If you are a risk-averse investor and consider FD as a good investment, then finding the best FD scheme is very important. Factors like interest rate, tenure, interest income after tax deduction and interest compounding frequency play a pivotal role in determining the amount of return you are likely to receive as an investor. Generally, banks and NBFCs provide a safe haven for investors to deposit their money and earn good returns. However, as an investor it is a must to do your research and make some comparisons before investing your hard earned money in fixed deposits. This article helps pick the best fixed deposits at banks and NBFCs.
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Listed below are some of the factors that must be considered for choosing the best fixed deposit:
See ALso: Types of Fixed Deposits
FD is one of the most popular investments for millions of Indians. Bank fixed deposits offers capital protection, timely interest payouts, safety on investment and higher returns. People prefer to invest in bank FDs as they are directly monitored and regulated by the RBI. You also have the Deposit Insurance and Credit Guarantee Corporation (DICGC), which insures bank deposits like savings, fixed deposits and recurring deposits. The rates of interest differ across banks. Bank fixed deposits have zero risk and the FD can be used as a collateral to avail loans at lower interest rates.
See Also: Know Fixed Deposits
See Also: Fixed Deposit Interest Rate
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