If you think whether to invest your savings in a fixed deposit plan of a bank, you should switch to a company’s FD scheme. WhyIJ It’s because a bank’s fixed deposit plan may not give you enough returns which may not serve the purpose of your investment.
As a result, investing in a
Fixed Deposit (FD) plan of a non-banking finance company (NBFC) could be beneficial as it provides an ocean of benefits. let’s have a quick look!
1. A Higher Return on your Investment
If you are a standard citizen, you can grab a sure-shot 7.85% FD interest rate returns on your investment. You could grab a fixed 8.10% ROI on your investment if you happen to be a senior citizen. Don’t settle for a 4-5% and lesser ROI for leaving your savings in a bank’s savings account and bank’s FD!
2. Your Investments are Guaranteed
Compared to mutual funds, stocks and more, the ROI of your FD is fixed which means you will get the benefit of the promised payouts no matter what the market condition is.
3. Get the Benefits of Higher Credibility and Stability
Company fixed deposit plans also offer ICRA’s MAAA and CRISIl’s FAAA stable ratings which means that your investments are never at risk. You can invest an amount and live stress-free.
4. You Don’t Need to Invest a Bomb in a Company’s FD
Yes, an investor need not worry about putting in a hefty amount while opening a fixed deposit account with a company. You can begin with as little as Rs.25,000 so that you are free to invest in every budget. The higher your investment, the higher will be your ROI on maturity.
5. Flexible Tenor Options
A company’s fixed deposit scheme also lets you avail the benefit of flexible tenors. The tenors range between 12 and 60 months, to help you match your financial needs. What’s more, you also get the flexibility to close your current fixed deposit and start a new one for a different tenor, if the need is and if you change your mind.
6. The Convenience of a Fixed Deposit Calculator
You need not calculate how much you will be able to receive as your interest payout after the end of a tenor manually. leading online service providers lets you do this by using their
FD calculator available free of cost on their websites. All that you need to enter is your amount and the tenor, and the FD calculator will display your ROI.
7. Online Application Process
When everything is available online, why should not be your fixed deposits beIJ Yes, online FD companies let you apply for your fixed deposit account over the web, to save your precious time and hassles.
8. Online Account Management
All prominent non-banking finance companies or NBFCs lets you access your fixed deposit accounts online. As a result, when can access your fixed deposit account over the web, you can easily keep track of the investment hassle-free as well.
With so many features and benefits of a fixed deposit plan, it would be prudent to still invest in an FD investment with a reputed online company. If you are looking for an investment option without risk factors when it comes to the ROI, you could rely on an FD.
Why wait and not put your money to workIJ You could apply for a company fixed deposit account online and make the most of your investment over a tenor! Best of luck for your investment in 2018!