diwali-finance-gifts

This Diwali Be Thoughtful and Gift Something Beyond Crackers

 

India is well-known for its vibrant and colorful culture, which is especially apparent during festivals. Diwali is one of the most revered festivals where the entire country lights up with multicolored diyas, cracker noises, gorgeous attires, enticing variety of sweets, and much more. It is believed that Diwali is a festival of light, thus bringing light into people’s lives.

Every year, you gift new dresses, sweets, crackers and much more to your near and dear ones. Why not celebrate this Diwali in a unique and secured way? Gift your loved ones something that would be useful not just for the festival but also for their future. You can secure the future of your close ones to aid them during their vulnerable situations with a fixed deposit.

Why Fixed Deposits?

Among all other investment options, fixed deposit scheme is the most preferred one in India due to the attractive benefits. FD helps you earn considerable returns for the times when you cannot collect enough funds. You can build up your wealth with an FD for your retirement, for buying an asset, for your children’s education, for weddings, or for any event demanding a lump sum of money.

Smart Ways to Invest in FD

 

Thorough Research

Before zeroing into one fixed deposit scheme, make a thorough research on various financial providers. It must be based on the interest rates offered by the company, the flexibility of the tenor, the flexibility in interest payouts, and the credibility of the company based on its accreditation.  Also, check for the availability to avail loan against your FD in case of emergencies.

Tenor Selection

You must select the tenor of your FD wisely. If you wish for stable returns, you can opt for short-term tenors. If you do not require the returns for a long period, you can choose long-term tenors. Premature withdrawals charge you some penalties and may not offer all the benefits of the scheme. To avoid this, you can ladder your fixed deposits.

Laddering

Laddering of fixed deposits helps you maintain liquidity. For this, you need to divide your investment sum among multiple FDs with different tenors. You can invest in multiple FDs at the same time with different tenors. Laddering helps in reducing the fluctuations in interest rates, maintain liquidity, avoid premature withdrawal, and get the maximum benefits by the power of compounding.

Choosing Cumulative FD

With cumulative FD, you get the interest rates altogether at the end of the tenor. If you opt for non-cumulative FD, you will get the interest payout at a decided interval on a monthly, quarterly, or yearly basis. Cumulative FD attracts more interest and added benefits compared to non-cumulative FD. You can ladder your investments for liquidity and make a part of your investment in cumulative FD.

Investing in an NBFC

The Non-Banking Financial Companies (NBFCs) offer higher interest rates on fixed deposits compared to the traditional banks. Additionally, they provide added benefits like high-interest rates for senior citizens, high stability, and fixed returns.

NBFCs in India offering the highest interest rates, compared to other banking and non-banking financial providers. These FD interest rates depend on the tenor of the FD and the amount deposited. The minimum deposit for this NBFC is just Rs. 25,000. 

The Gift of Security

Diwali is the time when you bestow your family and friends with precious gifts. No gift can match the gift of financial security for your family. With the scaling uncertainties of life, prepare your family for such financial risks with fixed deposits. With the easy and quick online application, your FD is just a few clicks away. You can also calculate the interest rates and returns for your FD using the fixed deposit interest calculator.

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