Investing in a Fixed Deposit of a Non-Banking Financial Company

The prospect of earning is accompanied by a desire to save a portion of the earnings. Investing, which is more complicated than saving is also considered but a majority of individuals stick to putting their spare funds in a savings bank account. Unfortunately, the earnings are quite low and fall in the range of 3 to 5% in case of savings accounts.

FDs are a great way to save money, and they also help you earn greater returns. Banks as well as Non-Banking Financial Companies (NBFCs) provide fixed deposits with varying rates of interest and benefits. By investing in FD, an individual can earn more than double of what they were earning from their savings account, and at the same time, they can enjoy the safety and security provided by a savings account.

Of late, the Reserve Bank of India has introduced new policies that have adversely affected interest earnings from fixed deposits. This is especially true for the FDs offered by banks. Working of fixed deposits an insight which help you to know how FD will provide you assured returns. 

In case of FDs from NBFCs, returns in the form of interest earnings have not taken a hit like those of banks. Apart from a higher interest rate for FDs, investors can also benefit from the various tenure options available. So, one can choose a tenure according to their convenience and financial requirements.

Read More: Will Rates on Savings Deposits Fall?

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