Are you a salaried professional who would like to invest in a good scheme with better returns and at the same time, looking out for a tax saving instrument?
Fixed deposit is your saviour as it not only provides you with higher fixed deposit interest rates, but even doubles up as a tax saving investment as you can save up to Rs.3,00,000 under the section 80C of the Income Tax Act.
So, with so much going for an FD investment scheme, can you still afford to let it go and lose a significant ROI on your investment? Hope not, right?
Let’s dish out some amazing features and benefits of an FD investment so that you are ready to enroll today!
Features of an FD investment
There are various features of a fixed deposit plan which you can know and then decide if you can still afford not investing in an FD!
A fixed deposit is a financial product where you deposit some fixed money with a lender over a fixed tenor. You are not allowed to break it before maturity and withdraw cash. In case, if you break it before the maturity period, lenders charge you a penalty or provide a lower interest rate payout than promised.
Unlike a bank’s recurring deposit where you need to deposit some fixed amount every month, a fixed deposit and is only a one-time deposit investment and not a recurring one.
Because of its fixed nature and one-time deposit feature, it economically makes its even more viable to utilize your extra money and keep it in an FD investment and also earn good ROI.
Whether you open an FD in a public or a private bank, the investment is covered and guaranteed by Deposit Insurance and Credit Guarantee Corporation which all service providers come under. Nowadays leading online non-banking finance company (NBFC) is also offering stunning schemes on fixed deposit investments. Thus, no matter where you invest, your money is absolutely safe!
Fixed deposit Advantages
Would you still like to lose on an FD investment after you have known the features? It’s time to introduce you to FD benefits to help you decide!
Earn a Higher FD Return
Have you kept a big amount in a bank’s saving account? You are not letting your money grow! Why? A fixed deposit scheme gives you a higher return on investment. Yes, on a minimum amount of only Rs.25,000, you can seize up to 8.10% fixed deposit interest rates and let your money grow the right way!
Restructure your expenses
When you open a fixed deposit account with a lender, it also forces you to avoid indulging in unwanted outgoings. As a result, your expenditure is streamlined by tweaking the expenses to income ratio. A fixed deposit is also handy in coping with urgent situations where you might need immediate cash flow.
Flexibility and liquidity
When you want some immediate money, an FD investmentlets you cover your situations. You can break it and use it for a need that requires money. Yes, a premature closure may attract some penalty, but is not it a good thing to have some money than having no money when it matters the most?
The Bottom Line
With the passage of time, the acceptance and the popularity of an FD investment with people have touched a new high primarily because of its feature to earn you a better ROI.
Would you still not want to invest in the scheme and earn a higher fixed deposit interest rate?
If you are still not sure, consult a known financial consultant today and know more about FDs and then take a call!