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NBFC Vs Banks Fixed Deposits: Where to Invest?

While planning to invest money, many of us commit a common mistake: not comparing the available options. We invest without comparing, only to find out higher interest rate was offered in the market.

Coming to the conclusion, if you are unsatisfied from your current FD and the offered interest rate, close it. Open a new FD with financing organization offering the highest interest rate. Here is a comparison between FDs by Banks and NBFCs.

Non-Banking Financing Company (NBFC) VS Banks?




Interest Rate

The interest rate offered on FDs by NBFCs are higher in comparison to public sector banks. The NBFC interest rates can be high as 8.10% p.a, whereas, public sector banks range between 6.40% P.A to 6.75% p.a.


Easier Account Access

NBFCs offer online account assessment which makes it easier to manage your FD. Whereas, the renowned public sector banks might not be offering the same.

Lesser Documentation

If you talk about documentation, banks have a very tedious documentation process compared to NBFCs.



Better Customer Support 

The customer support is the best when you’re considering private NBFCs. You can call their helpline number, email them for support, and even ask for doorstep service. You won’t get the same services or privileges from banks.

Bottom Line: Under this segment we have discuss about the where to invest your money in Bank or company FDs. Hope this post will help you to opt best one according to the your requirement. If you have any doubt or suggestion you can share your thought by comment box.

Confused? Visit Bajaj Finance Customer Care page to speak to our customer care representative. Have any Doubt? Read unbiased Bajaj Finance Reviews to know more about Bajaj Finance Fixed Deposit.  
 
Visit :  Bajaj Finance Terms and Conditions page to know all the T&C for Fixed Deposit in India.  

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