Fixed deposit is a smart form of investment. It is a safe and secure platform where you can invest money and earn monthly income accordingly. Now the question arises that emergency can knock the door anytime and anywhere so, if you need your invested money then penalty will be imposed on you. So, to avoid those penalty here i am telling you the smart ways in brief:
Go for laddering: This is the best way especially when we are living in the era of financial uncertainty. In this you can invest in multiple FD accounts with incremental maturity tenures.
Go for the loan: Think before premature withdrawal and go for a loan there are many institutes that offer loans of fixed deposit amounts. With this you can avoid penalty also you will get the loan amount that you can use in an emergency. PNB Housing Finance Ltd. offers the best fd rates and also offers loans at low rates of interest.
Invest in short tenor: Fixed deposit is one of the best options for investment but to avoid penalty you should go for short tenor investment as you can withdraw your money after a few months that will be more helpful and you will get interest on a monthly basis.
Considered Sweep In: It is the best FD scheme for the investor in this automatically some of the amount converted into Fixed Deposit.
Also Read : Fixed deposits may work better than debt funds
