Fixed Deposits Are Your Way to Hassle Free Savings

  • Added:
    Jan 08, 2014
  • Article Views:
    1114
  • Word Count:
    418
Fixed Deposits Are Your Way to Hassle Free Savings Photo by Aishwarya Mahurkar

Even when we keep our money in our savings account, there are times when we are helpless and are tempted to withdraw it for some reason or the other. Saving our hard-earned income is a feat that all of us have to manage. We promise ourselves each time that the next month is going to be better and we’ll be more careful with our funds then; however, keeping that promise can become quite a task. It’s at such times that a fixed deposit can be the perfect solution. By depositing your money into an account from which it cannot be withdrawn for a certain amount of time, you can ensure that your savings remain untouched. One of the primary benefits of such a scheme is that it allows you to also earn a substantial interest on your funds. This means that you not only save money but also earn returns on it.

Fixed deposit accounts  will definitely promise you a certain amount of earnings, no matter which scheme you choose, how much you invest or for how long. That’s the reason many people who wish to invest their funds choose this option as it’s risk-free and definitive. Unlike other investment schemes, where you just don’t know how lucky you will get or how your returns will turn out to be, with a fixed deposit all those queries are answered beforehand.

Another benefit of a fixed deposit  is that while you cannot immediately withdraw the deposited amount, you can definitely withdraw the quarterly interest you earn on that amount. Depending on how much you’ve deposited and what scheme you’ve chosen, the interest rate you earn will differ. This in turn will decide how much you can get every three months.

One needs to bear in mind that even though there are always assured returns, it’s still advisable to look around and evaluate all the available options. Some might offer you more benefits than the others and it’s much easier to find the best plan when you browse through several options.

Once you’ve deposited your money in this kind of an account, you have no other concerns to take care of. Just sit back and let your money grow over a period of time without worrying about how much you’re going to make, or if you’re going to incur any losses or whether it’s the best form of investment. A fixed deposit ensures that all these hassles are null and void. When you choose a FD, you choose a safe, secure and sure investment.

Author's Profile

An experienced writer on finance topics, the author articulates of investment choices such as Fixed deposit accounts & recurring deposit schemes. She writes about a variety of topics including the benefits of recurring & benefit of a fixed deposit and how to make the right investment choice.


Please Rate this Article
Poor Excellent