	1379653	1446499
7 years	1000000	1455677	1538289
8 years	1000000	1535889	1635903
10 years	1000000	1709818	1850108

STDR Earning Projection Table

FAQ about STDR Investment Scheme

Is it possible to transfer my STDR account from one branch to another branch?

Yes STDR accounts can be transferred from one branch to another branch without any extra cost.

I am a NRI can I open STDR account ?

NRI (Non resident Indians ) can not open residential fixed deposits. But they can open NRI fixed deposits accounts and it is a different scheme completely.

What will be the penalty if I close the STDR account before maturity period?

The penalty amount is generally 1% of the interest earned.

What is the difference between TDR and STDR?

The main difference between TDR and STDR is .
TDR is a type of fixed deposit where we can opt to receive monthly or quarterly interest.
STDR is a type of Fixed deposit where the interest will be compounded on a quarterly basis and the interest pay-out happens after the maturity period.

What is TDR Investment Scheme | Fixed Deposit | Term Deposit Receipt | 1 Best Guaranteed monthly returns

May 8, 2022

by Prabir Jana with No Comment Investment Scheme

In this blog post I will be explaining my analysis on TDR Investment scheme. This will be a complete guide on TDR investment scheme. Please read till end of the blog post to know the complete information about this TDR investment scheme. Lets get started.

What is TDR?
How Does TDR work?
Features of TDR
Who can open the TDR Account?
How Do you Open the TDR Account ?
TDR Deposit Limits
TDR Terms
TDR Interest Rate
TDR Compounding Frequency
TDR Interest Credit Method
TDR Auto-Renewal Facility
Income Tax Benefits
Pre-Mature Closure of TDR
Loan Facility from TDR account
Account Conversions
Nomination Facility
TDR Earning Projection Table
FAQ about TDR Investment Scheme

What is TDR?

TDR stands for Term Deposit Receipt. TDR is a type of fixed deposit where we can opt to receive monthly or quarterly interest.

This scheme is also known as Interest Pay-out Scheme and this scheme is best suitable for the people who wants to receive a regular income.

How Does TDR work?

Let us understand how does this TDR (Term deposit receipt) work easy step by step.

Step1 : You Need to deposit a lump sum amount for specific period.
Step2 : You need to specify whether you want to receive the interest Monthly or Quarterly .
Step3 : You will receive interest as per your chosen interest frequency till the end of your tenure.
Step4 : At the end of your tenure you will get your deposit amount back.

Features of TDR

Safe Investment Option
Guaranteed returns
Regular monthly or quarterly income
Senior citizens get extra interest rate compared to other customers.

Who can open the TDR Account?

Any resident individuals can open the individual account.
Joint account can be created by 2 or more individuals.

How Do you Open the TDR Account ?

First you need to go your preferable bank and fill the required form requesting to open your TDR account.
Account can be opened by cash or cheque.
Date of realisation of cheque will be the date of account opening. That means if you are submitting the cheque to open the TDR account, once the cheque is cleared and money is deposited to your bank account from that day the account opening date is counted and you will start earning the interest from the day.
If you have your saving accounts then you can create TDR from the saving account funds.

TDR Deposit Limits

Minimum Deposit amount is Rs. 1000.
No Maximum limit of deposit amount that means there is no maximum limit defined hence you can deposit any amount above 1000 rupees and earn your monthly or quarterly income best on that.

TDR Terms

Minimum Term – 7 days
Maximum Term – 10 Years
few banks offers more than 10 years terms .

TDR Interest Rate

Interest rate on the day of your Term deposit receipt account opening will remain same throughout the tenure of TDR. It will not change even if there are changes to the interest rate thereafter.

The interest rate % varies from one bank to another bank. Please find the below current interest rates of few bank’s Term deposit receipt FD .

Bank Name	Interest Rate for general citizen per year	Interest rate for Senior Citizen per year
State Bank Of India	2.90% to 5.50%	3.40% to 6.20%
HDFC Bank	2.50% to 5.60%	3.00% to 6.35%
Axis Bank	2.50% to 5.75%	2.50% to 6.50%
Canara Bank	2.90% to 5.50%	2.90% to 6.00%
Punjab National Bank	2.90% to 5.25%	3.50% to 5.75%

Bank Wise TDR Interest Rate %

The interest % varies depending upon the period of deposit. Please find the below table of SBI Term deposit receipt FD interest rate as per the period of deposit. Longer the period higher the interest rate. For more information about the FD interest rate read here

Period	Interest rate for general public	Interest rate for Senior citizen
7 days to 45 days	2.90%	3.40%
46 days to 179 days	3.90%	4.40%
180 days to 210 days	4.40%	4.90%
211 days to less than 1 year	4.40%	4.90%
1 year to less than 2 years	5.00%	5.50%
2 years to less than 3 years	5.10%	5.60%
3 years to less than 5 years	5.30%	5.80%
5 years and up to 10 years	5.40%	6.20%

SBI TDR FD Interest rate As per the Period

TDR Compounding Frequency

Compound interest is not applicable for this scheme. Simple interest calculation is followed in this scheme.

TDR Interest Credit Method

You can receive interest either Monthly or Quarterly as per your requirement .

TDR Auto-Renewal Facility

If you do not provide any specific instructions to your bank while opening the Term deposit receipt account or before maturity. The Term deposit receipt account is automatically renewed upon maturity.
It will be renewed for the same period for which it was opened initially.
The interest rate for the renewed period will be the interest rate on the day of maturity.

Income Tax Benefits

Effective 01-April-2020, the income tax benefits will depend upon whether you choose old tax system or new tax system.

Old Tax System

Deposit amount (upto Rs. 1.5 lakhs) under 5 years tax saving FD will qualify for tax deduction under section 80C of income tax Act.
No Tax Deduction benefits for deposit other than 5 years tax saving FD.
There is a TDS (Tax deducted at source) from bank if the interest received more than Rs. 40000 in a financial year. This is for ordinary citizens. The new TDS limit of Rs. 40000 id from 01-April-2019 onwards. Earlier the limit was Rs. 10000 .
Bank will provide TDS certificate for the tax deducted.
Interest received is taxable. you need to declare the interest income under ” income from other sources” during your tax returns filing and pay the income tax as per your income tax slab.

New Tax System

No income tax benefits. The deposit amount won’t get any deduction benefits under section 80C of any income tax Act.
There is a TDS (Tax deducted at source) from bank if the interest received more than Rs. 40000 in a financial year. This is for ordinary citizens. The new TDS limit of Rs. 40000 id from 01-April-2019 onwards. Earlier the limit was Rs. 10000.
For Senior Citizens, TDS limit is Rs. 50000 from 1st-April-2018 onwords. Earlier the limit was Rs.10000.
Bank will provide TDS certificate for the tax deducted.
Interest received is taxable. you need to declare the interest income under “ income from other sources” during your tax returns filing and pay the income tax as per your income tax slab.

Pre-Mature Closure of TDR

Premature Closure of term deposit receipt is possible . But there will be a penalty for the pre-mature closure.
The penalty amount is generally 1% of the interest earned.
Interest will be payable for the duration for which the TDR was kept minus the penalty amount.
The penalty amount may change from time to time.

Loan Facility from TDR account

Loan facility is available upto 90% of the deposit amount.

Account Conversions

Yes account conversions is possible from TDR (regular interest pay-out) account STDR (cumulative interest pay-out) and vice versa.

Nomination Facility

Nomination facility is available for TDR Investment scheme. You can either nominate at the time of account opening or after opening the account (but before maturity).

TDR Earning Projection Table

let us take an example and see how much we can earn monthly interest by investing 10 lakhs rupees with TDR investment scheme with current interest of above SBI interest rate table.

Period in years	Deposited Amount in INR	General public Monthly interest Amount in INR	Senior citizen Monthly interest Amount in INR
4 years	1000000	4398	4810
6 years	1000000	4480	5140
Period in years	Deposited Amount in INR	General public Quarterly interest Amount in INR	Senior citizen Quarterly interest Amount in INR
4 years	1000000	13250	14500
6 years	1000000	13500	15500

TDR Earning Projection Table

Once the period is over you will get back your deposited amount. Now you can plan as per your needs.

FAQ about TDR Investment Scheme

Is it possible to transfer my TDR account from one branch to another branch?

Yes TDR accounts can be transferred from one branch to another branch without any extra cost.

I am a NRI can I open TDR account ?

NRI (Non resident Indians ) can not open residential fixed deposits. But they can open NRI fixed deposits accounts and it is a different scheme completely.

What will be the penalty if I close the TDR account before maturity period?

The penalty amount is generally 1% of the interest earned.

Thanks for reading this blog post. If you really liked this blogpost please share with your friends and relatives.

Table of Contents

What is Sukanya Samriddhi Account ?

History of Sukanya Samriddhi Account

How Does Sukanya Samriddhi Account Work ?

Features of Sukanya Samriddhi Account

Who can Open Sukanya Samriddhi Account ?

How Many Sukanya Samriddhi Account can be opened for one Girl Child ?

Where can you open account ?

What are the documents required to open SSA ?

What is the Deposit Limit of SSA

Deposit Period of SSA

What are the Income Tax Benefits of SSA

How to Deposit Money into SSA ?

In-Active SSA account.

Interest Rate of Sukanya Samriddhi Account.

Compounding Frequency of Sukanya Samriddhi Account.

Maturity Period of Sukanya Samriddhi Account scheme

Partial Withdrawal from Sukanya Samriddhi Account

Premature closure of Sukanya Samriddhi Account

Nomination Facility for Sukanya Samriddhi Account

Passbook for Sukanya Samriddhi Account

Duplicate Passbook Sukanya Samriddhi Account

SSA Maturity Amount projection Table

FAQ about Sukanya Samriddhi Account

Is there any loan facility available from Sukanya Samriddhi Account ?

Is there option of account transfer for Sukanya Samriddhi Account ?

I am NRI can I open the Sukanya Samriddhi Account?

Table of Contents

What is PPF ?

Features

Eligibility

Where Can you Open PPF ?

Deposit Limit

Best time to deposit the money

In-Active PPF Accounts

PPF Interest Rate

Compounding Frequency

Loan Facility

PPF Withdrawals

Procedure for PPF withdrawal

PPF Income tax benefits

NRI PPF Account

Extension Without Deposits

Extension With Deposits

Premature Closure of PPF account

Nomination

PPF Account transfer

PPF Maturity Amount projection Table

FAQ about PPF saving scheme

Which is the best bank for a PPF account?

What is the minimum lock-in period for a PPF account?

Is it mandatory to withdraw the PPF account balance at the end of the 15 years?

Can I extend the tenure of the account for 3 years since I may need the sum then?

How many times am I allowed to extend the tenure in the blocks of five years?

Table of Contents

Types of banks

List of Public Sector banks and their FD Interest rates

List of Private Sector banks and their FD Interest rate

List of Small Finance Banks and their FD Interest rate

FAQ About FD Interest Rate

Which bank gives the highest FD Interest rate in India?

What is FD Interest rate of HDFC Bank ?

What is FD Interest rate of ICICI Bank ?

What is FD Interest rate of Axis Bank ?

What is FD Interest rate of Kotak Mahindra Bank ?

What is FD Interest rate of State bank of India | SBI Bank ?

What is FD Interest rate of Canara Bank ?

What are the Types Of Fixed Deposit/FD ?

Table of Contents

What is RD?

How Does RD work?

Features

Income Tax Benefits

Who can open the account ?

Deposit Amount

Penalty for Non-deposit

Term

Compounding frequency

RD Interest rate

Interest Credit Method