3 Tips On Properly Invest In Fixed Deposits with High Interest – Indian Money Reviews
Want to invest in fixed deposits that provide high interest?
Read the following tips in this Indian Money review
to know more how you can do so.
7 Tips On How To Invest In High Interest Fixed Deposits
Shop around
According to Indian Money company reviews,
as a consumer you must carefully compare and evaluate the rate of interest
offered by different banks. Consider all the options available in the market
and find out which bank pays good interest and other suitable terms and
conditions that would meet your requirements.
Split your money
In case you have surplus money which is above Rs 1 Lakh,
then you must utilize this money to invest in more than one FD. As per IndianMoney.com Review, it is always advantageous to split your money and
invest in two or more FDs with different tenure, rather than inventing the
entire sum in a single fixed deposit. This will help you withdraw one of
the FDs, in case of an emergency, instead of breaking the entire deposit.
Maintaining separate FDs across maturities helps you get
money at different points in time, to manage small expenses or big ticket
purchases. Spreading your investment across several banks controls the penalties
incurred in case of premature withdrawal.
Opt for multiple FD accounts-with different tenures
The interest the bank pays on your fixed deposit varies
according to size and tenure of the deposit. You must be familiar that interest
on fixed deposits fluctuates from time to time and to maximize returns, you can
opt for FDs across maturity periods.
According to IndianMoney CEO C. S. Sudheer review,
invest in an FD where the maturity period is a year and in another FD, with
long term maturity of three to five years. You can reinvest your FD after
maturity, as the interest rate changes over the period.
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