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Fixed Deposit

We are promoting HDFC Deposit as FD.

All you need to know about a Fixed Deposit account

Summary: A fixed deposit is a way to save money, and also the best investment instrument in India. Check out what is Fixed Deposit and the features of FD online!

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Not everybody can successfully save money all the time. However, saving money is one of the most important aspects of building wealth. Saving a small portion of your earnings helps you enjoy a quality life. Irish poet and dramatist, Oscar Wilde, once said, “When I was young I used to think that money was the most important thing in life; now that I am old, I know it is.”

People who spend money wisely and develop the habit of saving it could grow wealth exponentially. There are various ways to save money today. A fixed deposit is one, and it is still the most sought-after investment instrument in India.

What is a fixed deposit?


A fixed deposit, also known as an FD, is an investment instrument offered is non-banking financial companies (NBFC) to our customers to help them save money. With an FD account, you can invest a sizeable amount of money at a predetermined rate of interest for a fixed period. At the end of the tenure, you receive the lump sum, along with an interest, which is a good money-saving plan. Banks offers different rates of interest for a fixed deposit account.

You can choose a fixed deposit for a period ranging from minimum 7-14 days to maximum 10 years. This is why an FD is sometimes called a term deposit. When you open a fixed deposit account at a specific interest rate, it is guaranteed, for the rate of interest remains the same, irrespective of any changes, which happen due to market fluctuations.

The interest you earn is either paid at maturity or on periodic basis depending on your choice. You are not allowed to withdraw the money before the maturity. If you want to, you have to pay a penalty.

“Irish poet and dramatist, Oscar Wilde, once said, “When I was young I used to think that money was the most important thing in life; now that I am old, I know it is.”

Features of a Fixed Deposit


To know what a fixed deposit is clearly, you need to know its prime features. Here are the significant ones:

1. Assured Returns


The returns of a fixed deposit are guaranteed. You will get the same return agreed at the time of opening an FD. This is not the case with market-led investments, which offers returns based on the fluctuations of interest rates in the market. You will receive the same interest that was agreed to you, even if the interest rates fall. This makes the fixed deposit more secured than any other investments.

2. Rate of Interest


The interest rate on a fixed deposit varies depending on the term you choose. However, the rate of interest is fixed. If you want to know the current FD interest rates, you can visit the HDFC DEPOSIT website or Click Here.

3. Offers Flexible Tenures


You can choose the tenure from 12 months to 10 years for an FD with the HDFC LTD.

4. Return on Investment


The interest you earn on the fixed deposit depends on the maturity period or tenure of the FD. With a higher tenure, you earn a higher interest. Moreover, the returns you get on your investment depends on whether you opt for receiving the interest periodically or reinvesting the interest, which is called a cumulative FD. You gain the benefit of compounding with this FD.

5. Loan against FD


You can avail a loan against your fixed deposit in case you are in urgent need of funds. This saves you from closing your FD prematurely.

To know more about what is FD, and how to open a fixed deposit account with HDFC DEPOSIT.

If you are a new customer and want to create an FD, you can Click Here to download form to open an FD. You can also reach out to MERA NIVESH DOT COM on 92274 81991 to know more about the FD opening process.

Disclaimer

The contents of this article/info graphic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject HDFC LTD or its affiliates to any licensing or registration requirements. HDFC LTD 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 mentioned. Please consult your financial advisor before making any financial decision.

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