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What makes Fixed Deposits one of the safest investment options?

By Finserv MARKETS - Aug 28,2019
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One of the primary reasons why people invest money is to have it safe and secure, to have the returns maximised. A survey conducted by the Securities and Exchange Board of India (SEBI) stated that over 95 percent of Indian households have deposit accounts. Along the same lines, another study revealed that investment options like fixed deposits are quite popular with millennials.

The best thing about investing in a fixed deposit account is that you do not have to compromise on the return factor. With returns as high as 8.95 percent on Finserv MARKETS, fixed deposits, indeed, and turned out to be a popular income growth instrument.

What makes Fixed Deposits one of the safest investment options?
Let us look at some of the features of FDs that make it a safe and sound investment option.

High credibility

One of the best ways that you can thoroughly analyse an investment option is by looking at its credit rating. Fixed deposits on Finserv MARKETS carry MAAA rating by ICRA and FAAA rating by CRISIL, which means that your investment is in safe hands. With the highest grade of credibility, it is ensured that you get timely returns on your finances and that the issuer never defaults.

Higher returns for senior citizens

Retired senior citizens can look at fixed deposits as a viable investment option as they yield even higher returns for them without compromising on the safety factor. Fixed deposits for senior citizens on Finserv MARKETS guarantee an interest rate of 8.95 percent if the FD is purchased for three years and is scheduled to payout at the time of maturity.

More options and a hassle-free process

There are multiple payout options for fixed deposit accounts. You can choose between receiving payouts monthly, quarterly, bi-annually, or annually — all of it depending on how and when you need your money. Since FDs have a high liquid value, they can be converted into instant cash.

The process of getting an FD account opened on Finserv MARKETS is quite easy and hassle-free. All you have to do is plan your investment using the FD calculator, fill out a form and select the type of FD you want to open, submit a few basic documents for KYC, and make the payment.

With investments as low as Rs 25,000, you can open an FD account right away.

A great place to store emergency funds

We all need an emergency fund to meet the mishaps that may come at bay. It is best if we can accumulate good interest in that part of our savings and not just have locked up in a bank account. FDs are a great way to save your emergency funds as it is easier to access them; on Finserv MARKETS, it is just a few clicks away.

If you, at large, have a low appetite for risk, then a fixed deposit is your best option. With money in, you can be assured that they will accumulate interest and grow over a period without the involvement of any risk.

Besides, fixed deposits are good tax-saving instruments as well. If you have invested in a fixed savings account, then you are eligible for tax exemption under Section 80C of the IT Act.

What to look for in while opening an FD

With so many choices around, it is essential that we look at an option which stands out from others, and offers a higher rate of interests, among other features. Some of the key elements that you should look at before investing in fixed deposits are:

  • The interest rate provided
  • Type of interest (floating rate or fixed rate)
  • Compounding frequency
  • Payout method
  • Withdrawal and sweep facilities
  • Other attached benefits.

 

Conclusion

With no risks and the numerous benefits that can be accessed quickly, it is an excellent financial choice to add fixed deposit accounts to your investment portfolio. It is easy to open one on Finserv MARKETS. All you have to do is choose the type of account, provide a few details for KYC, and deposit the money to activate the account. That done, you have the option to track your FD returns anytime and anywhere with just a few taps. The minimum deposit amount stands at Rs 25,000, and the tenure for the schemes range between one to five years.

 

Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. We understand that every individual is different and thus when you plan to achieve your life goals or shop for the gadget of your dreams, we believe in helping you Make it Happen in a few simple clicks. Simple and fast loan application processes, seamless, hassle-free claim-settlements, no cost EMIs, 4 hours product delivery and numerous other benefits. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522