regarding fixed deposit (monthly payout)

This forum is dedicated for guiding citizens that are facing legal issues.   Guidance in the investment of money is beyond the ambit of this forum.

1.Please prefer the post office if you are a senior citizen, as they are offering a higher rate of Interest in India.  There is a ceiling of Rs.5 lakhs in individual name and Rs.10 lakhs in joint names.

2.If you are nearing 50 years you can contact LIC of India as they have introduced a new scheme for pension/lumpsum on payment of single/multiple installments of premium.

3.If you wish to invest in Public sector banks, do not invest in one bank and make a deposit of a maximum Rs.5 lakh in each bank to get insurance for that amount if the bank fails.

4.Trust a good mutual fund after consulting your friends/relatives and invest a certain amount in most reputed companies only.

5.Wherever you deposit, insist for nomination and invariably nominate and prefer those banks that are offering group insurance for depositors.

The posting suggests no legal elements

Has any one stopped you to have monthly / quarterly / annual fixed deposit or do you have any legal problem for consideration and obligation ?

Fixed deposit allows you to deposit a certain amount of money in lump sum. You stand eligible to get returns on the deposited amount. Financial firms provide interests which are your returns on the investment. You can choose to receive the interests in four ways. There are options to opt for monthly, quarterly, semi-annually or annual basis. If you chose a monthly basis and are struggling to calculate the interests, then use a fd calculator. It is a simple online tool offered by several reputed firms. Shriram City Union Finance hosts one on its website too. Simply enter the amount, interest rate and tenure to get the results in seconds.