Fixed Deposits (FDs) stand out as one of the safest investment options available, offering a reliable avenue for individuals seeking stability and low risk. With an array of investment choices in the market, it’s easy for investors, especially women, to feel overwhelmed. Notably, 58% of women prefer to invest in FDs, Public Provident Funds (PPF), or savings accounts, recognizing the unique financial goals, liquidity needs, and investment capabilities they possess.
Choosing fixed deposits provides women the flexibility to customize payouts to align with their financial requirements. Additionally, FDs often offer more attractive interest rates compared to standard savings accounts. Shriram Fixed Deposit, for instance, boasts high-interest rates of up to 9.20%* p.a., inclusive of a special interest benefit for women depositors and senior citizens. The Shriram Fixed Deposit Interest Calculator aids in determining the exact interest amount.
FDs are deemed a smart investment due to their high degree of safety and low risk. The term “fixed deposit” itself reflects the assurance of a predetermined return, irrespective of market fluctuations. This makes FDs a secure investment option compared to stocks and mutual funds, as they lack growth-related risks.
Two main types of FDs exist: cumulative and non-cumulative. Cumulative FDs accrue interest till maturity, with compounding effects, while non-cumulative FDs offer regular interest payouts based on chosen intervals.
Comparing FDs to National Savings Certificate (NSC), FDs are favored for their high liquidity, allowing for premature withdrawal in emergencies, albeit with nominal charges.
The Rule 72 provides a simple method to estimate when an invested amount doubles. Dividing 72 by the annual interest rate yields the time in years for the investment to double.
FDs outshine other investments for several reasons:
- Fixed interest rates shield returns from market fluctuations.
- High liquidity allows for timely fund withdrawals.
- Tax benefits and insurance coverage enhance the appeal of FDs.
- Tax-saver FDs, with a 5-year lock-in period, offer deductions under Section 80C of the Income Tax Act.
- FDs offer the flexibility of obtaining loans during financial emergencies.
Shriram Fixed Deposit for women emerges as a compelling choice, offering higher interest rates, flexible investment tenures, low minimum investment, and options for regular or cumulative interest payments. The scheme also provides a loan facility at attractive interest rates, ensuring accessibility and convenience for women investors. Shriram Finance’s reputable standing as a non-banking financial company (NBFC) further enhances the trustworthiness of their FD schemes.
In conclusion, Shriram Fixed Deposits for women present a secure and lucrative investment opportunity. With competitive interest rates, flexible tenures, and additional benefits, these FDs prove to be a prudent choice for women aiming for steady returns while minimizing risk.
