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How to Earn Higher Interest Rates on Fixed Deposit
Posted on Thursday, June 2nd, 2022 | By IndusInd Bank
A fixed deposit is a great way of earning assured and fixed returns on your savings. They are safe, let you plan your finances and save for your future goals, and over long periods of time, they help you accumulate considerable amounts of wealth. Whether you are a working individual or are retired, a fixed deposit is an investment option that can help cater to your specific financial goals and needs.
With IndusInd Bank, you can open a fixed deposit account online, earn some of the best-in-class interest rates, and enjoy many other benefits that take you closer to financial independence one step at a time. So, if are looking to open a fixed deposit account, here are 5 reasons why you should opt for IndusInd Bank:
High interest rates
Interest rate is probably the most important factor to consider when deciding which fixed deposit account to open. With a large enough amount, even the slightest change in interest rate can have a big impact on your end gains. Also, as time passes and the effects of compounding start taking effect, the impact of interest rate on your final profits grows exponentially.
So, it is important to park your hard-earned savings in a fixed deposit that offers high interest rates. With IndusInd Bank, you get just that. IndusInd Bank offers some of the highest fixed deposit interest rates in the market so that your savings not only stay safe, but also grow at a considerable pace.
Hassle-free Instant booking
When starting something new, taking that first step is always the hardest. That is why at IndusInd Bank, we have made it really simple for anyone and everyone to open a fixed deposit completely online. All it takes is your PAN and Aadhar card, and your account will be up and running in no time.
Auto-renewal option
Auto-renewal option is the option to automatically renew your fixed deposit when it matures. This option is very useful if you have no use for your funds when your fixed deposit matures. This way you make sure that your savings remain intact and they keep on earning a high interest rate.
With IndusInd Bank, it is your choice whether you want to opt for this option or not. If you have use for your funds and would like to withdraw them at the end of the FD’s term, you can simply opt out of this option.
Multiple options for interest payments
With IndusInd Bank, you also get to choose the frequency at which you get paid the interest for your deposited amount. Choose from monthly, quarterly, half-yearly, yearly or at maturity interest payments depending on your specific needs.
Tax saver FD
Did you know that you can taxes while saving money in your IndusInd Bank FD? If you opt for a fixed deposit with tenures greater than 5 years, annual contributions to the FD are tax deductible under Section 80C of the Income tax up to a maximum amount of 1.5 lakh per annum. So you not only end up earning interest on your money, but also end up saving taxes.
Parting words
So when it comes to fixed deposits, don’t settle! A fixed deposit account is an essential part of retirement planning and wealth planning for most people and that is why, IndusInd Bank offers best-in-class features on its fixed deposits.
Open a fixed deposit account with us today and enjoy a valuable banking experience. Visit our website for more info right here.
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.
