Best Fixed Deposits with High Interest Rates
A fixed deposit is an investment instrument offered by banks and NBFCs. FDs are popular as they give you guaranteed returns and a higher rate of interest if you compare them to a regular savings account.
Considered as one of the safest investment options, FDs offer you a fixed rate of interest till it reaches maturity.
Unlike mutual funds, ULIPs and other investment options that are subject to capital market risks, fixed deposit rather proves to be a risk management instrument.
Invest Smartly
With assured returns, flexible tenors, higher interest rates and several other advantages, it only makes sense to trust fixed deposit for your long-term investment plans.
You can easily strengthen your post-retirement financial security by making the right investment choices which should compulsorily include fixed deposits.
If you wish to create a savings for your child’s education or marriage plans and other important occasions that need planning well in advance, a fixed deposit is the best financial investment tool. In addition to higher returns, you also get tax benefits.
Instead of accumulating wealth in your savings account, you can easily transfer your funds into an FD and reap the benefits of FD interest rates.
Secure your future with the right investment plans in place. This includes having fixed deposits that can help you achieve long-term goals.
An FD may also come handy during medical emergencies. You can always rely on what you have saved instead of opting for a loan and spending extra money in repaying your entire loan amount.
An FD will enable you to save money under section 80C of the Income Tax Act. Fixed deposits come with very flexible tenors.
You can invest for a minimum of 7 days or for a tenor of up to 10 years.
Proper Planning is Key
If now is the right time for you to invest in an FD, it is crucial to do a thorough research! The rate of interest, in addition to other important factors, should be considered when you decide your choice of bank or NBFC.
The rate of interest offered by various institutions differs. NBFCs like Bajaj Finance offer the best interest rates on fixed deposits in the market.
So, before you come to a decision, it is crucial to find out more about the company, the features and benefits that you can avail and several other details.
You can make use of FD calculator to get a near approximate value of how much interest you can earn on the amount deposited.
Generally, it is always advised that you should not break your FD prematurely. Doing so might incur a penalty charge or lower your interest amount.
So, unless you are facing a financial emergency, make sure that you do not break your FD until the given maturity date.
Approach a Company that you can Trust
Information about the specific features offered by different companies is available online. NBFCs like Bajaj Finance provide easy access to FD calculators on their website for your convenience.
Bajaj Finance also offers competitive interest rates making it a top choice for investors. Only after you have weighed your options and are sure about the company fulfilling your expectations – which have to be practical enough –that you should seal the deal.
Category: Personal Finance
