As mentioned above, you can earn higher returns by investing in NBFC’s fixed deposit in comparison to bank’s FD. Apart from high returns, you can also gain from various schemes and facilities offered by an NBFC. Many-a-times, people consider NBFCs less trustworthy, which is not true as they are equally reliable and safe as banks. Many NBFCs are awarded ICRA’s MAAA rating and CRISIL’s FAAA rating which means, they are reliable as well as safe to invest in.
Facilities offered by Company Fixed Deposits:
The company’s fixed deposits allow you to access your FD online. Wherein, you can apply for the fixed deposit online as the process is quite fast and time-saving. As the application process is online, instead of visiting the NBFCs in person you can get it done easily from anywhere.
As said earlier, interest rate plays an important role in the process of investment. And thus, it gets crucial to know what returns you will be earning over it. Using an online fixed deposit calculator can help you calculate the interest you will be earning. You can visit the website of your lender and calculate the returns depending on: The invested amount, interest rate and tenure.
- Senior citizen fixed deposits:
If you are a senior citizen, then you don’t have to worry about the repo rate cut down, as you can still benefit with higher returns than normal fixed deposit investors. A senior citizen can earn higher interest rates than usual investors by investing their pension funds in senior citizen fixed deposits.
Even though the interest rates have dropped down, you can still earn higher returns on an FD investment by investing in company’s fixed deposit as well as can gain from various schemes and facilities offered by them.