Finance Care in India - Credit Card, Credit Score, Fixed Deposits

Fixed deposits are one of the best avenues to invest if you have idle funds at your disposal. They let you earn higher returns on investment as compared to savings or current account. However, before you plan to invest in these schemes, you should be aware of how can you maximize your returns on fixed deposits, which is discussed above in the article. The points which you need to consider to maximize your returns are; first, you need to cross-check and compare the rate of interest across NBFCs and financial institutions to get the best deal on your deposits. Secondly, place a deposit in the name of your parents as it would let you earn higher returns of up to 0.50%, which is more than which is offered on the regular FDs to non-senior citizens. So, opening an FD with your parents would be a wiser decision to have additional benefits on your investment. Thirdly, opt for cumulative fixed deposits as compared to non-cumulative fixed deposits to get the benefits of compounding over time....

A fixed deposit is one of the instruments that have been used for very long. They are useful because they ensure capital protection. A fixed deposit is an instrument where a person puts a lump sum amount for a particular period and earns a fixed rate of interest. A term deposit is also used for a fixed deposit because the money is parked by the individual for a given tenure. Fixed deposits are safe because they give stable returns. Fixed deposits come with fixed rates of interest. Based on key lending rates, fixed deposits are revised from time to time. Bank of Baroda offers the highest fd rates in India, given its pedigree and security. Financial instruments are often dependent on market movements, and because of this, they can sometimes be volatile. Fixed deposits, on the other hand, provide secure returns. The return on investment is based upon the tenure and rate of interest of the fixed deposit. Short term fixed deposit gives the individual more liquidity. Bank of Baroda provi...