Fixed Deposit (7 to 15 days)

[thekirang]

Can we make fd for 7days or 15days to get benefits ?? and can we repeat this every month ? Now Pro players got the source of money 🤣

 

[rp0703]

Can we make fd for 7days or 15days to get benefits ?? and can we repeat this every month ? Now Pro players got the source of money 🤣

you can create fd for 7 or 15 days but interest rate would be either same as saving interest rate or around 0.25% above the savings interest rate.

 

[Wealth is my birth right!]

Can we make fd for 7days or 15days to get benefits ?? and can we repeat this every month ? Now Pro players got the source of money 🤣

use hdfc savingsmax for this its tested

 

[blacktiger]

whats the context? 🤨

 

[Waynoway]

I do it in Paytm payments Bank on the day my credit card bill is generated and withdraw it 2 days before it is due. so fd is active for like almost 15 days and i get the interest for same without any penalty

 

[Batmanbaba]

But every fd u will create... It will be tracked by pan.... If it comes under the radar kf it dept... U have to do very good explanation of source of funds..

 

[Waynoway]

But every fd u will create... It will be tracked by pan.... If it comes under the radar kf it dept... U have to do very good explanation of source of funds..

would they care about fd of 10-20k monthly? this fd is just for 10-15 days and is used to clear the credit card bill. the amount which would be sitting in savings account is kept aside in fixed deposit. interest hardly is 20-30 rs.

 

[Batmanbaba]

would they care about fd of 10-20k monthly? this fd is just for 10-15 days and is used to clear the credit card bill. the amount which would be sitting in savings account is kept aside in fixed deposit. interest hardly is 20-30 rs.

I said if ever a notice comes..... Dont make the total cumulative fd in year go above 5 lakhs.. And why to do fd... Invest in 12% club or mobikwik xtra... Xtra is easy in withdrawal... U will get interest per pay which is much more than fd and since its short term.... Risk will be less

 

[Waynoway]

I said if ever a notice comes..... Dont make the total cumulative fd in year go above 5 lakhs.. And why to do fd... Invest in 12% club or mobikwik xtra... Xtra is easy in withdrawal... U will get interest per pay which is much more than fd and since its short term.... Risk will be less

cumulative 5 lakhs is something i was unaware of. have easily crossed that limit so will stop doing till April now. I have no explanation of funds.

 

[Batmanbaba]

cumulative 5 lakhs is something i was unaware of. have easily crossed that limit so will stop doing till April now. I have no explanation of funds.

I was too doing this... So my branch manager told this... So now I put the money in 12% club and mobikwik xtra... As there nothing is automatic... If u fill itr u have to urself fill that u invested this amount and got this much profit

 

[Wealth is my birth right!]

whats the context? 🤨

my hdfc bank ppl call on month end evenings requesting some FDs for a week and i will create under their branch code and provide FD ref which my RM put under her target and i get credit in SB acc after a week thats how tested haha

 

[Waynoway]

I was too doing this... So my branch manager told this... So now I put the money in 12% club and mobikwik xtra... As there nothing is automatic... If u fill itr u have to urself fill that u invested this amount and got this much profit

shit! I'm using Paytm payments Bank so no branch manager would help me. thanks for the guidance.

 

[Arpit Kumar Wadhwa]

you can create fd for 7 or 15 days but interest rate would be either same as saving interest rate or around 0.25% above the savings interest rate.

It's generally less for some banks like Kotak plus you would need to pay tax on FD

 

[H2O]

What’s the issue if people are doing FDs of their salary money? There should not be any limit and questions by IT department.

 

[ltf4ever]

my hdfc bank ppl call on month end evenings requesting some FDs for a week and i will create under their branch code and provide FD ref which my RM put under her target and i get credit in SB acc after a week thats how tested haha

Can we make fd for 7days or 15days to get benefits ?? and can we repeat this every month ? Now Pro players got the source of money 🤣

what's the benefit?

 

[avishj]

I said if ever a notice comes..... Dont make the total cumulative fd in year go above 5 lakhs.. And why to do fd... Invest in 12% club or mobikwik xtra... Xtra is easy in withdrawal... U will get interest per pay which is much more than fd and since its short term.... Risk will be less

I have never heard of this 5L rule, can you point me to any source for the same?

 

[Wealth is my birth right!]

what's the benefit?

Building rapport with RM and money rotated from cc is utilised both targets met haha

 

[Souvik]

I was too doing this... So my branch manager told this... So now I put the money in 12% club and mobikwik xtra... As there nothing is automatic... If u fill itr u have to urself fill that u invested this amount and got this much profit

hey I am looking forward to park some amount (around 1L) in 12% club, wanted to understand the platforms and risks therein, can you please advise which one is best with least risk ?

Also pls advise how to open an account with them....I don't use either of cred or mobikwik at present.

 

[Batmanbaba]

hey I am looking forward to park some amount (around 1L) in 12% club, wanted to understand the platforms and risks therein, can you please advise which one is best with least risk ?

Also pls advise how to open an account with them....I don't use either of cred or mobikwik at present.

MobiKwik is easy... Juat open normal mobikwik account... Do ful kyc using aadhar and you are ready to use all the services.

 

[Batmanbaba]

I have never heard of this 5L rule, can you point me to any source for the same?

There is no source but they have been guven instructions to send the names of people doing fd for more than 5 lakh per year to local IT dept office....Its not that its illegal... You come in the notice of It dept... They may look into your details... ... These are conventions followed...