Although several financial instruments are available today, bank fixed deposits are one of the preferred ones, especially for those with a low-risk appetite. That’s also because they offer the guarantee of principal repayments and interest income during the tenure. But if you think there’s absolutely NO risk involved, that’s not true at all. You really need to exercise some caution and consider certain factors before you choose to invest in FD.
Here are some factors you MUST consider when you invest in a Fixed Deposit (FD):
1. Earnings on your investment
When you open an FD account, you are guaranteed capital protection and income certainty. This is a vital consideration when you decide to invest in an FD. In association with IndusInd Bank, Airtel Payments Bank brings you its Fixed Deposit facility. Customers with a Savings Account with Airtel Payments Bank will benefit from an interest rate of up to 6.75% p.a., while senior citizens will receive an additional 0.50% on all FDs.
2. Minimum investment
When you pick your FD, consider the minimum investment factor. Airtel Payments Bank offers deposits from as low as Rs. 500 to up to a maximum of Rs. 1,90,000. Not only this, it offers flexible tenure from 1 year to up to a maximum of 3 years.
3. Easy redemption
When you decide to invest in an FD, make sure to factor in liquidity and the time horizon that go in hand with your financial goals. That’s because you may have to withdraw funds in case of an exigency. However, Airtel Payments Bank has you covered. Customers can reserve several FDs for a set period, such as one, two, or three years. On redemption, the invested amount will be reimbursed back to the associated account within minutes.
4. Ease of access to your investments
With Airtel Payments Bank, you can easily track your investment portfolio in one place. You can check details such as invested amount, the current value of the investment, interest earned along with maturity period. Thus, access to your investment becomes very easy and efficient with real-time notifications. It can help you determine if you are meeting your savings goals.
Go ahead and start your investing journey now with Airtel Payments Bank. Opening a zero-balance Airtel Payments Bank account is possible from the comfort of your home with just a video call that can get completed in a jiffy. Under the suite of advantages, Airtel Payments Bank also provides other smart investment options such as Digi Gold, Mutual Funds, Savings Account with high-interest rates, etc. Additionally, you get the security of Airtel Safe Pay, the safest way to pay. What’s not to love, we say?
So, wait no more and switch to Airtel Payments Bank – the safest digital bank for all your smart investments.