However, few banks (e.g icici) do offer fixed what do guys think about sex on the second date deposits with premature withdrawal facility.
Low returns because actual returns are lower when you consider taxes and inflation.
Not suitable for long term wealth creation or the investors with high risk appetite (e.g young investors in their 20s or 30s).
After all if I assume there are 30 days in a month then 12 X 30 360.If it is 365, then great.Install Freefincal Retirement Planner App!You can also calculate total pre-tax and post-tax corpus for 365 days and 360 days per year.According to Google it is 365.242 days.Perhaps assume there are 360 days in a year?No claim (whether in contract, tort (including negligence) or otherwise) shall arise out of or in connection with the services against icici Bank.If I hold one year fixed deposits and determine maturity values using 365.242 days as the tenure, will my calculation match the maturity values listed in the bank statement?For more details see: Mutual Fund SIP Returns Calculator, according to Ravindra, using my effective no of days in a year calculator, he gets 353.055 per year for a fixed deposit offered by idbi bank.The interest is compounded quarterly (every three months) in most banks.To me, there seems to be only one way to tally the results.Tax to be paid each financial year advance tax liability if any, download the fixed deposit tax liability calculator (using effective number of days in a year).I don't understand this logic.Pre-tax corpus will now tally with the bank statement.No doubt about that. .A small difference - nothing to lose sleep over.Fixed Deposit is a kind of, term Deposit with higher interest rate (as compared to regular savings account) and because of high interest rate and low risk, it's quite a popular investment choice in India.Icici Bank, while providing and developing these tools, has relied upon and assumed, without independent verification, the accuracy and completeness of all information made available to it from public / private sources and vendors or which has otherwise been reviewed by icici Bank.Find out if you have enough to say "FU" to your employer (Google Play Store).Hdfc uses 363.927 per year.
Well suitable for conservative investors, limitations of FD, low liquidity.