Conveniently pay your EMIs, set payment reminders, view your loan details.
by Mahindra Finance
February 29, 2024
|1 mins read
Yes, as per the Indian Tax Laws defined under the Indian Income Tax Act, 1969, the interest returns you earn from Rs. 20 Lakh FD is taxable. The interest is subject to 10% TDS, and the financial organisation where you hold the FD account will deduct the tax amount before crediting the interest amount to your account.
However, the TDS is applicable only if the interest earned from your FD is more than Rs. 40,000 in a financial year. For senior citizens, the limit is Rs. 50,000.
Fixed deposits (FDs) are a popular investment option in India due to their security and attractive returns. However, there may be instances where you need to break your FD before its maturity date. In...
February 29, 2024
Depositing additional funds are always welcomed by any bank, but, you as a customer are always muddled whether to store it in a Savings Account or a Fixed Deposit (FD) account. A head-on comparison be...
June 29, 2023
In today’s fast-paced world, financial stability is essential for individuals and communities. For those living in rural and semi-urban areas of India, access to reliable investment options that...
February 23, 2024
Your form has been submitted successfully.
Quick Pay 
Apply Now 
Reach Us