Investing is a sure-shot way of generating wealth over time. Idle savings are no good when it comes to beating inflation because they do not increase in value just stashed away in a savings account. When you invest them in financial tools with a good interest rate, you can make more money. The earlier one starts the better it is. This is because you can take advantage of the power of compounding.
When it comes to safe investments Fixed Deposits top the chart because they are reliable and give decent returns as well. Individuals can use this investment tool to park their long-term savings as a retirement fund, down payment for a house or car, or even as an emergency fund. Usually, bank FDs give lesser returns so if you aim to yield more you can invest in a company FD with good credit ratings. These financial institutes might not be government-backed but function under the tight scrutiny of the RBI making them safe investment avenues.
Bajaj Finance is one such financier that offers deposits at lucrative fixed deposit interest rates and ensures the complete safety of funds. With deposits starting at just Rs. 15,000 this is an excellent tool for even those who do not have a sizeable corpus to invest in one go. This FD also comes with a suite of other benefits. Apart from this, they offer another alternative to investors that has a monthly saving option like a SIP but practically functions like an FD. You can make small monthly deposits starting at just Rs. 5,000 and grow your corpus over a fixed tenure. With both these options available choosing the one that suits you can be a little confusing. Here is how you can choose between FD and SDP.
