I want to invest Rs 1,00,000 in a Fixed Deposit for 2 yrs in a public Sector Bank. I come in 30.9% Tax bracket. Which is the best Bank for me that will provide the maximum return? How do you answer this question? I also wan to get all the information on the Bank in India at a single place; Which is the website I should checkout? In this short article, we will see a very useful website which gives you all the information on Fixed Deposits and Banks in India.
How to find out Best Fixed Deposit
Have a look at http://www.way2goals.com/Project2/chooseBank.html. This website gives excellent information on Fixed Deposits based on different parameters given by you.
So if you want to invest Rs 1,00,000 for 2 yrs and 3 months in a Public Sector Bank and you belong to 30.9% Bracket, it will filter out the the list of best Banks that suit your needs and provides best return. It will also tell you what will be your final profit after paying tax and what will be your gain after factoring in Inflation (based on your expectation of inflation percentage).
See the following screenshot for the above figures. (click to enlarge)
- Maturity amount
- Interest Earned
- Interest After Tax
- Gain After Inflation
Currently The information on the website is updated twice a week.
Information about a particular Bank
If you go to http://www.way2goals.com/Project2/interestRatesByBank.html#. You can get all the basic information about a particular Bank at one place . It will give you information about
- Website of the Bank
- Interest Rates information for Different Tenures
Also checkout this link to learn some basic stuff . Way2Goals Software India Pvt Ltd is the company behind http://www.way2goals.com/ .
This is an excellent tool dedicated to Banking Information especially information on Fixed Deposits. Way2Goals is one stop destination for any information on Banking Sector. There is scope of adding lots of things, but I believe it will come with time as any other thing in Life. Great tool!!
If you come up with tools like these please share it with others here .
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