You may be popping up this question – why to opt for a fixed deposit scheme when there are numerous investment schemes available in the market these days, right?
The answer to the question is that as compared to other market-based investment programs such as mutual funds, equities, stocks and more, the interest profits of a fixed deposit plan is fixed.
It means that no matter how the situation of the market is, your interest ROI is sure-shot and you won’t hit loss.
Thus, if you are looking for an investment-cum-saving plan to give you guaranteed returns, you can blindly opt for an FD scheme.
In the same context, let’s provide you some reasons that make a FD (Fixed Deposit) scheme your best savings vehicle.
- A higher return at a lower risk
When you invest in an FD scheme, you not only get to avail a higher return but also avail it at a lower risk. As the profit of the fixed deposit is not affected by market conditions, you stand to gain a higher return at a lower risk.
- Senior citizens get more profits
If you are a senior citizen and looking to invest your savings in a fixed deposit plan, you can gain to avail the highest FD interest rates returns. Being a senior citizen pays you and lets you pocket an extra 0.35% profits which are actually 8.20%. Leading online lenders or service providers will have you get a fixed 8.20% FD interest rate on your investments.
- You don’t have to put in a high amount
A fixed deposit account with an online lender won’t demand a higher amount to keep. You can begin investing in an FD account with as little as Rs.25,000 only. What’s more, you also get to choose a flexible tenor varying between 12 months to 60 months. However, the concept is simple to understand – the higher the tenor you opt, the higher your investment profits.
- You stand to gain higher stability of investment
The fixed deposit schemes which you activate for savings or investment purpose have the higher stability of investment. It is because the fixed deposit programs of online leading are safe and have the ratings of CRISIL’s FAAA and ICRA’s MAAA. It means that your fixed deposit investment is absolutely safe and won’t suffer any loss no matter what the market condition is.
- Provides you loan facility in need
An FD account also lets you avail a loan facility against your FD balance. Hence, you don’t have to break your FD prematurely and suffer your profits loss and also serve a penalty.
The Bottom Line
What are you still waiting? You can easily apply for an online fixed deposit account with a leading online lender, and be sure to earn huge profits as the year roll. All the best!