Conventional investors or old-age people love putting their money in fixed deposits (FDs) because they’re safe. FD is perfect for those who don’t want to take big risks with their money, especially those saving for important things like retirement or a child’s education. It’s like putting money in a piggy bank, but with a bank that pays you interest.
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Why prefer fixed deposits in Stable Money?
Looking for a safe and reliable way to grow your savings? Investing in fixed deposits through Stable Money might be the perfect solution! Here’s why:
1. Steady Growth: Forget the ups and downs of the stock market. Fixed deposits lock in a guaranteed interest rate for your chosen period, meaning you know exactly how much your money will grow. It’s like a no-surprise savings boost!
2. Sleep Sound at Night: Worried about losing your hard-earned cash? Fixed deposits are considered low-risk investments, making them ideal for cautious investors who prioritize keeping their principal safe. So you can sleep without any tension at night.
3. Simple & Easy: No confusing charts or financial jargon here! Fixed deposits are straightforward to understand, even for beginners. It’s like putting your money away in a piggy bank, but with interest growing on top!
4. Unaffected by the Market Risk: Stock market crashes got you stressed? Fixed deposits are unaffected by market fluctuations, so your money stays protected no matter what happens outside. It’s like a peaceful island in a stormy sea!
5. Liquid Investment: Sometimes we need quick access to our fund and liquid cash at a very urgent time. While there’s a lock-in period, many fixed deposits offer options for early withdrawal or loans against your deposit. It’s like having a safety net just in case.
6. Tax Waiver: Looking for ways to reduce your tax burden? Certain fixed deposit schemes offer tax benefits, making them even more attractive. It’s like getting a double bonus on your investment!
7. Systematic Growth with Zero Risk: Think of fixed deposits as the stable foundation of your investment portfolio. They balance out the riskier, potentially higher-reward investments you might have.
So, if you’re looking for a safe, predictable, and easy-to-understand way to grow your savings, fixed deposits are worth considering. They offer a great combination of stability, assured returns, and peace of mind!
Stable Money Returns on FD
Stable Money makes investing in Fixed Deposits (FDs) as simple as ABC. They compare interest rates from top banks and NBFCs in India, all in one place. No need to visit multiple websites – find the best rates with just a few clicks.
Investing has never been faster. Open your FD in just 3 minutes through the Stable Money app, ditching the traditional hassle. Plus, enjoy tax benefits! Choose tax-saving FDs and pocket up to ₹1.5 lakhs every year. Current rates go up to 9.21%, which is comparatively higher than any other platform currently.
How fixed deposits function?
Think of it like this: you lend your money to the bank, and they pay you rent for borrowing it. The longer you lend it (the longer the FD term), the higher the interest rate you get. It’s a safe and secure way to grow your money without worrying about ups and downs in the market. It is like a money multiplier effect. Economics and Commerce folks have read about this effect previously.
But you can’t just take your money out whenever you want. It’s locked in for the pre-determined period. You can choose to get the interest paid regularly into your savings account or let it grow with your principal amount, earning you even more interest. It is not like that you cannot extract your money before the maturity period. You can, but you will have to pay a penalty for ‘breaking’ your FD prematurely. Depending upon the banks it varies from 2% to 3%.
FDs are offered by banks, other financial companies, and even post offices! You can pick a term that suits you, from a few weeks to 10 years, depending on your financial goals. Just remember, taking your money out early usually comes with a penalty, so think carefully before you jump in. On maturity day, you get your original amount (principal) back, plus all the sweet interest you’ve earned. It’s like a gift to yourself for being patient and responsible with your money!
Affordable minimum deposit
You don’t need a huge amount of deposit to invest in FDs. Fixed deposits let you start with just ₹5,000, sometimes even ₹1,000. You can choose how long to invest, from a few weeks to 10 years. Want to add more later? No problem! Make regular deposits to grow your investment. Plus, you can decide how you want to receive your money when it’s time: get interest payments every month or receive everything at once in a lump sum. Easy and flexible, fixed deposits can be a great way to start growing your savings.
FAQs
What is Stable Money?
Stable Money is India’s first digital fixed-return investment platform, launched in September 2023. It offers a transparent and user-friendly way to invest in FDs, debt mutual funds, bonds, and other low-risk assets from various banks and NBFCs.
Can I withdraw my FD prematurely?
Yes, but early withdrawals usually incur penalties. It reduces your overall returns. The penalty amount varies (usually 2-3% on the principle amount) based on the bank and how long you’ve kept the FD open.
What is the interest rate on FDs in Stable Money?
They offer rates up to 9.21%, potentially higher than traditional banks.
What is the minimum amount of booking an FD in Stable Money?
Depending upon the banks you can book a FD with just ₹5,000, sometimes even ₹1,000. Tenure is also flexible according to your financial planning.