We have plans to add recurring deposits option to My Investments, says Dhirendra Kumar
Value Research Online is a very useful tool and source of information on investments. In My Investment tool, will you be making available the option to add recurring deposits with banks or post offices?
- Nitin Rodha
As of now, you will not be able to add your recurring deposits to My Investments section of Value Research Online. But yes, we have plans to add the recurring deposits feature to the My Investments section of Value Research Online. Many users have been asking for this feature and we plan to add this very soon.
However, to add any recurring deposits under the My Investments section, you will need to provide us three inputs - the period of the deposit, frequency and the interest rate. Since the interest rates of recurring deposits keep on changing, we do not have any central repository that stores the interest rates on recurring deposits for different banks and hence, would need this input from users.
Having provided all these three inputs, the recurring deposits will be factored in your total net worth and will help you calculate the tax liability on your interest.