hello sir...aapne bola 10 hazar per year ke interest ke upr TDS katega.But banks bolte hai 30 hazar ke upr katega aur wo bhi tb jb hmm taxable income rkhte hai. Please do clarify. And what is all whether FD?
@@tushar1139 atleast I'm more genuine than you who posts clips of a few mins of TV shows on YT and using the title as if u have posted full episode, that too for petty 2-4 views
A few more things that I can add: 1. If you want early interest income from FD, go for Quarterly interest payment and not monthly interest payment as the interest rate is same in Quarterly payment as the full payment at maturity (monthly is a bit less). You will just miss the compounding but that gives an opportunity to reinvest quarterly payments at higher interest rates when rate increases. 2. Don’t forget to fill form 15 G/H which helps limit the TDS deduction on the interest earned especially in case of Senior Citizen FD. Most of the banks have online facility to submit it online. 3. For NRIs, no tax deducted on NRE account FD, but no interest earned if you cancel it within a year of booking the FD. TDS is deducted on NRO account FD.
can we submit 15h form if total income is above 5 lakh for a 60+ year person? nd the total income that need to be considered is before itr deduction or after?
1. Tds now deducted on interest above 40000. 2. Instead of auto renew fd I personally let it mature into saving account and make another fd after 1-2 days, this has two benefits --- one i can change the tenure to the tenure which has highest rate at that time and second benefit is just by having big fd money in saving account for just 1-2 days i get extra saving interest on that amount so that i get more interest from bank
Hi LLA Team, I know you guys don't generally do paid promotions but if you are doing this you would have done your due diligence. I have 2 more requests from you guys: 1. Please also share after making FD what are the Terms and Conditions shown in pdf by the bank who is issuing it. Because if in future stable money closes. Bank would follow all the rules it has written there. (I want to check if all the terms mentioned by stable money is also present in Banks T&C). 2. Please also show the example of breaking any dummy FD as you have shown with making FD. This will make the whole concept clearer.
No point in opening account with stable money , to be safer check highest rates and go with the bank directly. Now a days KYC is digital it won't take much time. If you are serious with FD's then 2-4 days of hassle is nothing when you are there for 10-15 years time frame.
If you put your FD on Auto Renewal, sometimes you loose oppurtunity to compare with other banks at the time of maturity. One might loose a higher interest in another bank, if the investor fails to make due dilligence.
@@kakhil3259 when old deposit matures interest is taxed and then only it is renewed, even tax saver deposits which is locked for 5 years has the interest taxed
A tax saving FD is a type of fixed deposit in which the individual can claim a tax deduction under Section 80C of the Indian Income Tax, 1961. These deposits can be made through two types of accounts- Single holder Type Deposits and Joint holder Type Deposits.
Mr Mohd Sheeraz the main factor why the F.D.Is put on renewal is generally people don't have the patience to maintain when the f d will expire.If it is put on renewal mode then he needs not worry.sometimes many international nri invest in India For closing they will travel to India.Do this is the best option
Hi, Thanks to LLA team for made us Jagruk..one request from my side : please make a video on NPS Tier 2..we all know about NPS Tier 1..but NPS Tier 2 is a hidden gem...it gives return almost same return as Mutual Fund with a very low / negligible Expense Ratio. Please make a video on it.. it's taxation rule on contribution and withdrawal both
At 6:44, you mention that the extra amount between 6% and 8% FD is 25% . It may be correct but the representation is incomplete. A novice won't understand that it's 25%of not the principal but of the net interest they are earning. It's actually 9.8% of the principal. When we see FDs, it would be very good to represent the % with respect to the principal. That gives a much better picture.
I would rather advice against auto-renewals as the renewals will take effect with the new interest rates in which case the newer rates could be much lower(4-6%) than what you have now(~9%). This will also give more control over your money, for example you can choose to invest in another asset class which can give you better ROI.
This video is nostalgic for me since your previous 'Types of FD' video was the first video I watched on this channel. And I've been a regular viewer since then.
One thing I bring to notice for everyone is you have to do video kyc even you are booking for 1000 Rs FD also. It's not optional, it is mandatory for all
You have given really in-depth knowledge of FD and it's calculation and it's safety and preferences of banks etc... Really great 👍 .... In next post pls inform people about form 15g for normal citizen and 15h for senior citizen which helps you to save tax on tds ... Now yearly interest if 40,000 rs and above then will attract tds 10% but if you fill itr and form 15g/h it will waive off the 10% tds from your interest and this hold true till the interest yearly reaches 1,50,000 ...from this amount onwards despite filling 15g/h it will have 10% tds and also incase last 2yrs itr not filed then directly double tax deducted i.e. instead of 10% bank deducts 20% tds ... Kindly let us know if there is any workaround to save tds
can we submit 15h form if total income is above 5 lakh for a 60+ year person? nd the total income u r talking about is before itr deduction or after? @@Dagarsahil
Video quality is very good. Editing has moved up several notch. Small input " Principal refers to the amount of money that is borrowed or invested, while principle refers to the fundamental rules or guidelines that govern financial transactions.'
I was thinking of LLA yesterday that it has been more than 6 months and no video is being recommended of LLA in this duration. I thought this channel has been suspended and now, today I got 5 LLA videos recommendations while I didn't even search manually anything.
Very good content! Probably we can have one more video on invoice discounting. Last video on this was 2 years back and a lot have changed after that. Would be good to have an extensive video again with all risks analyzed. And as always, keep up the good work!
I am a banker and I am confirming that for senior citizens tds limit is 50000 and for normal it's 40000. If you get more than this in a financial year then 10% tds will be deducted.
10000 for savings interest, 40000 for fd interest, 50000 for senior citizen fd. Tds deduction is crazy even bank employees can't figure out how it's deducted during compounding , try going to bank and asking them for a detailed explanation of how it's compounded with tds in between
RJ and team thanking you, team is doing wonderful job public awareness about different topics. Actually bankers duty to do this Explainable video. They are not bothered they confuse us Or some time we are not able understand there terms. But some managers misguide to fulfill their target's
Thank you so much for the Video. Can you please help answer the following queries. 1. How to know which bank is a Scheduled Commercial Bank, in your example you said Utkarsh bank is a scheduled commerical bank. Does all Small Finance banks come under Scheduled Commercial Bank. How as a layman I can differentiate? 2. Stable money app which you suggested, does it take tax or fee for doing FD through this app? 3. At anytime if we want to close/break FD before the tenure, can we do that through Stable money app?
Hi, to answer your questions: 1. Yes, not all small finance banks are scheduled commercial banks but all the banks listed on Stable money currently are scheduled commercial banks. 2. Stable Money doesn't take any tax/fee for doing FD through the app. 3. Yes, you can close/break FD anytime before tenure on the app.
I knew only the full form of FD - Fixed Deposit and offers negligibly higher intrest rate than savings account. After seeing the FD rate of Utkarsh SFB I shocked 😮. After getting this level details , I am feeling satisfaction 😇
Hey team LLA,SM is a good app but it doesn't have support to directly book FD in most of the known banks such as SBI,ICICI,HDFC it only supports Utkarsh Small finance bank and some NBFC'S,I know they'll surely expand their bank support in future but atleast 2-3 known banks should have been present there at the start, atleast we hold that expectation
@@raunitsrivastava8932 ya app is awesome to compare interest rates for now, axis digital fd is already available in the freecharge app so I think it will be added here too very soon,though it will be interesting to see how they'll convence SBI,HDFC & others banks which provide FD services only while holding an account to provide these on the SM app
This has been very very informative, as always you guys are a life saver , I got a medical insurance from policy bazar thanks to the salient features highlighted by mm Mandeep as how medical expense we can be a wealth destroyer ….
Your given examples are true when the rate of interest is the same but compounding frequency is different. But practically rate of interest will decrease when the frequency of compounding increases as result maturity amount will remain more less remains the same.
For premature penalty, you said there will be no premature penalty charge. but the app FAQ section under payments and withdrawal they have mentioned this. "As part of premature withdrawal, interest rate will be applicable for the tenure for which the FD was maintained. In addition to this there also will be a penalty rate applicable.
RJ Sir, can you please make a detailed video on “How an unmarried child (who is fresher) can plan his/her non-earning senior citizen parent’s expenses along with his personal investment(s)”? Because now a days I can observe majority of the children unintentionally (rather in pressure) left behind their parents or start leaving alone after marriage & then parents have to work, struggle in their old age for their daily basis needs…
TDS on FD interest will be applicable if interest income in a F.Y. from all FDs in a Bank exceeds ₹40K for *non-senior* citizens (and >₹50K for senior citizens).
13:00 Threshold for TDS on FD interest has been increased to 40,000 (for Senior Citizen, it's 50,000) from this FY. [I have tried to attach the link, but the comment got deleted😅😅]
One correction in video :- Earlier TDS was deducted if Interest earning per financial year was more than Rs 10000 but now the limit has increased to Rs 40000
My age is 21 and I’m still pursuing education. My dad opened FD of 7 lakh [ 4&3 lakh ] in total in my account at 7% interest for duration of 14 months. Will bank deduct tds from my interest earnings?
@@kaustubhpatil5836 It depends on maturity date. See if in a FY ( Financial Year, i.e. April 2023- March 2024), your total interest > 40K, then the bank will cut TDS from the interest. PS: To avoid it you have to fill form 15G.
@@baymax_007 bro can you tell me how banks count the tds.. for example if total interest in a financial year is 50,000 then the bank will count tds on 50,000 or interest earned over 40,000 which is 10,000 (50,000-40,000)?
@@sisodiyarahul2300 Bank count TDS over 40K, like even if your interest in a FY is 40,001 then also you will be eligible for 10% TDS i.e. 4000.1 Rs. Hope that Helps 😄
I have heard about a concept in which the person who has opened FD few months back i.e like getting FD rate around 5-6% can now upgrade /switch to higher FD rates 7-9% in same bank without closing the old FD . Please make video on this @ team LLA
One of my friend is the manager of a rural Bank in gurugram, he told me "Penalty nahi lagti ..same amount Jo Aaj ki date me hai ..present rate se ho jaega.. Conditions: 1.Whole amount hoga partial nahi 2. Nayi wali ki maturity purani fd se jyada honi chahiye "
Hi team, commented so many times regarding the subtitles. Its really frustrating for non Hindi speakers like us. We really believe your content quality. So please do the needful
Please let me know about PPF account interest compounding frequency. And as per the last 4 years trend current PPF interest rates decreased upto 7.1% so should I still invest in PPF instead of any recurring FD for long term secure investment. Please let me know.
Nice video Sir, if you could make a video on FD Laddering (how to divide the corpus based on interest rate and maturity for max return). Many or most of us just choose the highest interest with the entire corpus which I suppose is incorrect.
Hi Rishabh Ji, can please make a video on comparison between normal FD and if I payout FD interest monthly and book a RD of the interest amount. Which one will earn more????
1) Can we select the cumulative FD frequency in any scheduled bank at any time? Or we have to give it at inception only? 2) Also can the frequency be changed after creating a FD in a co-operative bank?
Rishab sir, the way you reviewed this utkarsh bank and their fd component is so good. Can you please review and explain about investing in mld schemes provided by Incred financial services? This financial institution is offering minimum returns of 14% and maximum returns till 30% and they are giving guarantee that 100% of the principal amount will be protected. Please review about this scheme
#Bonus Tip 3 : On auto renewal of FD , interest rate will be same as the previous FD or it will be decided on the ongoing rates on the day of auto renewal??
As always you & Team LLA did amazing job and you explained it very well... but do you think FD is good for small amount investors Or for short period investors?? And what if I suddenly wanna increase the principle amount ?? Is that possible??
Hello sir, i really like your knowledgeable and easy to understand videos. Can you please make a video on personal finance for a new corporate person. For better budgeting please
Hi Sir, Thanks for sharing such an important information. I tried to book FD, but while booking, it will not give information like pre-closer penalty, cumulative-non cumulative interest option.Even maximum amount to book FD is showing as Rs 1,80,000.
I HAVE A QUES SIR..What if the Stable Money app gets stopped ? What if something happens to the app in future ? Since this app is the link between customer and bank, so will it affect the customers ?
Hi, Stable money is just a mediator between the user and the bank. No money deposited by the user stays with the platform; its directly transferred to the bank. So your money will always be safe with the bank. Hope this helps in clarifying some of your fears regarding the app.
i like how your data plays and imp. role to clear facts and figurs , but as a analyst by profession, i worked on similar date for B2B and it can be done with data visualization. some graphs can make it more visually good . Hope my comment will make videos more catchy.
Hi Sir, I have a query which I have been wanting to ask you for quite some time now. The Govt in a way force us to keep the money in the bank or in the market investment and not as cash at our home. This means if I start creating 1Lac FD each month in a well-established bank like SBI or BOB, then why does the govt provide security to only 5 Lac of our money? Is the Govt or the bank not liable to return us the entire money and its interest whenever we want. If the Bank or Govt is not capable of giving us the guarantee of this return, then why are we being forced for this?
Bright sahab Cash agar rakho ge to Inflation se kam hi hoga, better keep gold. Or public 1 ,2 cr to rakhti bhi hai, kon raid maar raha hai. 2nd insurance 5 lakh se upar isliye nahi de sakte kyonki that is not feasible, or agar safet chahiye to post officeme fd karva lo. KVP or NSC karo, 100% secured by RBI
@@Dagarsahil I raised the point not about inflation, basically Govt enforces that we do not keep much cash in hand and that the money gets rolled in to the market, Yet the important fact is that, the Govt only secures 5Lac of our money per bank. What if i have only 1 bank and i want to keep say 10Lac.? Govt and the bank should be responsible to return back all the money to its customer.
@@hnbright You can open a saving account in India Post (not with IPPB). That is 100% guaranteed. For SCB technically it is 5L but with any systematically important bank like HDFC, ICICI, SBI it is practically unlimited. As govt will not let any of these bank fail. Even PMC bank which was failed in Maharashtra was saved and people were given full refund of their money but yes with some delay. Money kept with bank doesnt go in Stock market at all. Either kept as cash, or G sec or loaned out. But directly not deployed in stock market. Yes some rules prohibits keeping large amount of cash but if you can prove legitimate origin you can still get no trouble. Why inflation ( actually it makes you keep money in bank) it is creative destruction of wealth, other wise whose Granpaa was super rich will continue to be rich if money is not made to utilised.
Informative video thank you so much for always uplifting the knowledge of jagruk janta thanks for taking so much effort for us. Much much appreciation for the video editor top notch video quality kudos to the video editor and for the host keep up the best work
Flexi Deposit is the worst, you’ll end up getting even less return than a savings bank with premature withdrawal penalty and paying more tax as FD return is taxable.
Very informative video , few more things to be noted - tax or tds deduction frequency by bank & its effect on compounding - interest rate doesnt increse with tenure , it increases max by 2 or 3 years and then drops down as it nears 10 years so time taken to double will be for low interest not max of the bank
It's my request to LLA team to please upload a dedicated in detail video including pros & cons of Corporate FDs & also video NBFC FDs🙏 No other TH-cam channel has this two videos your channel has this opportunity so please do it for jagruk janta 🙏
Thanks for this video. Its very informative. Actually I want to open small FD for short duration and confused between Ujjivan SFB and Utkarsh SFB. Please suggest asap. Thanks
Kindly make a video on how to start SIP in mutual as beginners. In early years of job As in 25 yrs of age so that we can have a good investment over a period of time
Rd is done by those who don't have large money but save it every month. Mostly the interest rates are same but FD has benefit of compounding as the principal amount is big
Compare & Book FD in 3 mins : sm.lla.in
Rs. 250 instant Cashback on your first FD (For first 500 sign-ups using LLA link)
hello sir...aapne bola 10 hazar per year ke interest ke upr TDS katega.But banks bolte hai 30 hazar ke upr katega aur wo bhi tb jb hmm taxable income rkhte hai.
Please do clarify. And what is all whether FD?
What about Linked fd
Mera CA bola ki 40 thousand ke upar agar ek financial year me intrest earn krte ho to TDS ktega
All weather investment is better than FD.
Got my 250 ! Yippee ! Chalo ab mobile bill bharta hun!
Editor deserves a raise. Man that's some high quality video editing.
Editor ki fake ID 🗿
@@tushar1139 atleast I'm more genuine than you who posts clips of a few mins of TV shows on YT and using the title as if u have posted full episode, that too for petty 2-4 views
indeed a good edit but found a black screen at 3:49, abrupt brightness cut at 0:09, frame imbalance at 3:55 (should have shifted RJ to right half )
Yeah.Endorse this with an exception that Principal is always to be spelled as Principal and not Principle.
Editor apni real ID se aa 😊
I'm 20 years old girl from Bihar. getting financial knowledge by your channel make me more mature and knowledgeable in finance.
Thank you 😊.
IAS ki prep nhi krri tum ?
A few more things that I can add:
1. If you want early interest income from FD, go for Quarterly interest payment and not monthly interest payment as the interest rate is same in Quarterly payment as the full payment at maturity (monthly is a bit less). You will just miss the compounding but that gives an opportunity to reinvest quarterly payments at higher interest rates when rate increases.
2. Don’t forget to fill form 15 G/H which helps limit the TDS deduction on the interest earned especially in case of Senior Citizen FD. Most of the banks have online facility to submit it online.
3. For NRIs, no tax deducted on NRE account FD, but no interest earned if you cancel it within a year of booking the FD. TDS is deducted on NRO account FD.
Didn't know about point no. 3. Thanks a ton
can we submit 15h form if total income is above 5 lakh for a 60+ year person? nd the total income that need to be considered is before itr deduction or after?
IF NRE FD is booked and he becomes domestic resident, will the FD be converted or be cancelled ?
@@MegaNerevar It will probably depend on the bank. HDFC and ICICI do allow FDs conversion to resident without any impact on the payout/interest rates.
@@MegaNerevarghanta kuch nay hota
1. Tds now deducted on interest above 40000.
2. Instead of auto renew fd I personally let it mature into saving account and make another fd after 1-2 days, this has two benefits --- one i can change the tenure to the tenure which has highest rate at that time and second benefit is just by having big fd money in saving account for just 1-2 days i get extra saving interest on that amount so that i get more interest from bank
But if u dont let it auto renew..the new laws say u can only do 10 lacs max in new FD creation..not on auto renew.
Hi LLA Team, I know you guys don't generally do paid promotions but if you are doing this you would have done your due diligence.
I have 2 more requests from you guys:
1. Please also share after making FD what are the Terms and Conditions shown in pdf by the bank who is issuing it. Because if in future stable money closes. Bank would follow all the rules it has written there. (I want to check if all the terms mentioned by stable money is also present in Banks T&C).
2. Please also show the example of breaking any dummy FD as you have shown with making FD. This will make the whole concept clearer.
Llll
Hope this venture is not another scam like Geetanjali jewellers or Byjus or any random Bengaluru start-ups, selling fast money schemes.
True, just for a meagre Cash Back of Rs. 250/- why risk our Principal Amount.
@@loveforfinance5291Like Vauld everyone was promoting
No point in opening account with stable money , to be safer check highest rates and go with the bank directly. Now a days KYC is digital it won't take much time.
If you are serious with FD's then 2-4 days of hassle is nothing when you are there for 10-15 years time frame.
If you put your FD on Auto Renewal, sometimes you loose oppurtunity to compare with other banks at the time of maturity. One might loose a higher interest in another bank, if the investor fails to make due dilligence.
One can easily cancel the auto booked fd and no penalties need to be paid if done within 2 weeks renewal
What happens to the interest on auto renewal will it get taxed?
@@kakhil3259 when old deposit matures interest is taxed and then only it is renewed, even tax saver deposits which is locked for 5 years has the interest taxed
A tax saving FD is a type of fixed deposit in which the individual can claim a tax deduction under Section 80C of the Indian Income Tax, 1961. These deposits can be made through two types of accounts- Single holder Type Deposits and Joint holder Type Deposits.
Mr Mohd Sheeraz the main factor why the F.D.Is put on renewal is generally people don't have the patience to maintain when the f d will expire.If it is put on renewal mode then he needs not worry.sometimes many international nri invest in India For closing they will travel to India.Do this is the best option
Right video for me. At the right time. Just today my previous Fd got matured and was thinking in which bank to again reinvest. Thank u Lla❤
Dear sir I have done more than hundred days in my life in last 5 years but still I get to learn a lot from your video
*100 fds(typo error)
Hi, Thanks to LLA team for made us Jagruk..one request from my side : please make a video on NPS Tier 2..we all know about NPS Tier 1..but NPS Tier 2 is a hidden gem...it gives return almost same return as Mutual Fund with a very low / negligible Expense Ratio. Please make a video on it.. it's taxation rule on contribution and withdrawal both
NPS is total waste of money.
Yes I am invested both.
NPS Tier2 taxation is not clear .......so video for same is needed...
@@maharshipandya7301why?
@@rishabhsangar9978nps tier 2 taxation should be like hybrid mutual fund..cz that's what nps tier 2 is
I also booked on Stable Money and it just took 5 mins for first time and now its just simple as making an upi payment. Kudos to Stable Money team!!
What is the redemption process after maturity?
@@biplabpaul3822he also doesn't know 😅😅.. Paisa to gayo lla ke chakkar mein
Now every bank has made their online fd process easy through their mobile application. That too in less than 5mins.
It was quick, the FD booking and 250 reward processing 💯. Thank you LLA😄
But as per my research equitas is giving better FD interest for 444 days.
How much?
What was FD amount
8.5
Pure Video Ko Dekhne Ke Badd Mere Pass Koi Doubt Bccha Hi Nhi Hai..
Thanks LLA👍👍
At 6:44, you mention that the extra amount between 6% and 8% FD is 25% . It may be correct but the representation is incomplete. A novice won't understand that it's 25%of not the principal but of the net interest they are earning. It's actually 9.8% of the principal. When we see FDs, it would be very good to represent the % with respect to the principal. That gives a much better picture.
Tbh there were so many sentences which just flew off my head. 🤥
Sir mujhe itni english to nhi aati
Please aap isse hindi me explain kar sakte he
@@cleverkamina3090Bhai iska screenshot le ke Google lens se translate kar le Hindi ya kisi aur bhasha me.
I would rather advice against auto-renewals as the renewals will take effect with the new interest rates in which case the newer rates could be much lower(4-6%) than what you have now(~9%). This will also give more control over your money, for example you can choose to invest in another asset class which can give you better ROI.
This video is nostalgic for me since your previous 'Types of FD' video was the first video I watched on this channel. And I've been a regular viewer since then.
One thing I bring to notice for everyone is you have to do video kyc even you are booking for 1000 Rs FD also. It's not optional, it is mandatory for all
Wow this quality and point to point information, even who don't know a single thing on these topics can easily understand 👏👏👏👏👏
You have given really in-depth knowledge of FD and it's calculation and it's safety and preferences of banks etc... Really great 👍 .... In next post pls inform people about form 15g for normal citizen and 15h for senior citizen which helps you to save tax on tds ... Now yearly interest if 40,000 rs and above then will attract tds 10% but if you fill itr and form 15g/h it will waive off the 10% tds from your interest and this hold true till the interest yearly reaches 1,50,000 ...from this amount onwards despite filling 15g/h it will have 10% tds and also incase last 2yrs itr not filed then directly double tax deducted i.e. instead of 10% bank deducts 20% tds ... Kindly let us know if there is any workaround to save tds
Bhai ye 150000 ka figure kahaan se aaya, ki usse upar tds deduct hoga even after 15g/h, kindly advise if u know
Ye figure 2.5L hai, for above 60 ye 3L hai or above 80 ye 5L hai. 1.5L kahin nahi hai
can we submit 15h form if total income is above 5 lakh for a 60+ year person? nd the total income u r talking about is before itr deduction or after? @@Dagarsahil
Video quality is very good. Editing has moved up several notch. Small input " Principal refers to the amount of money that is borrowed or invested, while principle refers to the fundamental rules or guidelines that govern financial transactions.'
I was thinking of LLA yesterday that it has been more than 6 months and no video is being recommended of LLA in this duration. I thought this channel has been suspended and now, today I got 5 LLA videos recommendations while I didn't even search manually anything.
Very good content!
Probably we can have one more video on invoice discounting. Last video on this was 2 years back and a lot have changed after that. Would be good to have an extensive video again with all risks analyzed.
And as always, keep up the good work!
Bro can our maney safe if we do fd by nbfc if bank get closed
I have also booked the fd on stable money it was amazing to see the interest rates and it was really smooth to book the fd just by upi.
The tds limit is rs 40000 , 10000 is older limit 12:44
that's what I was thinking
May be he is talking about single FD transaction
@@abhishekn2474can you please elaborate?
I am a banker and I am confirming that for senior citizens tds limit is 50000 and for normal it's 40000. If you get more than this in a financial year then 10% tds will be deducted.
10000 for savings interest, 40000 for fd interest, 50000 for senior citizen fd. Tds deduction is crazy even bank employees can't figure out how it's deducted during compounding , try going to bank and asking them for a detailed explanation of how it's compounded with tds in between
RJ and team thanking you, team is doing wonderful job public awareness about different topics. Actually bankers duty to do this Explainable video. They are not bothered they confuse us Or some time we are not able understand there terms. But some managers misguide to fulfill their target's
Informative,great explanation,time worthy, trust worthy ❤
Want more long form videos from our favourite channel ❤
Excellent bro. Thanks for creating this video on very Important topic for middle class Indians !!
Thank you so much for the Video. Can you please help answer the following queries.
1. How to know which bank is a Scheduled Commercial Bank, in your example you said Utkarsh bank is a scheduled commerical bank. Does all Small Finance banks come under Scheduled Commercial Bank. How as a layman I can differentiate?
2. Stable money app which you suggested, does it take tax or fee for doing FD through this app?
3. At anytime if we want to close/break FD before the tenure, can we do that through Stable money app?
Hi, to answer your questions:
1. Yes, not all small finance banks are scheduled commercial banks but all the banks listed on Stable money currently are scheduled commercial banks.
2. Stable Money doesn't take any tax/fee for doing FD through the app.
3. Yes, you can close/break FD anytime before tenure on the app.
I knew only the full form of FD - Fixed Deposit and offers negligibly higher intrest rate than savings account.
After seeing the FD rate of Utkarsh SFB I shocked 😮. After getting this level details , I am feeling satisfaction 😇
Hey team LLA,SM is a good app but it doesn't have support to directly book FD in most of the known banks such as SBI,ICICI,HDFC it only supports Utkarsh Small finance bank and some NBFC'S,I know they'll surely expand their bank support in future but atleast 2-3 known banks should have been present there at the start, atleast we hold that expectation
I think they are coming up with more banks like Axis,Shivalik in the future. The experience on SM was seamless for me!
You are right bro.
@@raunitsrivastava8932 ya app is awesome to compare interest rates for now, axis digital fd is already available in the freecharge app so I think it will be added here too very soon,though it will be interesting to see how they'll convence SBI,HDFC & others banks which provide FD services only while holding an account to provide these on the SM app
Lol tabhi utkarsh me book ki isne video me ...ye bik gye hai LLA WALE
@@Jasjeetsingh133??
This has been very very informative, as always you guys are a life saver , I got a medical insurance from policy bazar thanks to the salient features highlighted by mm Mandeep as how medical expense we can be a wealth destroyer ….
Your given examples are true when the rate of interest is the same but compounding frequency is different. But practically rate of interest will decrease when the frequency of compounding increases as result maturity amount will remain more less remains the same.
I was very skeptical about this app but now LLA endorsing it I know I can trust it.
For premature penalty, you said there will be no premature penalty charge. but the app FAQ section under payments and withdrawal they have mentioned this. "As part of premature withdrawal, interest rate will be applicable for the tenure for which the FD was maintained. In addition to this there also will be a penalty rate applicable.
😂
Thanks!
RJ Sir, can you please make a detailed video on “How an unmarried child (who is fresher) can plan his/her non-earning senior citizen parent’s expenses along with his personal investment(s)”?
Because now a days I can observe majority of the children unintentionally (rather in pressure) left behind their parents or start leaving alone after marriage & then parents have to work, struggle in their old age for their daily basis needs…
Most parents save for their retirement
What if income was too low to save or all income was spent on children's welfare and other essentials.
Why did they get married 😂😂😂😂
just loved to video quality. (talking about effects, visual etc. resolution is as best as ever) 💖💖💖
TDS on FD interest will be applicable if interest income in a F.Y. from all FDs in a Bank exceeds ₹40K for *non-senior* citizens (and >₹50K for senior citizens).
10,000 hota hai, 40 ni
Bhai 40k hai Bhai sbi meh
@@SaurabhKumar-vj5wiyearly merko 35k interest athi hai, but no tds
Please refer Sec 194A of Income Tax Act, Threshold limit is 40k for Non Senior citizens@@SaurabhKumar-vj5wi
@@SaurabhKumar-vj5wi ₹10k ki limit Budget-2019 se pehle thi, abhi ₹40k hai.
Mja aya kuch nya sikh kar.............aise videos laate rahiye...with good frequency👌👌❤❤
13:00 Threshold for TDS on FD interest has been increased to 40,000 (for Senior Citizen, it's 50,000) from this FY. [I have tried to attach the link, but the comment got deleted😅😅]
xcllnt video on FD.BAHUT hi badiya jaankari of fd in detail.stable money se FD karwane ke liye stable koi deposit/withdrawal fees charge karta hai.
No, Stable Money doesn't take any tax/fee for doing FD or during withdrawal through the app.
One correction in video :-
Earlier TDS was deducted if Interest earning per financial year was more than Rs 10000 but now the limit has increased to Rs 40000
Yes.. I thought maybe he would correct that in hightlighted comment.
My age is 21 and I’m still pursuing education. My dad opened FD of 7 lakh [ 4&3 lakh ] in total in my account at 7% interest for duration of 14 months. Will bank deduct tds from my interest earnings?
@@kaustubhpatil5836 It depends on maturity date.
See if in a FY ( Financial Year, i.e. April 2023- March 2024), your total interest > 40K, then the bank will cut TDS from the interest.
PS: To avoid it you have to fill form 15G.
@@baymax_007 bro can you tell me how banks count the tds.. for example if total interest in a financial year is 50,000 then the bank will count tds on 50,000 or interest earned over 40,000 which is 10,000 (50,000-40,000)?
@@sisodiyarahul2300 Bank count TDS over 40K, like even if your interest in a FY is 40,001 then also you will be eligible for 10% TDS i.e. 4000.1 Rs. Hope that Helps 😄
Great video Boss... thank you... Video editor is also awesome 👍 great job
I have heard about a concept in which the person who has opened FD few months back i.e like getting FD rate around 5-6% can now upgrade /switch to higher FD rates 7-9% in same bank without closing the old FD . Please make video on this @ team LLA
really ??
How ?
One of my friend is the manager of a rural Bank in gurugram, he told me "Penalty nahi lagti ..same amount Jo Aaj ki date me hai ..present rate se ho jaega..
Conditions:
1.Whole amount hoga partial nahi
2. Nayi wali ki maturity purani fd se jyada honi chahiye "
Thanku LLA team.., your vedio always help me a lot
Please update your video with respect to facts.. as TDS is deducted only if interest earned in FY goes beyond 40K. Thanks
No boss if you are under any tax bracket, interest earned will be taxable.
@@shantanuwalekarhere am talking about TDS deducted at bank on interest earned.
@@shantanuwalekarhe is talking about tds
@@chadmas259that’s what’s I said.. and that limit is not 10k as mentioned in the video.. which is rather 50k
TDS is deducted by Banks if the Interest excees Rs. 40,000/- in the Financial Year. This Limit is Rs. 50,000/- for Senior Citizens. 🙏😊
FD master class only this video is enough for FD❤
The background is amazing 😍
AI.💀💀💀
Sabse aachi video knowledge then all TH-cam video for FD❤❤❤
Except paid promotion
Just got 250 in 2 minutes thanks LLA now my return is 25 percent
Awesome!
Kaha kare inevst🎉
Rajnigandha me😂😂
Fd ka Paisa lla ko gaya... 250 lo aish karo 😅😅😅
Withdraw kar sakte hai FD ke paise?
Hi team, commented so many times regarding the subtitles. Its really frustrating for non Hindi speakers like us. We really believe your content quality. So please do the needful
Please let me know about PPF account interest compounding frequency. And as per the last 4 years trend current PPF interest rates decreased upto 7.1% so should I still invest in PPF instead of any recurring FD for long term secure investment. Please let me know.
It was really an amazing video, I learned a lot, thank you very much. You keep providing good information to us like this.
Nice video Sir, if you could make a video on FD Laddering (how to divide the corpus based on interest rate and maturity for max return). Many or most of us just choose the highest interest with the entire corpus which I suppose is incorrect.
Instead of laddering opt for interest payout for highest interst rate while booking fd
Do XIRR calculation to take into consideration the time value of the money.
Your video quality have gone 🚀 ❤thank you for such a detailed information
Hi Rishabh Ji, can please make a video on comparison between normal FD and if I payout FD interest monthly and book a RD of the interest amount. Which one will earn more????
Such a detailed video and in such a way that any layman could easily understand that
1) Can we select the cumulative FD frequency in any scheduled bank at any time?
Or we have to give it at inception only?
2) Also can the frequency be changed after creating a FD in a co-operative bank?
I also have the same query
👏👏For the editor and content team, also rishabh sir!!
Rishab sir, the way you reviewed this utkarsh bank and their fd component is so good. Can you please review and explain about investing in mld schemes provided by Incred financial services? This financial institution is offering minimum returns of 14% and maximum returns till 30% and they are giving guarantee that 100% of the principal amount will be protected. Please review about this scheme
risky
Thanks for the great video...I have learnt a lot from this video...but one qq: where to check the NC and Cumulative options.
What a explanation....we need more videos like this..👌👌
Nice explanation sir.
But you missed one concept.
i.e, submission of form 15H/G, by which we can save TDS on FD.
#Bonus Tip 3 : On auto renewal of FD , interest rate will be same as the previous FD or it will be decided on the ongoing rates on the day of auto renewal??
Ongoing rates
Dont do that bro as u can't get chance to compare at that time
Thank you Rishabh, for creating and sharing these type of awareness content
As always you & Team LLA did amazing job and you explained it very well... but do you think FD is good for small amount investors Or for short period investors?? And what if I suddenly wanna increase the principle amount ?? Is that possible??
Hello sir, i really like your knowledgeable and easy to understand videos.
Can you please make a video on personal finance for a new corporate person. For better budgeting please
Ye 9.5 % wala to kahi diya nahi jo thumbnail me tha ? Baki sun to pata hi tha 😂😂🤣
Wahi..
Just awesome sir. Thank you for all these information
Hi Sir, Thanks for sharing such an important information. I tried to book FD, but while booking, it will not give information like pre-closer penalty, cumulative-non cumulative interest option.Even maximum amount to book FD is showing as Rs 1,80,000.
I'm loving your channel. Well made content guys. 👍Awesome work
matlab 21 din me paisa double kerna hoto 1251% interest wali scheme dhundhni hogi 🤣
1512 percent bro.
you can also get interest in Current A/C by sweep in FD, yes bank is best in this with monthly interest payout also.
I HAVE A QUES SIR..What if the Stable Money app gets stopped ? What if something happens to the app in future ? Since this app is the link between customer and bank, so will it affect the customers ?
Hi, Stable money is just a mediator between the user and the bank. No money deposited by the user stays with the platform; its directly transferred to the bank. So your money will always be safe with the bank. Hope this helps in clarifying some of your fears regarding the app.
i like how your data plays and imp. role to clear facts and figurs , but as a analyst by profession, i worked on similar date for B2B and it can be done with data visualization. some graphs can make it more visually good . Hope my comment will make videos more catchy.
Are u a data analyst?
Hi Sir, I have a query which I have been wanting to ask you for quite some time now.
The Govt in a way force us to keep the money in the bank or in the market investment and not as cash at our home. This means if I start creating 1Lac FD each month in a well-established bank like SBI or BOB, then why does the govt provide security to only 5 Lac of our money? Is the Govt or the bank not liable to return us the entire money and its interest whenever we want. If the Bank or Govt is not capable of giving us the guarantee of this return, then why are we being forced for this?
This is as per DICGC Policy. Google it.
Bright sahab Cash agar rakho ge to Inflation se kam hi hoga, better keep gold. Or public 1 ,2 cr to rakhti bhi hai, kon raid maar raha hai. 2nd insurance 5 lakh se upar isliye nahi de sakte kyonki that is not feasible, or agar safet chahiye to post officeme fd karva lo. KVP or NSC karo, 100% secured by RBI
@@Dagarsahil I raised the point not about inflation, basically Govt enforces that we do not keep much cash in hand and that the money gets rolled in to the market, Yet the important fact is that, the Govt only secures 5Lac of our money per bank. What if i have only 1 bank and i want to keep say 10Lac.? Govt and the bank should be responsible to return back all the money to its customer.
@@hnbright You can open a saving account in India Post (not with IPPB). That is 100% guaranteed. For SCB technically it is 5L but with any systematically important bank like HDFC, ICICI, SBI it is practically unlimited. As govt will not let any of these bank fail. Even PMC bank which was failed in Maharashtra was saved and people were given full refund of their money but yes with some delay.
Money kept with bank doesnt go in Stock market at all. Either kept as cash, or G sec or loaned out. But directly not deployed in stock market. Yes some rules prohibits keeping large amount of cash but if you can prove legitimate origin you can still get no trouble.
Why inflation ( actually it makes you keep money in bank) it is creative destruction of wealth, other wise whose Granpaa was super rich will continue to be rich if money is not made to utilised.
Thank you very much LLA Team for giving such a nice information about Stable money App👌👌👌
Not even 200 reviews on this app..
I am a bit skeptical.. 😮
Informative video thank you so much for always uplifting the knowledge of jagruk janta thanks for taking so much effort for us. Much much appreciation for the video editor top notch video quality kudos to the video editor and for the host keep up the best work
Flexi Deposit is the worst, you’ll end up getting even less return than a savings bank with premature withdrawal penalty and paying more tax as FD return is taxable.
Thank you so much and God bless you bhai ❤❤❤😊
Isse jayada bura paid advertisement mene nhi dekha....this is how LLA lost the creditability for 250rs ?
Exactly. I'm seeing such videos frequently from LLA now. Degrading quality
Stable money is trying everywhere. From TRS to LLA
Kiu bhai?? Cumulative fd is best investment.
Mera bhai " Tax Savings for salaied Person" course liya hu,, ekdom hi fraud he,, usme jobhi bola jarahahe o sab youtube me freely available hai...
Why- is the platform Stablemoney bad pls?
Easy to understand each point, thank you sir😊, please money grow krne ke liye or video bhi bnaiyega, bhot help milegi ,
Your videos are very nice so we get a lot of knowledge. Thank you sir 🙏
Very informative video , few more things to be noted
- tax or tds deduction frequency by bank & its effect on compounding
- interest rate doesnt increse with tenure , it increases max by 2 or 3 years and then drops down as it nears 10 years so time taken to double will be for low interest not max of the bank
Beautifully made. Very informative
Great video! This should be included in the SSC board curriculum.
Hello team, request you to make a video guiding NRI individual investment options.
Amazing Video, but one correction: at 13:00 the yearly interest if above 40,000 then TDS is applicable.
Thank very helpful as bank staff do not explain in detail😊
Thank you LLA for all your info...
Thanks for the very informative video. Request for a video on life insurance paid-up or surrender options.
It's my request to LLA team to please upload a dedicated in detail video including pros & cons of Corporate FDs & also video NBFC FDs🙏
No other TH-cam channel has this two videos your channel has this opportunity so please do it for jagruk janta 🙏
Nice and very well explained 👏 ❤
Thanks for this video. Its very informative. Actually I want to open small FD for short duration and confused between Ujjivan SFB and Utkarsh SFB. Please suggest asap. Thanks
Thank you for the video. Very informative.
Kindly make a video on how to start SIP in mutual as beginners.
In early years of job
As in 25 yrs of age so that we can have a good investment over a period of time
Saab kuch sahi hai.. par ye FD ke interest pe tax woh bhi as per tax slab.. yahi baat chubti hai. Thank you for such informative content.
FD and RD mein se what is beneficial in the short-term and the long-term? Btw thanks for telling about the FD basics.
Rd is done by those who don't have large money but save it every month. Mostly the interest rates are same but FD has benefit of compounding as the principal amount is big
Sir please make a video on key entered transaction and rules of it in contrast to rbi it will be very helpful to us🙏