• Vipul Das
• 11 Mar, 2021

A fixed deposit (FD) is a financial asset offered by banks or non-banking financial companies (NBFCs) that includes the deposit of a lump sum amount for a set period of time at a specified interest rate. If opposed to a savings account, FDs pay a higher rate of interest and are entirely taxable. It will be added to your gross income and taxed at the slab rates that relate to your total income.
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