The maturity amount depends on the tenure. Longer tenures provide better interest rates; keep in mind that holding your money for a longer period lowers liquidity. Consult your bank to determine the exact maturity value based on the term you have selected.
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Is investing in long-term FDs better for the future? -
Which one is better for savings: RD or FD?If you have a consistent income, RD is the most suitable option for you. RD is a good option for beginners likeRD is an excellent choice for those who are just starting their savings journey, asOn the other hand, FD is a one-time deposit scheme that offers a high interest rate, but its flexibility is limited.
So for regular savings, choose RD if you want to start with a low amount, and FD you can choose for a higher interest rate.
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Canara Bank FDThere is 1% penalty on the applicable interest rate for early withdrawal of FD below ₹3 crore. Basically, the penalty amount depends on the deposit duration and withdrawal terms.
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What is the impact of repo rates on T-bills?With the increase in the repo rate, there will eventually be an increase in T-bill yields. With this, investors get higher returns on investments. So its very important to consider the general economic situation and future interest rates in the coming years. The interest rate will continue to rise in the future. So locking in your investment is a good move.
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Can Bitcoin become another payment method option in India?Bitcoin is legal in India, but the government of India has yet to recognize it as an official payment method. The present law does not support their usage for daily transactions. More than as a payment option, people use Bitcoin for investment purposes. But it is uncertain whether the government will acknowledge bitcoin as a payment option in the future or not.
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How do legal frameworks impact CoinSwitch Kuber and ZebPay?The bitcoin exchange is definitely going to face the challenges with the change in the legal framework. These platforms must navigate through stringent tax laws, safety regulations, and potential restrictions on the legality of their operations. The policies of the government and the clarity of laws will decide the fate of crypto in India.
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Is the BHIM app secure for online payments?The National Payments Corporation of India (NPCI) guards your data to be stolen as NPCI implements robust security standards to ensure the safety of digital transactions, by providing three-factor authentication, encrypted transactions, and access control, which makes it safe for use. So you can simply use the BHIM app to pay your bills.
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What are the documents required to open a savings account?A valid ID proof, such as an Aadhar card, and two passport-size photographs are required. Other than PNB, you can think about SBI or Axis Bank, as both banks provide extra advantages for the students, like low MAB requirements, free debit cards, access to internet banking, and many more.
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Which is the best bank for a demat account?There are some popular options like Zerodha and Upstox that have lower broker fees. There are some banks like ICICI or HDFC, also have facility of an integrated account but have higher charges. So research properly according to your investment goals and budget and then choose.
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Need a car suggestionFor a perfect road trip, you should choose those cars that have good mileage, lots of space and give you extra comfort for long drives. For that, you should consider buying compact SUVs like Tata Nexon, Kia Sonet, or Creta. All these cars have good qualities as well as perfectly fit into your budget. These cars offer you a good balance between city driving and highway performance, which is perfect for you.