Senior citizen searches to invest his earned money there are multiple investment options like PPF, NPS, NSC, etc, but senior citizens invest in FD why? today I will discuss how the FD is a more trusted and most useful tool for investment.
1. Secured Income
Security is one of the main concerns before investment. FD offer secured investment if you want to check the security of any financial institution then you should check the CRISIL ration of the lenders.
2. High-Interest Rates
One of the most and important reasons to select the FD first is the interest rate. the FD offers the highest interest rate maximum financial institution offers a 7% to 10% interest rate.
3. Cumulative or Non-Cumulative Interest Income
This is one of the most and useful features of FD that you can earn the interest rate monthly basis for your monthly expense.FD offers two types of interest rate one is after tenure and the second one is a monthly basis.
4. Flexible Tenure:
FD has a flexible tenure you can withdraw your FD before maturity. if you do the same you should pay some penalty form of money.
5. Automatic Renewals:
FD offers auto-renewal facility this is the best facility. This service saves you from the trouble of visiting the financial institution.
Conclusion:
These are the top facility that an FD have if you go through with FD then you avail these service.
