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Top 5 reasons to open a bank fixed deposit
Posted on Thursday, January 5th, 2023 | By IndusInd Bank
There are several investment products in the market that can offer higher returns on your money. Given the uncertain times we live in, a fixed deposit is considered as the safest and the most reliable investment option. Over the years, fixed deposit has been the default investment option for Indian families. It has earned investors’ trust because it offers predictable and assured returns. The interest rate that we offer on fixed deposit makes IndusInd Bank fixed Deposit an ideal choice for you to make the most of your savings. Not just that, IndusInd Bank also gives competitive interest rates on its Savings Account. Therefore, it is crucial to understand the core benefits of starting a fixed deposit in the current economic situation.
Here, we will explain why fixed deposits are so popular.
Advantages of Fixed Deposits
If you are wondering how FD is better than any other investment option, take a look at these 5 reasons as to why you should start a fixed deposit: –
1. Guaranteed returns: As mentioned earlier, the returns on your fixed deposits are not affected by market fluctuations. The interest rate on your fixed deposit is fixed. You will continue to earn the fixed interest amount and your investment will stay safe. Further, fixed deposit accounts in banks are backed by DICGC – a subsidiary of the RBI. It insures your deposit of up to Rs. 5 lakhs. This means your FD will be safe even if a bank goes into a financial crisis.
2. Simplicity: Unlike stock broking, you do not have to understand or keep track of the trade market to know how your fixed deposit is performing. The simplicity that a fixed deposit offers makes it easy for new and first-time investors like the younger workforce.
3. Tenure flexibility: Fixed deposits offer the flexibility to choose the tenure of your account. You can choose between various long and short-term accounts based on your savings goal. With IndusInd Bank, you can enjoy high interest rates for both long and short-term deposits.
4. Reduced tax liability: The Income Tax Department offers certain deductions to boost the saving and investment sentiment among the general public. If you invest in a tax-saving fixed deposit, you can claim up to Rs. 1.5 lakhs as deductions under Section 80C of the IT Act. Such FDs reduce your tax liability and overall tax-outgo.
5. Loan facility: Based on the terms and conditions of your bank, you can avail a loan against the amount in your fixed deposit account in case of financial emergency.
Open a FD account with IndusInd Bank & get high returns on your savings
If you are looking for a safe, hassle-free investment option which provides greater interest rates, you must open a fixed deposit account with IndusInd Bank. Our rate of interest on fixed deposit is higher when compared with other banks in India.
IndusInd Bank online Fixed Deposit can be opened instantly. Just follow the below 3 simple steps:
Step 1: Click here and verify your mobile number, Aadhar and PAN.
Step 2: Fill up the online application.
Step 3. Pick a fixed deposit type that meets your savings goal
Once you transfer fund online for fixed deposit creation, your online fixed deposit will be created and you will receive a copy of the deposit details.
So, whether you are parent saving for your child’s higher education or a working professional saving for luxury retirement, make it happen with IndusInd Bank. Book an FD Now!
Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.
