Need help regarding deposit of funds
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Is FD a better option to invest this 5 lakhs? If yes means Post office or any bank providing better interest?
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One friend adviced me not to deposit more than 2.5 lakhs in cash. So only. Now I'm clear about cash deposit.
we assume you or someone have legal evidence of the source of funds
so there is no question of fine.. as it is all declared and you/ someone have filed tax returns too, after declaring the receipts.
Is that White or Black? 🧐
I dont even ask you white or black. Close your eyes deposit in your savings account. Any deposit beyond 10L will be reported to i.tax so your amount will not be reported if you have PAN & Aadhar atrached to your account.
I dont know your investment horizon for FD, but here are high FD interest rates with some omissions.
1. Kotak giving 7.4% for 23 months
2. BOB giving 7.25% upto 3 yrs
3. If you can lock for 5yrs can consider Nsc 7.7%
4. Post office MIS is 7.5% non cumulative with monthly interest paid
5. If you can deposit in the name of senior citizen, post office senior citizen savings account gives 8.2% paid quarterly
6. Can invest in floating rate GOI bonds that gives yield of 8.05% and paid half-yearly. Since its floating rate, the interest will be reviewed every six months(?) , but will be highest interest compared to any bank ( omitting NBFC)
7. SBM bank is giving 8.25% interest on FD if you trust, similarly shriram finance etc.
Dont be greedy and play safe with your money
Good luck
There is a financial instrument called T-Bill.
6.8% Annum for 91days.
6.9% annum for 182 days.
7.01% annum for 364 days.
You will get the interest after 1 week of buying T-Bill and the invested amount you will get after the maturity period you selected.
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Split money into 5 and deposit in 5 different accounts. Probably can avoid the deposit fee.
Is that White or Black? 🧐
All our incomes for the current year are black, they would become white when we file income tax return in 2025 and include those incomes.
I dont even ask you white or black. Close your eyes deposit in your savings account. Any deposit beyond 10L will be reported to i.tax so your amount will not be reported if you have PAN & Aadhar atrached to your account.
I dont know your investment horizon for FD, but here are high FD interest rates with some omissions.
1. Kotak giving 7.4% for 23 months
2. BOB giving 7.25% upto 3 yrs
3. If you can lock for 5yrs can consider Nsc 7.7%
4. Post office MIS is 7.5% non cumulative with monthly interest paid
5. If you can deposit in the name of senior citizen, post office senior citizen savings account gives 8.2% paid quarterly
6. Can invest in floating rate GOI bonds that gives yield of 8.05% and paid half-yearly. Since its floating rate, the interest will be reviewed every six months(?) , but will be highest interest compared to any bank ( omitting NBFC)
7. SBM bank is giving 8.25% interest on FD if you trust, similarly shriram finance etc.
Dont be greedy and play safe with your money
Good luck
Split money into 5 and deposit in 5 different accounts. Probably can avoid the deposit fee.