Jump to content
Advertise your business on Top Gold Forum today for as low as $100 per month. Contact us.


  • Content count

  • Points

  • Joined

  • Last visited

  • Points

    0 [ Donate ]

Community Reputation

0 Neutral

About amankhanna

  • Rank
  1. A huge amount of Indian household income rests in banks as deposits. However, in recent years, more and more people are looking forward to investing in NBFCs. Their high interest rates and higher yield offer a lot more to the investors. NBFCs like Bajaj Finserv offer high interest rates (8.10%) on their FD, much higher than any banks or competitors. Fixed deposits are much safer alternatives than any high-risk investment. Not only an FD offers guaranteed return independent of the markets rates, but they also offer higher FD interest rates than any bank. These assured returns with high interest are perfect for people who seek to grow their funds safely. A lot of people relate these schemes with a high-risk investment, yet, these are some of the best policies with the top of the class returns and high ratings from both ICRA and CRISIL. Why should you shift to NBFCs NBFCs offer multiple advantages in comparison to a bank FD, especially in the rate of interest. Fixed deposits are offered in two distinct versions, cumulative and non-cumulative. Each of them is different in how they pay out their FD interest rates. Cumulative fixed deposits compound the interest each year (or every quarter) and return it to the investor after maturity along with the principal. It is a great FD scheme for people who are looking forward to investing their wealth for a much greater return. These schemes are popularly known as money multiplier schemes because of their longer lock-on period, and cumulative addition of interest. Cumulative fixed deposits are ideal for young professionals who do not want access to a monthly fund right away. For instance, if you choose a cumulative scheme in an NBFC at 10% FD interest rates, you will not get anything every month, or year. However, after the tenure ends, that firm will pay you your principal amount with the accumulated interest. Suppose you have an FD of Rs. 1 Lakh, at the end of the first year, you will get back Rs. 1.10 lakhs. In most schemes, cumulative fixed deposits are compounded quarterly. This interest is reinvested with the principal amount over the period of maturity. Generally, this period ranges anywhere from 6 months to 10 years. Companies like Bajaj Finserv offers a flexible tenor period of 12 to 60 months, and offer a market leading 8.10% FD interest rates. You can choose the best cumulative fixed deposit scheme with the help of an FD calculator, calculate the term period, principal amount, and choose the best return for your policies. A non-cumulative fixed deposit pays interest to the investor in quarterly, monthly, or annually. It is perfect for someone who wants a periodic payment. These are more preferred for people who want steady cash flow. People in business and senior citizens prefer this scheme over a cumulative FD. In this case, suppose you put Rs. 1 lakh in a non-cumulative scheme. You as an investor will be paid every year or month, as agreed with the firm. If you receive interest quarterly, you will receive Rs. 2500 over your principal amount. You can decide on the length of the scheme with an FD calculator. Both these schemes offer multiple benefits over a bank, where you will not get such high interest rates. Also, NBFCs offer hiked interest rates for senior citizens. For example, Bajaj Finserv gives an additional 0.35% over their usual rate of 8.10% interest if a senior citizen applies for a fixed deposit with them. Moreover, they offer fixed deposits starting from a minimum of Rs. 25,000 with the assured return and a flexible tenure. Recently, CRISIL and ICRA rated them as FAAA and MAAA for their stability and credibility. A fixed deposit scheme at a Non-Banking Financial Company not only promises you a safe and guaranteed future, but they also provide you multiple advantages over a normal bank account. Their customer-centric services offer you a much homely feeling, and with their high return rates and secure policies, they offer you that extra something banks fail to provide.
  2. Fixed deposits are essential investment avenues, for every investor. However, there are several myths associated with fixed deposits, which may restrict the growth of your funds. Watch this video to bust the 3 common myths, and find out the reality.