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[Music] hello friends let's learn to bank platform an up her welcome here this accession may have term deposits code discus carrying a thermal deposits may do perk OK deposit say one is called fixed deposit another is called recurring deposit, so first we shall discuss the features of fixed deposits friends in case of fixed deposits amount is deposited on one-time basis and this is deposited for a fixed period fixed deposit accounts may deposit Aymara amounts each bar may deposit KIA data or a fixed period clear deposit KIA data this fixed period can be minimum seven days maximum ten years or is fixed period Co who's a deposit car maturity period CAA data, so maturity period of fixed deposit can be minimum seven days and maximum it can be ten years premature withdrawal is allowed subject to penalty deduction, so this amount is accepted by the bank for a fixed period in case of need the customer can be permitted premature withdrawal, so maturity period say Well a customer Co withdrawal permit KIA Jessica, but that is subject to certain penalty deduction which amount bank was may say as a penalty recover Carlito hey or premature would also permit they think friends loan can be given loan can be taken by the customer against current value of the deposit premature withdrawal knock our key customer whose deposit amount key current value K against loan racecars acting in tests can be paid periodically, or it can be paid on maturity along with the principal is fixed amount K o per mil level average Co periodically pizza Osaka yeah on maturity along with the principal receive Via supplier in test come out income tax point of view say taxable income capital manager age if amount of annual interest is more than rupees 10000 then tax card adduction Bank Authority Ajay Agra, so we are amounted of annual interest element test mean in tests in a financial year when this is more than rupees 10000 the banks will deduct tax at the source TDS tax deduction at source becomes applicable so at the rate of 10% tax will be deducted by banks on amount of interest when amount of interest is more than rupees 10,000 friends where amount of principal and interest is more than rupees 10,000 will grow more than 20,000 so when amounts are 20,000 and more the payment on maturity will not be made in cash it can be made through account only so whenever payment is less than 20,000 the can make this payment in cash also but when payment of principal and invested together is twenty thousand and more than a cash payment shall not be made the payment shall be made through an account fixed deposit is not transferable to any other person's name so if account is opened by a cannot be transferred to be but name of B can be added so if account is opened in the name of a B's name can be added, so these are the features of a fixed deposit now let us see the features of recurring deposit friends most of the features of fixed deposits are same applicable in case of recurring depositor also so...
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