Ask your Question
   (100 characters left)
Search for questions:      Advanced
Credit Cards
Car Loans
Home Loans
Personal Loan
Education Loans
Fixed Deposits
Savings Accounts
Miscellaneous
Bank ATM Auto Loan Bad credit Loan Recovery Recovery Agents Indian Bank Canara Bank Corporation Bank Loan Calculator credit card fraud HSBC Bank Vijaya Bank Deutsche Bank Credit history Credit score Used car loan Saving Account Fixed Deposit Loan Finance ICICI Bank RBI SBI Disha HDFC ABN Amro CitiBank EMI Calculator Kotak PNB Barclays Home Loan Personal Loan Credit Card Interest rate
Resolved Question:
Show me another
For regular monthly income MIS or long term FD which is better?
I want to invest some money(7lakhs) so that i can get a regular income out of that...so is it better for me to choose post office MIS(which gives 8% interest for a period of 6years) or any long term FD(south indian bank gives 8%interest of 5years FD but i dont know whether i can get that interest amount monthly or quaterly or wil it be given only at the end of five years plz clarify me)...or is there any other plans which can give me more interest than these schemes and gives me some tips to save the interest from TDS??
In Fixed Deposits  -  Asked by Shaju -  4 years ago

Best Answer:
If you invest in South Indian bank fixed deposit then you can avail monthly interest at discounted rate or you can withdraw interest periodically or transferred to other accounts as per instructions.
In post office monthly income scheme your monthly interest will be credited automatically to saving account if accounts are at the same post office. Interest income is taxable, but no TDS Rebate under section 80 C not admissible.
But in fixed deposit you get tax benefit if your interest is less than Rs 10000/-. You can fill form 15G to save TDS.
4 years ago - By Avi

Other Answers (1)
Answer 1.
Both the schemes are equally good in fixed deposit the interest keep changing when bank increases or reduces the interest rate. But you cannot withdraw in between the tenure otherwise bank charge penalty. In post office MIS there is a facility of premature closure of account after one year @ 3.50% discount, if account is closed on completion of three years no deduction of 3.5%.
4 years ago - By Arun
Answer: Open Questions RSS
divorce problem solution bengali babaji +91-9636529917
Vashikaran Baba ji in usa 9166736058
CaLL -91+[9971=soo498 =EsCoRt GirL SeRviCe- [Noida Sec-56]-EsCoRt SeRvIcE In FiVe StAr HoTeL GurGaOn
KATRAJ~ESCORTS 09860259474 ~••~ 0968910188 Katraj Caℓℓ Girℓs In Balaji Nagar ℂall Giℝls
BLACK MAGIC ((+918769001888)) SPECIAlist in Chhattarpur
View All
Discover: Resolved Questions RSS
%ChAnDiGaRh escorts services O9855660911CaℒL Giℛℒ PaNcHkUlA ~Call gIℛℒ In MoHaLi Call giℛℒS sEℛvice
!!ChAnDiGaRh !!escort service O9855660911CaℒL Giℛℒ PaNcHkUlA ~Call gIℛℒ In MoHaLi Call giℛℒS sEℛvice
PAANJLA@ escort service O9855660911 CaℒL GiℛℒS In ChAnDiGaℛh ~Call gIℛℒ In Zirakpur Call giℛℒS
Mohali escorts services O9855660911CaℒL GiℛℒS In ChAnDiGaℛh ~Call gIℛℒ sEℛvice In PancHkUℒA
CHANDigarh~ escort service O9855660911 CaℒL Giℛℒ Rajpura~Call gIℛℒ In ℰscℴℛt Call ℊiℛls Patiala
View All
Vote: Undecided Questions RSS
Mohali escorts services O9855660911 CaℒL GiℛℒS In ChAnDiGaℛh ~Call gIℛℒ In PancHkUℒA Call giℛℒS sEℛ
View All
COMPARE RATES
Get best FD rates
Best FD rates by banks
Compare Car Loan Rates for a used car
Get best bank for Home Loan
Show All...
COMPARE QUICKLY
 Select a product:
 

CALCULATORS
Fixed Deposit Interest Income Calculator
Credit Card Balance Transfer Savings Calculator
Car Loan Amount by EMI Calculator
Car Loan Amount by Down Payment Calculator
More Calculators...
CALCULATE QUICKLY
 Select a product:
 

NEWS THIS WEEK
Vijaya Bank slashed down the interest rates on several maturities Jan 23, 2015
OBC bank reduced rates on various fixed deposit maturities Jan 20, 2015
RBI reduced Repo rate by 0.25% Jan 15, 2015
New product rolled out by KVG bank Jan 14, 2015
Banks introduced foreclosure penalties Jan 12, 2015
News Archive
EDITORS' PICKS
The recent interest rate hike
Carnival of Indian Personal Finance Blogs #4
Should you preclose your current FD for...
Fixed deposits in India: Benefits,...
Gold ETFs or Gold Funds: Which One Should...