Fixed Deposit As An Investment Option

Fixed deposit is a low-risk financial investment option which offers guaranteed returns. It is ideal for investors of every age group willing to deposit a fixed amount at once. It is a highly preferable option by most investors as it offers higher interest rate than a regular savings account and is low maintenance.

However, before booking your deposit here are few things you must bear in mind to yield best results.

Interest rate

The rate of the deposit will determine your interest income. Opt for company fixed deposits offering higher interest rates which help to make more income on the fixed deposit. For instance, leading NBFCS provide interest rates starting from 8.40% onwards.

They also provide top-up rates upon renewal of deposit by 0.25% on base rate. While, senior citizens can earn top-up rate by 0.35% and make higher interest income.

Deposit amount

NBFCs understand how critical financial planning is for you. Therefore, they let you open deposit with a minimum amount of just Rs. 25,000. As this is not a huge amount it helps to easily accumulate wealth and grow your corpus.

Highly secure

Deposit is high on safety and stability with ICRA’s MAAA (stable) rating and CRISIL’s FAAA/ stable rating, so that your investments are never at risk. Besides, the deposit is free from market fluctuations and helps you earn assured returns.

Flexible tenure

You can opt between 12-60 months of tenure to fix your deposit to suit your financial requirements. In addition, NBFCs offer a 15-month special tenure deposit which provides 0.25% more than the return of a 12-month deposit.

Know more about investment option in Nagpur.