Find a Good Financial Backup in Fixed Deposits

Getting your salary on time and managing expenses smartly will definitely not help your money grow. You need to incubate your money in right kind of investment plan/Fixed Deposit with right safety and security measures if you want to see yourself rich over a certain period of time. The term fixed deposit denotes a fixed rate of interest and fixed maturity period.

Commercial financial institutions, especially Non-Banking Financial Companies offer investors with the most lucrative fixed deposit plans available in the market. A fixed deposit account acts as a safe storage for your idle lying money, and the interest rate offered by the financial institution appreciates your money on a monthly or yearly basis. For example, if you open a Ronnie Finance FD with Rs. 1,00,000 with an interest rate of 18% p.a. After a year your money will increase by 18% i.e.  1,18,000. Hence, Fixed Deposits make a good financial backup by helping your money grow smoothly over a stipulated time period.

Fixed Deposits made with registered Non-Banking Financial Companies provide investors with the highest rate of interest as compared to banks. However, the interest rates of a fixed deposit are fixed until the given maturity date. You are not eligible to withdraw these funds prior to the date of maturity. Nevertheless, Non-Banking Financial companies offers a more flexible format wherein you can withdraw your money  after giving advanced notice or by paying a penalty rate.

The option of investing in Ronnie Finance FD is often used by entrepreneurs, professionals for storing their liquid funds for a future use. Also, fixed deposits are considered relatively safe investments even when they are provided by registered Non-Banking Financial Companies, savings corporations etc.