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There is no shortcut on the road that leads to financial freedom. The only way to achieve financial freedom is by walking the miles on the coarse road. A simple investment strategy like investing in multiple FDs can liberate you financially faster than what you anticipated. Besides investing in Fixed Deposits, there are a few more things you need to do:  Besides investing in Fixed Deposits, there are a few more things you need to do: Invest in your Health: “Health investment is the best investment” whether you agree or not, it is true. Staying healthy gives you the mental and physical strength that an individual requires to indulge in activities through which they can gain monetary benefits. Plus, if you analyze the cost of living chart carefully, you’ll realize that medical expenses can put a hole in your pocket and deplete a large portion of your savings. So, it’s better to secure your health with a medical insurance when your health status is on the bright side. 
 Follow the Mantra: SAVE, SAVE, and SAVE: “Work like a slave today and live like a king tomorrow.” In order to achieve something as difficult as financial freedom, you have to make numerous sacrifices. Drop frequent travel plans, cut down your unnecessary expenses, live a very simple life to save as much as you can; and invest as little or as huge as possible in high-interest income schemes like FD. Invest whatever you save every month in fixed deposits (FDs) for a safe and profitable investment.
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When it comes to saving for retirement, no matter how well your anticipation skills are, you can never predict the right amount you should save for a comfortable retirement. So, don’t leave anything to chance, do some market research, consult people who were in the same place a few decades ago, and make an exceptional retirement savings plan. Plus, add these tried and tested traditional retirement savings key pointers to keep it perfect. 
 Planning for tomorrow begins today. If you want a comfortable retirement, you have to start planning today where you can invest surplus fund for getting high returns.
Fixed deposit is like the God father of investments. You know you can trust FD with your money without a doubt in your head: No risk on investment, moderate returns, and available for almost everyone ready to invest. But, even the Godfather of investments can’t help you get better returns if you aren’t investing in the right place. NBFCs offer higher interest rates on FD compared to banks, and that’s where you need to invest.  Apart from higher returns, there are few more influencing reasons to invest with NBFC’s, read them here: Higher Interest Rate: It isn’t hidden any more than NBFCs offer higher interest on FD investment compared to public and commercial banks. Some NBFCs even offer interest rate up to 8% p.a. The interest rate can be higher if you are in senior citizen category.  Flexible Tenor: Tenor flexibility is one major reason why NBFCs are better than public sector banks for FD investments. As an investor, you get to choose the maturity period of your investment, which can be in between 11 months to 60 months. Higher Security: Most of the NBFCs are regulated by National and International regulatory bodies like ICRA and CRISIL which categorize them as safe or unsafe for investment. Renowned NBFC's like Bajaj Finserv, Tata Capital have ICRA’s MAAA and CRISIL’s FAAA ratings, which signify the highest level of safety any NBFC can offer. Better Customer Services: It is a well-known fact that commercial banks and financial institutions offer better customer services to keep their customers happy. Services like online application, doorstep customer services, and online account management make your life more convenient. Read How Fixed Deposit the Best Investment Plan? With half of the total investors opting for FD and the other half going with equity, there is a big confusion for every new investor. They always have this question: FD or equity investment, which is better? If you have the common question, here is the answer.  Return on investment: FDs offer interest gains up to 8% on investment, and the best part- the interest gain is 100 percent assured. Whereas investing in equities can get you up to 12% gains, but it’s more like gambling. If your luck fails to play by your side, you don’t even get back what you invested.  Tenor flexibility: Every investment requires time to ensure a decent growth and a decent profit. In case of equities, the investment period can test your patience, whereas, you can invest for a minimum of 60 days and earn interest gains. Liquidity: Equities are known for higher liquidity which means you can withdraw money whenever you want. FDs are also good in terms of liquidity, but premature closure is charged with a penalty.  Market fluctuation effect: FDs remain unaffected by market fluctuations and you get the assured sum upon maturity, FD is the best option for start investing. On the other hand, with equities, you can lose a significant amount of money even with slightest market fluctuations.
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  About Author:Aman is working in the domain of Investment management in one of the top universities. He has published research papers and case studies in Investment and Fixed Deposit marketplace. He is an avid blogger in the domain of Investment management. you can also find him on social networking platforms. Archives
March 2019
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