Benefits of Fixed Deposit https://www.mohindrainvestments.com/blog/benefits-of-fixed-deposit/
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Introduction of Fixed Deposit
A fixed deposit is an investment instrument offered by banks and non-banking financial firms, wherever you can deposit cash for a higher rate of interest than savings accounts. You can deposit a lump sum of cash in a fixed deposit for a specific period, that varies for every investor. Once the money is invested a reliable investor, starts earning an interest based on the duration of the deposit. Usually, the process criteria for FD is that the money can’t be withdrawn before maturity, but you may withdraw it after the deductions.
PITCH DECK V 1.0
Top Company FD Rates (Other than a bank)
ICICI Home Finance Ltd. Mahindra Finance Ltd. Shriram Transport Finance Ltd. Shriram City Union Finance Ltd. BajajFinserv Ltd. PNB HousingFinance Ltd. LIC Housing Finance Ltd. HDFC LTD
Benefits of Fixed Deposits (FDs) There are many reasons why fixed Deposits are one of the most popular financial products in India. Here are a number of the major benefits of fixed Deposits in India:
1.Guaranteed Returns:
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The return on investment is guaranteed. No matter the amount you have deposited in an FD, you will earn the amount at the interest rate prevailing at the time of making the deposit. Market fluctuations are not going to impact the interest returns on your investment. This is probably the reason why most experienced investors still wish to keep a part of their investment in Fixed Deposits
2. Plan Your Security:
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The security for a Fixed Deposit is extremely flexible. It ranges from seven days to ten years, depending on the customer’s needs. You can have multiple fixed Deposits in the same company at the same time for the same or various securities. You will receive an FD BOND for every fixed deposit.
3. Additional Profit:
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The rate of return on fixed deposits is higher when compared with a savings account. The interest rates modification based on the security of the fixed deposit. Most of the time, the interest rate is higher for FDs of a longer tenure. There are several exceptions since the company set the fixed deposit rate based on their anticipation of the repo rate (the interest rate at that run lends money to the banks). If a company feels that the repo rate can rise after five years, the FDs with the security of over five years will have a lower interest rate than one with a 3-year tenure.
4. Choose the Mode of Interest Payment:
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he investor will choose the frequency of interest they need to receive, it can be a monthly, quarterly or yearly basis. This may end up as another source of income for the investor. Alternatively, they can take a cumulative FD in which the interest is reinvested into the FD delivering even higher returns.
5. Better Interest Rates for Senior Citizens:
1.9 Billion One of the primary reasons why fixed Deposits are so common among 1.9 Billion senior citizens is due to the higher interest rates. The interest rate of a 1.9 Billion fixed deposit is usually better for the savings accounts and so the rate of 1.9forBillion interest senior citizens is higher as compared to other customers. 1.9 Billion
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