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Laxmi Deposit
(Cumulative Interest option)Invest a fixed amount of money for a specific period and receive excellent returns on your investment. Under this scheme interest earned at the end of every quarter is invested along with the principal helping you make the most of your money. This investment option is perfect for individuals who want a consistent income without the risks associated with market volatility.
With fixed interest rates, you can rely on a guaranteed return on investment for the entire term. The longer the term, the higher the interest rate, making it an attractive option for long-term investments.
With fixed interest rates, you can rely on a guaranteed return on investment for the entire term. The longer the term, the higher the interest rate, making it an attractive option for long-term investments.
- Secured Investment
- Best long-term investment
- Multiple-term options
- Nomination Facility
- Ascending Investment
- Quick Process
Fixed Interest Rates
This deposit offers a fixed interest rate, providing a safe and reliable investment option for earning interest on your savings without any risk to your capital. This fixed interest rate ensures a guaranteed rate of return on your deposit.
Cumulative Interest
This investment scheme allows you to earn interest on your principal amount every quarter, with the interest being reinvested along with the principal. By reinvesting the interest earned, you can potentially earn even more returns on your investment. This scheme is particularly useful for those who do not require regular interest payouts and are willing to reinvest their earnings to grow their wealth over time.
This deposit scheme is open to a variety of investors, including individuals who wish to invest either singly or jointly, minors who invest through a legal guardian, and organizations and cooperative societies seeking an investment opportunity.
Withdrawal of interest from the deposit will be considered as a partial withdrawal, which may attract certain charges and affect the overall returns on the investment. It is advisable to continue the investment until maturity to maximize the benefits of the deposit scheme.
Yes, Tax Deducted at Source (TDS) is applicable on interest earned from Fixed Deposits. To avoid TDS, individuals can submit Form 15G/15H declaring that their total income is below the taxable limit. Form 15G is for individuals below 60 years of age, while Form 15H is for senior citizens. These forms need to be submitted at the time of opening the Fixed Deposit and at the start of each financial year if the deposit is still active. This will help in avoiding TDS on interest earned from term deposits.
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