Common Things to keep in Mind while investing in a Fixed Deposit

Most often, people are attracted by fixed deposits. The high power of giving returns,
flexible tenure, high fd rates and flexibility makes it an attractive option. 
Let us look at some of the points to keep in mind while investing in a fixed deposit
  • Having a mixed portfolio
  • Choosing the plan as per your goals and roles
  • Maintaining a proper record
  • Timely payment
  • Research about the market, self-study. Also, we note to take into consideration the rate of inflation. 
  • Don't break your fd before time
  • Insurance of your fd policy 
As a result, at last, we can conclude that opening and having an fd account is very important, provided we follow all the steps. 

Continue Reading : What Mistakes Should You Avoid While Investing In Fixed Deposit?

Comments

Post a Comment

Popular posts from this blog

Get all set for your retirement plans | Invest in a secure Fixed Deposit @Myloancare

Image
Peaceful and relaxed retirement life is a dream of most people. To achieve the best retirement life, ideally, you would like to finish your career at a sharp point. For retirement, the Fixed deposit is one of the great investment options, especially in the 60s due to the high rate of interest available for senior citizens. 4 things that you need to keep in mind when you are retiring are: 1. Make Catch-up Contribution : After retirement, you will no longer be able to contribute to your retirement account. Thus, make sure you make some extra contribution to your retirement account, especially during the last few years. 2. Calculate Social Security Benefit: Along with your retirement account, you will also have social security benefits. So, assess the amount you will receive from there and analyze whether the combined amount of your retirement account and s...
Read more

Learn major facts related to FD

Image
An FD is an ideal means of investment to enable one’s financial security. However, people often fail to understand its importance and its correct use, especially at the time of financial distress. In times of the credit crunch, many people will tend to break their FDs to generate funds, though this is not a wise decision to manage one’s financial crisis.  Many people are not aware of the fact that an FD can be used to take a loan. This is a convenient and feasible option that provides a variety of benefits. These are listed below: Amount of loan: The loan sanctioned against an FD is granted on 70%-95% of the Fixed deposit’s value. Thus, the loan can be quickly paid off.  Interest rate and processing fees: The interest rate and processing fees charged against a loan on FD are comparatively less because the borrower is already a customer of the Bank.  Tenure: Unlike other loans, there is no fixed tenure imposed...
Read more

Ways by which we can improve our retirement planning

Image
Retirement is such a period that involves proper planning. The people are often perplexed and juggling between savings or enrolling in an insurance plan.  Proper planning always helps Knowing yourself is essential. Be honest with yourself. It would help if you asked yourselves questions. What kind of life do I want to build post-retirement? How much Income would I need?  In the case of a salaried class or working professionals, don't forget to take the benefit of the company policy of retirement planning.  Keeping in mind the inflation rate is very important. So, we need to keep in mind and plan a strategy accordingly. Having a diverse investment portfolio is a good option. Having an fd, rd, and a five-year plan at the same time can be worthy. Introducing a habit of savings from a young age can be a useful habit. Ulip Plans: The safe and secure form of investment without much risk. The best part of that it involves the use of equity. Equity funds do ...
Read more