The fixed deposit market is among the favorite investment options of Indians, since it guarantees secure returns with high interest rates.
The fixed deposit is one of the earliest and safest investment instruments. Savings accounts and current accounts provide lower interest rates than fixed deposits. Individuals should diversify their investment portfolio into multiple types of fixed and variable income investments. Regular investment income is generated by fixed deposits.
Your money is essentially locked up for a set amount of time when you put it into fixed deposits. The principal sum may earn interest from time to time on a cumulative basis. Since the tenures of FD accounts are flexible, you can manage multiple accounts with different tenures. Interest gets added to the principal amount after every specific interval. Your investments will go further if you do that. Apart from this, even NRIs (Non-Resident Indians) are able to open FD accounts in India through NREs (Non-resident External) and NROs (Non-Resident Ordinary). You can grow your money with assured returns when you invest in fixed deposits, one of the most secure saving options available. By offering guaranteed high returns along with security of principal amount, these investments allow you to invest for a better and secure future. Unlike investments in the stock market which are subject to market risks, fixed deposits are safe investments that guarantee returns. When you invest your money, you are aware of exactly how much you will earn at maturity. This is a great help when you set financial goals as you know how much your money will grow within a period. It also helps with financial planning as you can invest any amount of your choice, depending on your savings.
Ensures that your earnings grow steadily and effortlessly.
It offers benefits to both Individual and HUFs investors.
Type of FDs wherein the earned interest is only available to you on maturity.
The principal sum may earn interest from time to time on a cumulative basis. Since the tenures of FD accounts are flexible, you can manage multiple accounts with different tenures.
The traditional instrument still remains one of the best options for many investors despite the proliferation of other options. The following are some reasons:
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