Other FAQs
Is it safe to open FD with Apnapaisa?
Yes it is safe to open an FD with us. We make sure that you have a smooth process..Know More
Do I need to be over 18 years to open a Savings Account?
Yes. In case of a minor, the parents or legal guardian can open an account on their behalf…Know More
Is Savings Account interest taxable?
Up to Rs.10,000 earned as interest on your Savings Account balance is tax free under Section 80TTA. Amounts higher than that are subject to TDS…Know More
Are there any charges to issue a passbook?
No. Under BSBDA, the passbook is issued free of cost..Know More
Who can invest in a Fixed Deposit?
Anyone can. From resident individuals to private and public limited companies, from Hindu Undivided Families (HUF) to partnership firms. There’s no income/employment criteria and the applica…Know More
What is the minimum lock-in period for a tax-saving fixed deposit?
5 years. A tax-saving fixed deposit can be claimed as tax deduction under section 80C of the Income Tax Act, 1961…Know More
Is it compulsory to submit my PAN number while applying for an FD?
Yes. However, individuals who don’t have a PAN Card can apply for a FD by submitting a Form 60/61…Know More
What is the tax deductible on interest income on Fixed Deposits?
A TDS of 10% is levied on the interest income on FDs, if the interest earned is more than Rs. 40,000 for individuals and Rs. 50,000 for senior citizens. Companies will be taxed the same for…Know More
Are senior citizens offered special benefits under FD schemes?
Senior citizens get a higher rate of interest…Know More