Rate this post by selecting a number. 1 is the worst and 5 is the best.

Author Message   Musicfan Celebrity Bewarse Username: Musicfan Post Number: 41370 Registered: 05-2004 Rating: N/A Votes: 0 Posted on Thursday, August 16, 2012 - 11:38 pm:    NB mama,. there are two type of deposits, FD and Recurring Deposit Fixed is the amount you deposit for a period of time and get interest based on the term, the more term, you get more interest. Suppose you deposit 5lakhs, with current interest rate say 9.5% at the end of maturity, you will principal + interest for that period of time. Then recurring deposit, where you deposit some amount per month with some target and finally upon maturity you get principal+interest. For either cases, the interest will be tax deducted at source and rest of the amount will be given. there are some rules for the tax rate calculation. Music Review -Nag's Shiridi Sai Baba