Amidst the ongoing Covid-19 pandemic, combating uncertainty is the toughest challenge for investors. In fact, the market crash in 2020 left investors quite worried. If you’ve felt a sense of panic surrounding your investments and are re-assessing your risk appetite, consider investing in fixed deposits (FD). Equity may not seem to be the best option in the face of market volatility, which is why many investors are looking towards this safe instrument.
Why Are Fixed Deposits a Safe Bet?
Fixed deposits are considered to be the safest investment avenue because they offer financial stability and guaranteed returns on investment.
Assured returns irrespective of market conditions
Unlike other investments, fixed deposit returns are not based on market performance. When the stock market crashes or there is depreciation in value, you risk losing money. With an FD, your money grows steadily and without any fluctuations.
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Higher interest rates
A lot of us prefer opening a savings account, which is used as an emergency fund. While opening a savings account is a smart decision but you may not a higher interest rate. So, instead of keeping your money idle, you can opt for a fixed deposit account. Opening a fixed deposit helps you earn interest rates are higher than what you get with a regular savings account. However, they vary according to the type of depositor, amount deposited and tenure of deposit. You will also be able to interlink multiple deposits to your savings account and earn higher rates of interest on the money you deposited.
Easy access to funds
One of the advantages of fixed deposits is that money can be flexibly withdrawn when required before the date of maturity. Besides that, you can opt for partial withdrawal which will enable you to withdraw a part of your money from the fixed deposit amount. You can also close your FD before the completion of the term and receive the outstanding interest for the period it has remained in the bank. This can greatly help during emergencies, like the current pandemic situation.
Opening an FD is not only easy but also instant
The best part – you can open a fixed deposit online from the comfort your home. In fact, you don’t even need to have an existing bank account to open a fixed deposit. You can check your eligibility and submit documents like your identity proof or address proof to get your application processed.
Want to open a fixed deposit online today? Choose IndusInd Bank for flexible tenures, competitive interest rates, multiple fixed deposit schemes, and flexible interest payable as per your convenience. In addition, IndusInd Bank also enables you to pull out funds from other bank accounts. There is also scope for partial withdrawals, special schemes and rates for senior citizens, nomination and auto-renewal facilities, and tax saver deposits up to Rs 1.5 lakhs.
Applying for a fixed deposit at IndusInd Bank is easy and hassle-free. Check your eligibility criteria and apply via internet banking, mobile banking or by visiting your nearest IndusInd Bank branch. If you are a new customer, you do not need to have an existing account with the bank. Simply apply online for the FD and submit the required documents online or at the bank branch.
What are you waiting for? Get in touch with IndusInd Bank today for attractive fixed deposit schemes.