One of my freinds wants to deposit an amount of Rs15 lakshs in bank for 1 year term deposit ( for an interest rate of 9.75%). she is been advised by bankers that, better to split the amount and deposti to avoid the RBI intervention.
Dear experts, kindly give ur valuable suggetions to get cleared by this doubt as interest amount is the only source of her income and she is completely depending on this amount to survive.
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Pl urgent help....Term Deposit in Bank - RBI Intervention
Replies (2)
what is the source of the money, has it been taxed earlier if so there is no need to be worried, if it has not been taxed than he should not deposit.
You should deposit it in parts in different banks in different family members.
e.g Central Bank of India is giving 9.6% interest p.a cumulatively quarterly for 555 days.
You should make T.D in the name of your parents, your wife, children grand parents in part i.e about 45 to 49 k in each one's name.
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