Can we open fixed deposit as monthly payment option ?

POSTED BY Vivek ON October 2, 2013 11:03 pm COMMENTS (3)

Dear All,

Is there any monthly income scheme with good return? Can we open fixed deposit as monthly payment option and interest can be use PPF installment, Which option is good monthly or quarterly or annually ?

3 replies on this article “Can we open fixed deposit as monthly payment option ?”

  1. ashalanshu says:

    Dear Vivek, please do note, in case of PPF, to maximize your earning, it’s advisable to put all the money between 1st April to 5th april year. this ‘ll make sure that you ‘ll earn full year’s interest on your deposit amount. If deposit on mly basis, you ‘ll lose this interest.

    No, tax free bonds are not offering 1/2 yly or qtly interest option.

    Thanks

    Ashal

  2. ashalanshu says:

    Dear Vivek, Yes, now a days banks do provide mly interest pay out option. why do you want to use interest to be invested in PPF in mly mode? What do you want to achieve from this exercise?

    thanks

    Ashal

    1. Vivek says:

      nothing anshal, i thinking safe things is that, if we invest some amount for regular income and that income automatically invested also, like post office monthly income scheme where we can open RD on monthly interest also,
      also can tax free bond give us monthly or quarterly income – which we can invest directly on ppf, – does it the best option to minimize tax liabilities?

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