A robust investment portfolio can help you achieve financial stability, and enable you to fulfil your financial goals. These investments also come handy during times of need, when you may require instant funding for medical emergencies, debt, or any unforeseen expenses.
If you’re looking for safe and secure forms of investment, fixed deposits can help you grow your money easily. Invest in FDs for greater flexibility, stable returns and periodic interest payouts. Here are some steps to help you grow your earnings via fixed deposits:
There are different FD schemes, which vary in terms of interest rates. Certain financiers also offer a higher rate of interest for senior citizens, which enables them to multiply their savings easily. You can also look for higher interest rates, upon renewing your deposits. You can look for such opportunities, which help you make the most of your returns.
Fixed deposits by Bajaj Finance offer the best features with easy online application process, a handy fixed deposit calculator, and 200+ branches across India.
Invest in FDs suiting your financial plans
You can choose to invest in cumulative or non-cumulative fixed deposits, depending on your goals. Cumulative FDs enable you to gain higher returns, as the interest is compounded quarterly, and paid at the time of maturity. As the interest gets compounded every quarter, it gets added to your principal amount and enables you to save a larger amount.
On the other hand, a non-cumulative fixed deposit enables you to earn periodic interest payouts, which are paid out monthly, quarterly, half-yearly or quarterly, depending on your choice.
When investing in FDs, making the right choice can enable you to reach your investment goals faster and maximize your returns easily.
Avoid untimely withdrawals
When you withdraw your FD investment before the end of the tenor or before it reaches maturity, you may have to pay a penalty. Premature withdrawal disrupts your financial plans and results in loss of interest. Instead of breaking your FDs, you can consider taking a Loan against Fixed Deposit, which can enable you to fund immediate expenses, without any adverse impact on your investment.
Additional Read: How to get Credit card against fd
You can also consider investing your FDs for a shorter tenor, and ladder your investments. This can help you take care of your liquidity requirements. When you choose shorter tenors, you can also look for ways to beat inflation, as your investments are not locked in a FD for too long. At the same time, you can reap benefits of higher interest rates offered by your financier, from time to time.
Investing in Fixed Deposits can be a good way to enhance your investment portfolio, as it helps you balance your risks. You can benefit from assured returns, higher flexibility and stability of your investment.
Bajaj Finance is now offering high rate of interest up to 8.35%*
*For senior citizens, on a cumulative scheme tenor of 36-60 months
DISCLAIMER: The mentioned fixed deposit interest rates are indicative only, and may be subject to change periodically. Please check the interest rates on our website.
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