Tuesday, August 27, 2013

Obtaining Lucrative Bank FD Interest Rates



Bank FDs are a highly sought-after financial instrument these days. With judicious and attractive schemes being offered with these FDs is what is making it all the more popular. The most dynamic feature of bank fixed deposits is that customers can avail loans against these FDs up to 85 to 95 percent of the value of deposits. The bank FD interest rates come with easy repayment options and are not very highly marked.
Bank FDs popularity is not limited to the boundaries of Indian territory, the Non Resident Indians can also open these accounts. In fact this type of investment is very common among NRIs. Tax is deducted by the banks on FDs if interest paid to a customer at any bank exceeds Rs. Ten thousand in a financial year.

Summary: The bank FD interest rates are quite feasible when it comes to taking loans on these FDs. This fact has made bank fixed deposits a popular and preferred investment option with Indians as well as NRIs.