Days are gone when only a few options were available for making an investment. Today, there are a number of options available in a variety of sectors such as stocks and shares, monthly income schemes, National Pension Schemes, SIP, mutual funds, real estate and what not! Despite being a lot of options available, there are people in minds of whom fixed deposits will come first if they are asked about the safest and almost zero-risk option to invest.
Why? Because fixed deposits have shown a lot of benefits to the investors! An FD is one of the most-preferred investment options and the all-time favourite among people. But in this blog, we present you two smart ways with which your FDs will earn you more in addition to the great fixed deposit interest rates.
1) Research always pays off!
How much interest would an FD earn you? That depends on a lot of factors- nature of the FD, its tenure, the rate of interest and the amount to be deposited. So once you decide to invest in an FD, you need to do a good research in order to find out the best scheme of a fixed deposit. Find out which credit co-operative society offers you higher fixed deposit interest rate for shorter tenure. We, at Adarsh credit, offer a high fixed deposit interest rate of up to 10% depending upon the tenure. So, you may consider an FD by Adarsh Credit.
2) Consider reinvesting your FD
On maturity of any fixed deposit, there remain two options on your hands. The first option is to withdraw the maturity amount and block it in one of your major expenses. Secondly, you may reinvest the maturity amount further in another FD or anywhere you wish to. Unless there is a requirement, you may always go for the second option. You wouldn’t realise and the deposited amount will be multiplied by many times in just a few years. This is the wisest option to double or triple your savings. If there isn’t any urgent need or expense, reinvesting the maturity amount is always a very good option.
So keep these two points in mind and start making the most out of your fixed deposits. Cheers!
PS: We have also introduced short-term FDs under which you can invest your money for a short tenure of 3, 6 or 9 months and get high returns. To know more, enquire now.