Category Archives: Recurring Deposits

Thinking About Breaking Your Recurring Deposit?

Recurring Deposits are popular short-term deposits which help people save some money on a monthly basis. It’s a good savings option for people with lower incomes and for those who have just stared working as it helps them build their finances in a planned manner. But what happens when you close a Recurring Deposit before its actual maturity date?

Recurring Deposits and TDS

As per the Union Budget 2015, all term deposits will be subject to a tax deduction at source (TDS) of 10% on the interest amount, if it’s more than Rs. 10, 000. Read on to know more about the whole deduction process.