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Bank Deposits

Borrower

A borrower, whether an individual or a company, is someone who obtains money from a lender for a specific purpose. The borrowed funds are utilized for a set period of time, after which they must be repaid with an added fee known as interest. This transaction between the borrower and lender is a crucial aspect of finance, with varying terms and conditions that must be carefully considered.

Taxable interest

In the realm of finance, it is crucial to understand the taxation of interest earned on fixed deposits. According to the Income Tax Act, any interest earned on a fixed depos...

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Nomination

Account holders often receive requests from banks to make nominations, a process where they select individuals to receive the money in their accounts in case of their passin...

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Borrower

A borrower, whether an individual or a company, is someone who obtains money from a lender for a specific purpose. The borrowed funds are utilized for a set period of time, ...

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Tax-saving fixed deposits

Allow me to introduce you to a unique type of fixed deposit that offers a valuable tax break to investors. This deposit allows individuals to invest a certain amount of money...

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