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                              What Makes FD an Attractive Investment Option

                              Admin by Admin
                              November 27, 2019
                              in TV & Movies
                              Reading Time: 3 mins read
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                              What Makes FD an Attractive Investment Option
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                              Fixed Deposits (FDs) have been one of the most preferred investment options for Indians for a very long time. This is due to the risk-free nature and guaranteed returns after a stipulated period of time. FDs inculcate the habit of saving in people by making them set aside a specific lump sum amount every month for a fixed period. Many banks and NBFCs now provide Fixed Deposits with flexible tenors and competitive interest rates, so that the customer can choose the one that would best fit his/her investment plan.

                              Since it is a steady source of income, it can be easily availed by youths as well as senior citizens. Several reasons make FDs one of the best investment options for any kind of investor.

                              Some of the major ones are listed below:

                              1. Assured Returns

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                              The most crucial reason why Fixed Deposits are such a popular choice is their reliability. FDs are easy to avail of and offer guaranteed returns. Once you park a certain sum of money in an FD, it will multiply as per the FD interest rate and offer undoubtedly higher returns.

                              Since there are no risks involved in FDs, it provides assured returns post the tenor of the fixed deposit. Companies also provide several facilities regarding higher yields and flexible tenor, making it one of the best options for FDs in the market.  

                              2. Higher Rate of Interest

                              FD interest rates are much higher compared to the saving deposit rates, which makes it a more preferable option. Fixed deposits are offered by banks as well as NBFCs. The rate of interest provided by NBFCs is generally higher than banks. However, certain financial companies provide FD Interest Rate as high as 8.46%, which can give you higher returns than most banks. You can also use the FD calculator to calculate the interest and tenor before choosing an FD that fits your needs.

                              3. Liquidity

                              With Fixed Deposits, you can withdraw funds according to your needs any time; however, there are minimal penalty charges for doing the same. This might affect the returns marginally; however, the flexibility of being able to withdraw the amount can help you out during an emergency or financial crunch. However, if you go for Fixed Deposits with NBFCs, you can also avail the facility of withdrawing money any time with extremely negligible penalty charges.

                              4. Higher Flexibility

                              The tenor of fixed deposits generally can range from 7 days to 10 years, depending on the scheme that you choose to go for. This gives you the flexibility to choose a tenure that is suitable for your preferences and finances. You get several options for tenor when you avail Fixed Deposits with NBFCs which lets you optimize your investments according to your goals.

                              5. Tax Benefits

                              With Fixed Deposits, you can get tax exemption benefits under Section 80C. It is important to note that the interest rates on these fixed deposits are taxable. However, the investor can claim deduction up to a maximum of Rs. 150,000 on the invested amount if they invest in tax saver fixed deposits of 5 years.

                              Based on the advantages above, Fixed Deposits can be considered as one of the most lucrative investment options for any kind of investor who wants assured returns with minimal risks.

                              Tags: fd investmentFixed Deposits
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