5 points to check in an FD Receipt
With interest rates ruling high, bank deposits have emerged as an attractive investment option for many.
Here are five important factors you should check in your fixed deposit receipt:


1) Rate of interest and term
It may be appear to be a very basic thing for a fixed deposit investor, but it is better to double check if the rate and term mentioned in the receipt are correct, especially when you are renewing the old fixed deposit.

Sometimes, banks discontinue old schemes and the rate of interest also changes. If you have opted to receive interest at regular intervals, say quarterly, do check if it is mentioned in the receipt. If not, it is better to check again with banker.

2) Dates of maturity, auto renewal
The date of maturity is mentioned on the receipt. If you are planning for a particular need, say gifting a sum to your daughter on her birthday, it is better double check the date of maturity. If you have opted for auto renewal of a fixed deposit, check if it is mentioned in the receipt.
3) Prepayment penalty
If there is any penalty, it should be mentioned in the receipt. When a bank says it charges 1% as prepayment penalty, it means it will pay 1% less than the applicable rate of interest for the term the deposit has run. For example, if you made a fixed deposit for a year at 9%, but withdrew it after six months and if the bank offers 7% for a six-month FD, then you will be paid a rate of interest of 6%.

4) Nomination
Please check if the receipt also acknowledges that you have made a nomination. A simple form can help you register your nomination for the fixed deposit. In case of the unfortunate death of a deposit holder, the nominee is paid the FD proceeds.

5) Declaration to save TDS
Banks deduct tax at source if the interest income exceeds 10,000. If your income falls in the 'no income tax bracket', you can submit declaration in form 15G or form 15H, as applicable. But do ensure that the same is recorded in the banker's records. Some banks make specific mention of such submissions on the bank fixed deposit receipts.
(Updated - 18 Feb 2012)
Welcome to Indian Share Market
buy stock,buy back shares,buy and sell,best buy stocks,buy or sell sugar stocks,buy sell,online stock,buying selling,shares to buy,purchase,sell share,buy back,in India,prices,back,trading,buying,how to online prices,sharemarket sugar companies industries,news sugar industries shares tips,trading,how to invest in,investment in,learn share market price rates
investment,financial investment,companies,finance,funds,market,investment online services,return on investment,best,bond,bonds,corporate,bse India,bse live,market,bse trading,high return,high yield,advice,growth,information,opportunities,securities,strategy,long term trading,shares,stocks,stock market,bse sensex,value,delivery based trade,delivery based trading,delivery trade,delivery trading,short term,mid term,how to invest,investing,how to make money,internet business,financial planning,online business,nifty,nse India,nse live,online money making profit,investing online,make money on internet,quick,margin trading,opportunity,fund,program,nse trading,sensex,nifty,nse market
Your Desire to Earn
HomeFree Technical ChartsFree AdviceContact usSuggestions/Complaints|
Stocks for InvestmentReadersOur TargetDemat Account OpeningFree Subscription|
www.DayTradingShares.com
Disclaimer: Information presented on this site is a guide only. It may not necessarily be correct and is not intended to be taken as financial advice nor has it been prepared with regard to the individual investment needs and objectives or financial situation of any particular person. Stock quotes are believed to be accurate and correctly dated, but www.daytradingshares.com does not warrant or guarantee their accuracy or date.
www.daytradingshares.com takes no responsibility for any investment decisions based on recommendations provided on website.
Financial contents like Technical charts, historical charts and quotes are taken from NSE and Yahoo sites.
Note - All quotes are delayed by 15 minutes and unless specified.

Google Adsense Ads are posted on every page of the website so visitors clicking on Ads and going to those links and carrying any financial deal is not at all related to www.daytradingshares.com and any financial deal should be done on their own sole responsibility.
Please read at
www.daytradingshares.com/disclaimer.php before using any material or advice given at www.daytradingshares.com
Copyright 2005-2012 DayTradingShares.com. All Rights Reserved