Are you sure you want to report this content?
A fixed deposit investment or FD investment scheme not only provides you with a guaranteed return on your investment at maturity but also gives you the flexibility to choose regular interest payouts during the duration of your chosen tenor. As a result, storing your money in a high-interest FD investment scheme based on your desire for cumulative or regular gains is more profitable because you are guaranteed a return on your investment.
Assured Returns
The rates of return on FD investment scheme have been pre-determined in advance. It is the bank's responsibility to ensure that the customer receives the amount committed at the time of the investment. With guaranteed refunds, the buyer is not exposed to any risk of losing money. Also the maturity amount can be calculated in advance with the help of various online tools such as Bajaj finance FD calculator.
Guaranteed Returns
The rate of return on FD investment scheme is higher than the interest rate on savings accounts offered by banks. The interest rate on fixed deposits ranges from 3.5 percent to 8 percent per annum, depending on the bank and the duration of the account you choose.
Online Facility
Because of the continuing coronavirus pandemic, more and more people opt for the online option when opening, renewing or closing their bank deposit accounts. It is simple to complete the transaction through mobile or internet banking.
Multiple tenure options
The tenure can be chosen according to your convenience. There is no maximum tenure and it can be as few as 7 days or as long as 10 years.
Liquidity
The best aspect about FD investment scheme is that they allow them to withdraw their capital investment whenever they need to meet their financial obligations. Because the money may be accessed immediately, it is an excellent choice for dealing with financial emergencies. Any premature action, on the other hand, will result in fines.
Before putting money into a FD investment scheme, you should be aware of the rates of interest that are offered on fixed deposits. Returns can be calculated with the help of the online FD Calculator like Bajaj finance FD calculator.
FD Rates in upcoming years
Many banks and non-banking financial companies currently offer competitive fixed deposit rates for terms of up to two years. It is possible to earn an interest rate of up to 7.25 percent per annum, with elderly persons earning up to 0.50 percent more interest in FD investment scheme. As an investment vehicle, term deposits offer a variety of advantages, including premature withdrawal facility, guaranteed returns, a loan facility, and nomination facility, among others.
All senior persons are eligible to receive a higher interest rate on time deposits than the general public. Furthermore, because FDs are considered to be the safest investment option, it is probable that interest rates on FDs would rise in the coming years. According to global macro models and analysts expectations, the FD interest rate in India will be 4.00 percent by the end of this quarter. Considering India's long-term interest rate trend, our econometric models predict an interest rate of 4.75 percent in 2022 and 5.50 percent in 2023.
You can therefore open a Fixed Deposit Account at any bank in India and it will be the best investment option in upcoming years due to its popularity and increasing rate of interest. After the maturity period, you may receive a lump sum payout or a monthly payment. Fixed deposits are a safe and secure way for Indians to meet their financial goals since most people are opposed to investing.
Any employee contributing to an EPF account can check the balance of their account using internet.
00While investing in Bajaj Finance FD, you can choose the online investment option.
00A long-term investment is a must-do for all in today's world due to rising inflation and reducing.
00878 Launches
Part of the Self-Help collection
Updated on February 14, 2022
(0)
Characters left :
Category
You can edit published STORIES
Are you sure you want to delete this opinion?
Are you sure you want to delete this reply?
Are you sure you want to report this content?
This content has been reported as inappropriate. Our team will look into it ASAP. Thank You!
By signing up you agree to Launchora's Terms & Policies.
By signing up you agree to Launchora's Terms & Policies.