5 Benefits of Investing in FD than in a Savings Account
Savings are crucial for financial stability, but investments are even more important. Investments
don’t only offer financial stability but financial growth as well. They can help you in times of
financial emergencies and aid in building corpus after retirement. There are many ways to
invest your money and at various sources. The two most famous options are fixed deposits and
savings account.
FD vs Savings Account these two options don’t have any risk associated with it. But when you look at the returns,fixed deposit is a better and more lucrative option than the savings account. Here are some reasons why you must invest in a fixed deposit.
1. Interest rates
FDs offer a higher interest rate than the savings account. While you get roughly around 4% interest rate on a savings account; FDs offer a whopping 8.75% interest rate.
2. Return
You will get assured returns at maturity. There is no uncertainty on whether you will or not get
your money along with the assured interest.
3. Number of deposits
There is no limit on the number of deposits in case of fixed deposits.
4. Growth
FDs offer long-term growth of surplus funds.
5. Withdrawal
You can easily withdraw your money in case of an emergency.
Many financial institutions provide FD schemes where you can invest and watch your surplus
grow. NBFCs like Bajaj Finserv offer a higher interest rate for senior citizens (you can know
more about all the schemes by visiting www.bajajfinserv.in). Such schemes assist in securing
your future efficiently and effectively.
don’t only offer financial stability but financial growth as well. They can help you in times of
financial emergencies and aid in building corpus after retirement. There are many ways to
invest your money and at various sources. The two most famous options are fixed deposits and
savings account.
FD vs Savings Account these two options don’t have any risk associated with it. But when you look at the returns,fixed deposit is a better and more lucrative option than the savings account. Here are some reasons why you must invest in a fixed deposit.
1. Interest rates
FDs offer a higher interest rate than the savings account. While you get roughly around 4% interest rate on a savings account; FDs offer a whopping 8.75% interest rate.
2. Return
You will get assured returns at maturity. There is no uncertainty on whether you will or not get
your money along with the assured interest.
3. Number of deposits
There is no limit on the number of deposits in case of fixed deposits.
4. Growth
FDs offer long-term growth of surplus funds.
5. Withdrawal
You can easily withdraw your money in case of an emergency.
Many financial institutions provide FD schemes where you can invest and watch your surplus
grow. NBFCs like Bajaj Finserv offer a higher interest rate for senior citizens (you can know
more about all the schemes by visiting www.bajajfinserv.in). Such schemes assist in securing
your future efficiently and effectively.
Also, Read This: Difference between Fixed Deposits Vs Savings Account
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