7 Key Advantages of Fixed Deposits Offered by Large Corporate Houses

 Investing in FD from large corporate houses can be a secure and profitable option for anyone looking to grow their savings. Unlike banks, non-banking financial companies offer unique benefits that can cater to a wide range of financial needs, including lifestyle loans and second-hand car loans. Here are seven key advantages of choosing FD from large corporate houses.

Higher Interest Rates

Non-banking financial companies often offer higher interest rates on FD from large corporate houses compared to traditional banks. This means your investment grows faster, allowing you to reap greater benefits in a shorter period.

Flexible Tenures

With FD from large corporate houses, you have the flexibility to choose a tenure that suits your financial plan. Whether it's short-term goals or long-term savings, these fixed deposits cater to all.

Loan Facilities

Investing in an FD from large corporate houses gives you access to loan facilities like second-hand car loans or lifestyle loans. You can secure a loan against your FD quickly and with minimal paperwork, making it easier to manage sudden financial needs.

Safety and Security

Large corporate houses are renowned for their stability and reliability. When you choose an FD from large corporate houses, you're investing in a safe financial instrument that promises fixed returns without any risk of loss.

Compounded Interest

One of the most compelling reasons to choose FD from large corporate houses through non-banking financial companies is the option for compounded interest. This means that your interest earnings are reinvested to generate additional income, which accelerates the growth of your investment.

Ease of Investment

Non-banking financial companies streamline the process of investing in FD from large corporate houses. With user-friendly online platforms, you can start your FD without needing to visit a branch, making it a convenient option for everyone.

Attractive for Senior Citizens

For senior citizens, FD from large corporate houses often come with additional benefits such as higher interest rates. This makes them an excellent choice for retirees looking to maximize their post-retirement earnings.

FAQs

Q1: Can I break my FD from large corporate houses before maturity?

A1: Yes, you can break your FD from large corporate houses, but it usually comes with a penalty. However, the exact terms depend on the policies of the non-banking financial company you choose.

Q2: Are there any tax benefits to investing in FD from large corporate houses?

A2: Typically, FD from large corporate houses do not offer direct tax benefits; however, the interest earned is added to your income and taxed according to your income slab. It's important to consider this when calculating the net benefits of your investment.

By investing in FD from large corporate houses through non-banking financial companies, not only do you enjoy higher returns, but you also benefit from flexibility, security, and ease of investment. Whether you're planning to fund a second-hand car loan or manage your retirement savings, these fixed deposits are a robust financial tool that can help meet various financial goals.