How to Find Best FD Plan to Future Savings?
Your Perfect Fixed Deposit Plan For A Future Of Bliss
All of us are endlessly trying to secure our financial position for a secured future and managing our day-to-day expenses. All this becomes easy if we pick up intelligent ways of investing our financial resources.
The Best Available Fixed Deposit Plans For Future Savings
Following are the three primary modes of fixed deposit investments that offer you the best returns and optimal security.
Bank Fixed Deposits
Fixed deposits are a monetary tool that pays off fixed interest rates till your principal amount matures. The various benefits of bank fixed deposits are:
1.Decent Interest Rate –
The money you put into a fixed deposit account offers lucrative FD interest rates that help achieve good returns. The FD interest rates can vary from 3.50% to 6% per cent.
The money you invest in a bank fixed deposit account benefits you with fixed returns despite the fluctuations in the market scenario.
3.High-Interest Rates for Senior Citizens–
A bank fixed deposit account provides much-needed financial stability to older people to meet their daily needs. The FD interest rates increase by 0.25% to 0.50% for the senior citizens.
Fixed Deposits offer you the option to invest your money in a particular scheme for a fixed period. The period you can invest your money in an FD can vary from 7 days to 10 years.
NBFC Fixed Deposits
If you maintain a fixed deposit account in an NBFC, you will likely incur interest at highly competitive rates. Hence, it is a very profitable mode of investment for one’s future financial security. The advantages of NBFC Fixed Deposits are:
The FD interest rates provided by the NBFCs are generally higher by 1-2%.
2.Personalised Investment Options–
NBFC FDs provide investment choices to suit individual customer’s needs.
You can select from a range of tenures starting from 12 to 60 months and decide the frequency of timely playouts according to your liquidity needs.
Housing Finance FDs
Having a Housing Finance fixed deposit account is a dependable, secure and remunerative investment option that aids the clients with several benefits, such as assured returns.
Some eye-catching benefits of housing finance FDs are:
Investors can gain assured and guaranteed returns from a housing finance fixed deposit. The FD interest rates offered by housing finance companies are usually relatively high. For instance, PNB fixed deposits offer FD interest rates up to a whopping 6.70%.
2.Loan against Fixed Deposits: Having a fixed deposit account with a housing financing company is a secured investment facility and a valuable asset. For instance, PNB Housing Finance allows its client to borrow a loan against their fixed deposit account. PNB HFC enables a borrower to procure a loan up to 90-95% of the net FD amount.
3.Offers A Spectrum of Tenures:
Housing finance companies have a wide range of tenures that you can choose from at your convenience. PNB HFC provides FD schemes with terms of up to 10 years with different FD interest rates.
4.Viable Investment Option–
The investment opportunities in an HFC fixed deposit account is flexible and numerous. For instance, you can open a fixed deposit account with PNB Housing Finance with an amount starting as low as Rs.10,000.
Planning for future financial security can be pretty tricky and ambiguous. Hence, you need to examine all the available options very carefully before starting the ball rolling. Take time to think well about your fixed deposit investment, and your future well-being is assured.