Question 1

Why Equals Fixed Deposit

Accepted Answer

If you’re looking for a safe investment option to boost your savings and get assured returns, investing in a Fixed Deposit is a great choice. The convenience of investing along with the safety of your deposit can help you plan your short-term and long-term goals easily.
At Equals Nidhi Limited, you get attractive FD interest rates of upto 12.00%, so you can save for your goals easily. Investing in a Equals Nidhi Fixed Deposit is simple, with an online investment process that enables existing customers to invest from the convenience of their home.
It’s mandatory to become member of Equals Nidhi Limited by purchasing minimum 10 share of face value Rs.10/- each.
 
Required KYC Documents:
Latest photograph
2. PAN card
3. Any one of the below:
a. Aadhar Card
b. Passport
c. Driving License
d. Job card issued by NREGA
e. Voter ID card
The following additional documents need to be submitted along with application form:
Account Payee Cheque for Amount deposit.

Question 2

Features

Accepted Answer

Features and Benefits of Equals Nidhi Fixed Deposit:
 
Upto 12.00% Return on Fixed Deposit
Equals Nidhi Fixed Deposit offers a lucrative interest rate of up to 11.50% for lock-in period of minimum 24 months, which can go up to 12.00%  for Senior Citizens with minimum lock-in period of 6 months. Investing in this FD can help you accumulate your wealth and grow your corpus, with assured returns.
 
Flexible Tenors
When investing in a Equals Nidhi Fixed Deposit, you can choose the tenor between 12 and 60 months, to suit your financial needs. This can help you with your liquidity needs, and you can ladder your investments to enjoy a higher cash inflow.
 
Minimum deposit of Rs. 25,000
The minimum deposit required to invest in a Equals Nidhi Fixed Deposit is Rs. 25,000, which makes it easier to invest. With this minimum deposit amount, you can start investing any time, without having to wait to accumulate a larger corpus. Even with a smaller minimum deposit amount, you can ladder your investments, and earn better returns.
 
Online Loan against Fixed Deposit
In case of emergencies, you can withdraw prematurely from the fixed deposit, post the initial lock-in period of 3 months. However, in order to avoid loss of interest, you can choose to avail a Loan against Fixed Deposit, where you can take an easy loan. However, the amount of your Loan against FD cannot be more than 75% of FD value.
 
Invest using debit card
Invest in FDs using debit cards (available in select locations only).
 
Auto renewal
When filling your FD application form, you can choose to auto-renew your FD and save the hassle of filling in the renewal form again during maturity.
 
Multi deposit facility
When filling your FD application form, you can also choose to invest in multiple deposits through a single cheque payment. Opt for different tenors and interest payment frequencies for each of these deposits. In case you need urgent cash, you can prematurely withdraw from a single deposit, without having to break all other deposits.
Investing in a Equals Nidhi Fixed Deposit offers you a balance of convenient investment process, lucrative interest rates of up to 12.00%, and safety of your deposits, which makes it one of the safest investment option for you to grow your savings easily.

Question 3

FD Interest Rate

Accepted Answer

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Amid falling interest rates and fluctuating market conditions, Fixed Deposit interest rates offered by financiers may not appear too attractive, but you can invest in a Equals Nidhi Fixed Deposit to reap the benefits of attractive interest rates of up to 12.00%. In addition to competitive interest rates, Equals Nidhi Limited offers several benefits that make it easy for you to invest and grow your savings.

However, your FD interest rates depend on the tenor, and interest payout frequency you choose.
Equals Nidhi FD offers one of the best FD rates in India for its Shareholders/Members, which go up to 11.50% and upto 12.00% for Employees/senior citizens.

Along with the highest FD rates, you can look for high safety of your deposit, along with flexible tenors, periodic interest payouts, multi-deposit facility, auto-renewal facility and easy loan against FD.
 
This ensures a hassle-free investment experience along with the benefit of growing your savings with the best FD rates in India.

Start your investment journey with Equals Nidhi FD, and make your savings grow easily.
 
Rate benefits basis member’s category (w.e.f 01 March 2020):
+ 0.50% for senior citizens/Equals Nidhi Employees.
 
Renewal:
+0.25% over and above the rate of interest at which the deposit is booked.
 
Cumulative FD vs Non-cumulative FD:
Choose from Cumulative FDs (where interest is payable at the time of maturity) or Non-cumulative FDs (where interest may be payable at monthly, quarterly, half-yearly or annual basis).

Question 4

FAQs

Accepted Answer

What is Cumulative FD vs Non-cumulative FD?
Choose from Cumulative FDs (where interest is payable at the time of maturity) or Non-cumulative FDs (where interest may be payable at monthly, quarterly, half-yearly or annual basis).
 
How much interest will I get in 5 years?
If you invest in a Equals Nidhi Fixed Deposit for 5 years, you can grow your savings by more than 72% and senior citizens can grow their investment amount by ~76%.
Equals Nidhi Fixed Deposit offers attractive 5-year FD interest rates, so you can grow your savings easily.
 
Can I get monthly interest on Fixed Deposit?
Yes. You can always choose the option for periodic interest payouts, and opt for monthly interest on your Fixed Deposit.
 
Is interest on FD taxable?
Yes. The interest on Fixed Deposit is fully taxable. The income you earn, is added to your total income and taxed at slab rates, applicable to your total income. It is then, shown under ‘Income from Other Sources’ in your Income Tax Return. In addition to Income Tax, banks and companies also deduct TDS on your interest income.
 
How to Choose Best FD Rates Scheme?
It is important to choose the right scheme for best Fixed Deposit rates, based on your requirement. You have the options to get your interest at the end of your maturity period, or opt for periodic payout options. In case you’d like to tend to your regular expenses, you can choose the option of periodic payouts, but if you’d like a lump sum amount at the end of your tenor, you can choose to get your interest at the end of your tenor. Some investors also consider the current FD rates, when planning to invest. While this may be a great way to grow your savings.
 
Is FD A Good Investment?
Investing in Fixed Deposit is best for risk-averse investors seeking a stable investment avenue to grow their savings. You can benefit from one of the best FD rates, flexible tenors, and choose periodic payout options. FDs are one of the best low-risk investment options that can help you increase your savings easily. You can get guaranteed returns, without any effect of market fluctuations.
 
What Is the Minimum And Maximum tenor For FD?
You can choose your tenor, when you invest in Equals Nidhi Fixed Deposits. You can choose a tenor between 6 and 60 months, and in case you choose to get periodic payouts, you can also choose the frequency of your periodic payouts.

Question 5

Fixed Deposit Interest and Income Tax

Accepted Answer

The income you earn on your FD is termed as Income from Other Source and it is fully taxable.
TDS will not deduct, if your interest income from fixed deposits is less than Rs.40,000 in a year.
You need to submit Form 15G and Form 15H with the bank at the beginning of the financial year. Banks will not deduct TDS following the form submission.
Under tax saver FDs, the maximum exemption you can get is Rs.1.5 lakh.
The tax benefit is offered under Section 80C of the Income Tax Act, 1961.

EQUALS

IFSC CODE: YESB0CMSNOC

Fixed Deposit

Recurring

Deposits

Monthly Income Deposit

Purpose Savings Account