SBI Maxgain account Vs Fixed Deposit

POSTED BY sumantgupta ON October 29, 2013 6:40 pm ONE COMMENT

Hi ,

Could  you please let me  know which would be better investing(home loan is in name of my wife and me)

1. SBI maxgain at 10.05 %.With this i get income tax rebate @30% on interest part so the effective yield is 10.05- 3%=7%

2. Fixed deposit at 9%.On this income we are not eligible for income tax as my spouse left the job and is currently income-less and all the FD are in her name.So effetive uield remains as 9%

Is my calculation correct ot is investing in FD a bad idea ?

Regards

Sumant

One reply on this article “SBI Maxgain account Vs Fixed Deposit”

  1. ashalanshu says:

    Dear Sumant, FD ‘ll provide better return due to positive compounding.

    Thanks

    Ashal

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