Pune: Fixed Deposits, also known as term deposits, is the name given to the sum of money that is deposited with a financial institution for a set period bearing a given rate of interest. In India, fixed deposits are one of the most popular modes of investment; wherein many people prefer to park their savings to earn assured returns.
When to Start Investing in Fixed Deposits?
There is no direct answer to this question as it depends on one's financial strength and perspective towards investment. But experts at always recommend that you should invest a part of your savings in FD as soon as you start working.
This way you can start small, develop your portfolio gradually without affecting your present financial requirements. Starting small will help you diversify the investment portfolio progressively and help to create a corpus for future needs. Bajaj Finance Ltd., the lending and investment arm of Bajaj Finserv allows you to invest in Fixed deposit with an amount as low as Rs. 25000.
Why invest with Bajaj Finance Ltd.?
Investing in Fixed Deposits with Bajaj Finance Ltd will help you earn the highest rate of returns at 8.10 percent on cumulative fixed deposit with an additional 0.25 percent renewal benefit. With ICRA's MAAA (Stable) Rating and CRISIL's FAAA/Stable Rating, Bajaj Finance Ltd., has been deemed with the highest degree of safety with regards to timely payment of interest and principal on the instrument.
How to maximize your earnings from Fixed Deposits?
Let's understand the various techniques which will help you maximize your earnings from Fixed Deposits (FDs) when you start young:
• Invest in Company Deposits: Company deposits such as Fixed Deposits by Bajaj Finance Ltd offer a higher FD Interest Rates as compared other financial institutions. You must consider investing in company deposits with a stable rating from credit rating agencies.
• Never break the FDs: Breaking FD not only causes a loss of interest but also throw your planning into disarray. Instead, go for a Loan against FD for meeting any financial emergency
• Invest in Cumulative FDs: One should always opt for cumulative FD's as you do not need supplemental monthly income at a young age.
Though it might seem straightforward, investing in fixed deposits also requires some planning on your part to make sure that your money grows gradually over time.