As soon as the old financial year is over, people start making plans to make changes and improve their financial portfolio. Looking for ways to get maximum returns with less risk.
When it comes to getting decent returns with very little risk, the most popular name comes from fixed deposit schemes. For this, almost all banks have FD schemes ranging from 7 days to 10 years.
But know this important thing
If you are also a fan of the returns you get in less risk than FD and are going to invest in any FD scheme in the coming time, then you should know some important things. So that you also get good returns on bank FD and even if you have to break before FD maturity, then you will have minimum loss.
Invest money in more than one scheme: If you are going to invest in fixed deposits, then the option of FD laddering will be good. That is, do not invest the entire money in the same FD for the same time frame. Rather, share that money and invest it in different FD schemes of different banks. With this, you will also get an insurance benefit of Rs 5-5 lakh from each bank. Even if the FD has to be broken, then only one or two FDs have to be broken according to the need. This will give time for the remaining FDs to mature.
Special Deposit Schemes: Many banks launch special FD schemes for 444 days or 650 days or 888 days. In these schemes, more interest is given by the banks than the common schemes. If you choose such a scheme by being aware, then you can get higher returns.
Low returns but high security: The returns on money invested in FD schemes are low but your money remains safe. Most banks have reduced interest rates on FDs since the time of the Corona epidemic. Small Finance Banks Pay Higher Interest: Small Finance Banks pay more interest than the nationalized banks. They also give insurance up to Rs 5 lakh. Through this also you can get higher returns.
