People often think about investing their savings in some plan so that they earn interest on this investment in the future. One such plan is a fixed deposit plan, but you should use the company’s fixed plan scheme as it will give you more returns than the bank. It will serve the purpose of your investment.
NBFC (Non-Banking Finance Company) provides an investment in an FD plan which is highly beneficial as it offers ample of other benefits as well. Some of the benefits are as follows:
Online Application Process: In this era when everything is going online why not the FD plan? To save time and make it a hassle-free process many companies are offering online service of applying for a fixed deposit account online.
Online Account Management: Not only the process of applying is shifted to the web but also the account management. All the NBFCs are providing this service of managing your accounts online to keep track of the investment.
A Higher Return on your Investment: As mentioned above a company’s FD has a higher rate of return compared to the bank. Standard citizens get a guaranteed interest rate of 8.75% on their FD’s which is far better and higher than the one offered by the banks. For senior citizens, the rate of interest increases to 9.10%. Banks provide as much as 4-5% rate of interest for the savings that you have in the savings bank account and bank’s FD.
Get the Benefits of Higher Credibility and Stability: With the company’s FD your investment is totally safe and never at risk as it offers CRISIl’s FAAA and ICRA’s MAA stable ratings. You can invest some amount today and be tension-free for the whole of your life.
Your Investments are Guaranteed: Company’s FD is independent of the market condition that is you will receive the promised amount no matter what is the condition of the market unlike the stocks, mutual funds and many more that fluctuate with market conditions.
Flexible Tenor Options: Apart from the benefits mentioned above a company’s FD plan also offers flexible tenors. Usually, the tenor range is between 7 days and 10 years. To help you in matching your financial needs this range is kept flexible. It also enables you to close your current FD and start a fresh one with different amount and tenor if it’s your need.
The Convenience of a Fixed Deposit Calculator: Since it has eased all the other process by processing the application and account management online so is the calculator service. You don’t need to calculate the interest amount manually. With its online service, it provides you the online FD calculator which enables to calculate your interest amount online by just entering the FD amount and the tenor. It displays your interest amount. It is free.
You Don’t Need to Invest a Bomb in a Company’s FD: The most important of all the features is you can invest a small amount as 25,000 or a larger amount there is no pressure of investing high amount when you can’t afford that. Only the difference will be in the maturity amount of interest that is the higher you invest, the higher the amount of interest you will receive.
With these many benefits and other features, it would be wise to invest a reputed company online. If you want an investment with no risk factors involved and a higher rate of interest, then you should go with a fixed deposit plan.
Just apply for a company’s FD and be stress-free from now without wasting any more time.
Read also: Save income tax with fixed deposit