Company fixed deposit or ones offered by NBFCs and bank fixed deposit both have their own pros and cons. Let’s shed some light on them to help you make an informed choice. Ease of Booking Company fixed deposit of NBFC can be easily booked online from anywhere at anytime. The process requires minimum documentation. Using just your login credentials you can easily manage your deposit online without having to depend on lender’s representative. You may even renew it or opt for premature withdrawal via the quick and easy online portal. Easy Liquidity As mentioned earlier company deposits can be withdrawn easily online before their maturity date. The flexible tenure chosen is between 12-60 months within which the withdrawal decisions can be made. NBFC like Bajaj Finance offers special rates on tenure of 15 months, on a minimum deposit of Rs. 1,00,000 starting from 7.85% onwards. Use online FD calculator for calculating the returns of your deposit money. Ease of Diversification
Company deposits give the investor to choose between cumulative and non-cumulative deposits. Cumulative is one which provides interest at the end of the tenure while non-cumulative provides interest at monthly, quarterly, half-yearly and annual intervals to help you meet your financial needs. Assured Returns You can make considerable returns on your fixed deposit in companies like NBFCs which offer higher interest rates on FD starting from 8.40%. Moreover, you may earn top-up interest of 0.25% on base rate upon renewal. Besides, schemes like senior citizen let you earn 0.35% higher interest on base rate too.
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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
August 2022
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