Do you have some extra money that you want to invest in a fixed deposit scheme to help it grow further? You can open a corporate fixed deposit plan as compared to the bank FD scheme, it can offer you higher returns and many more benefits.
If you are not yet convinced about why investing in the corporate fixed deposits could be a better move, this post will help you know some vital reasons for investing in it.
What is a Corporate Fixed Deposit Plan?
Corporate fixed deposit plan is a scheme which is provided by leading non-banking finance companies (NBFCs) and other service providers. Compared to the conventional FD schemes, investing in corporate fixed deposits can help you lap up higher ROI in a short tenor. The tenor of a corporate fixed deposit plan is between 1 year and 5 years and gives a higher ROI of 8% and 8.75% in case if you are a senior citizen. Also investing in corporate fixed deposit plan will help you to save TDS on interest income through form 15g and 15h. To apply for these forms you must have a PAN card.
5 Reasons to Stay Invested in Corporate Fixed Deposits
Here are some reasons investing in corporate fixed deposits should be profitable to you:
1) Higher Interest
Compared to the fixed deposit plans of banks, the interest-based ROI of the corporate fixed deposits are always a winner. You can avail up to 8.75% annually on the fixed deposits accounts under the company fixed deposit plans. Standard citizens can enjoy up to 8% while senior citizens can avail up to 8.75% as the interest gains. You can also enjoy customized interest rate if you put in some heavy deposits. You can choose cumulative (payment after the end of the tenor) and non-cumulative (periodic payments) system as per your needs, and goals that you want to achieve.
2) Security
Compared to bank fixed deposit plans which are considered safer as its FDs are insured up to Rs.1 lakh by the RBI in case of default, does not make corporate FDs less safe. The corporate fixed deposit plans are safe and secure plans as they are backed by and carry ICRA and CRISIL safety ratings. Such ratings mean that you need not worry about losing your invested money in a company fixed deposit scheme.
3) Wider Tenor
When it comes to the flexibility of the fixed deposit plan duration, you should opt for the corporate fixed deposits as they provide flexibility in interests, document requirement and more. They also come with a flexible tenor as you are free to opt for a duration ranging from 12 months and 60 months. Also, you can open more than one FD plan for meeting each one of your goals without any restrictions and issues.
4) Online Account Management
When everything is available online, can fixed deposit plans be behind? No, right? You can apply for corporate fixed deposits online and save time and efforts. Once your account is open, you can also track its progress right from the digital customer portals of the service providers, right from anywhere and 24/7.
5) Other Facilities
The above all discussed FDs facility makes it as most preferable and best investment schemes among people. There are also other more facilities that FD can provide you are: Leading online fixed deposit service providers also provide you many other facilities such as online fixed deposit calculators and loan against FD and more. In case you want to liquidate your FD, you need not do that and lose your interest. Instead, you can opt for a loan against it to cover your urgent needs at a lower interest and longer tenor. You can also use the online fixed deposit calculator and calculate in advance your total interest-based ROI for an invested amount against a tenor.
The Bottom Line
Now that you are aware of the major benefits that the corporate fixed deposits can give you compared to the banks and others, it will be good to invest in such a plan.
The ultimate goal of any investment scheme should be safety, and guarantee of ROI and higher interest and the corporate fixed deposits provides you all such benefits. Applying for a corporate fixed deposit plan is easier as you can apply online and get started towards a healthy investment habit.
If you are not yet convinced about why investing in the corporate fixed deposits could be a better move, this post will help you know some vital reasons for investing in it.
What is a Corporate Fixed Deposit Plan?
Corporate fixed deposit plan is a scheme which is provided by leading non-banking finance companies (NBFCs) and other service providers. Compared to the conventional FD schemes, investing in corporate fixed deposits can help you lap up higher ROI in a short tenor. The tenor of a corporate fixed deposit plan is between 1 year and 5 years and gives a higher ROI of 8% and 8.75% in case if you are a senior citizen. Also investing in corporate fixed deposit plan will help you to save TDS on interest income through form 15g and 15h. To apply for these forms you must have a PAN card.
5 Reasons to Stay Invested in Corporate Fixed Deposits
Here are some reasons investing in corporate fixed deposits should be profitable to you:
1) Higher Interest
Compared to the fixed deposit plans of banks, the interest-based ROI of the corporate fixed deposits are always a winner. You can avail up to 8.75% annually on the fixed deposits accounts under the company fixed deposit plans. Standard citizens can enjoy up to 8% while senior citizens can avail up to 8.75% as the interest gains. You can also enjoy customized interest rate if you put in some heavy deposits. You can choose cumulative (payment after the end of the tenor) and non-cumulative (periodic payments) system as per your needs, and goals that you want to achieve.
2) Security
Compared to bank fixed deposit plans which are considered safer as its FDs are insured up to Rs.1 lakh by the RBI in case of default, does not make corporate FDs less safe. The corporate fixed deposit plans are safe and secure plans as they are backed by and carry ICRA and CRISIL safety ratings. Such ratings mean that you need not worry about losing your invested money in a company fixed deposit scheme.
3) Wider Tenor
When it comes to the flexibility of the fixed deposit plan duration, you should opt for the corporate fixed deposits as they provide flexibility in interests, document requirement and more. They also come with a flexible tenor as you are free to opt for a duration ranging from 12 months and 60 months. Also, you can open more than one FD plan for meeting each one of your goals without any restrictions and issues.
4) Online Account Management
When everything is available online, can fixed deposit plans be behind? No, right? You can apply for corporate fixed deposits online and save time and efforts. Once your account is open, you can also track its progress right from the digital customer portals of the service providers, right from anywhere and 24/7.
5) Other Facilities
The above all discussed FDs facility makes it as most preferable and best investment schemes among people. There are also other more facilities that FD can provide you are: Leading online fixed deposit service providers also provide you many other facilities such as online fixed deposit calculators and loan against FD and more. In case you want to liquidate your FD, you need not do that and lose your interest. Instead, you can opt for a loan against it to cover your urgent needs at a lower interest and longer tenor. You can also use the online fixed deposit calculator and calculate in advance your total interest-based ROI for an invested amount against a tenor.
The Bottom Line
Now that you are aware of the major benefits that the corporate fixed deposits can give you compared to the banks and others, it will be good to invest in such a plan.
The ultimate goal of any investment scheme should be safety, and guarantee of ROI and higher interest and the corporate fixed deposits provides you all such benefits. Applying for a corporate fixed deposit plan is easier as you can apply online and get started towards a healthy investment habit.
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