Whether you can earn from a fixed deposit or not depends on how old you are, and how patient you are.
FDs are good for people planning their retirement, preparing a concrete backup plan for emergency needs, and for people who believe in long-term investment.
For example, if you are in your younger days wherein you can undertake a bit of risk to earn a profit, you can go for market-linked securities. However, if you are a person in your early 20s, 30s, 40s and even 50s for that matter; planning their retirement or other inevitable financial needs, or investing just to increase their financial worth - an FD is the best option. It is safe and the returns are guaranteed no matter for how long you invest.
For example, a small sum such as Rs 20, 000 invested in right FD scheme (FD scheme offering the highest ROI such as Bajaj Finance offering a high
rate of interest on FD at 8.40% per annum) can fetch exactly double of the investment, given you invest it for at least 10 years (which is the minimum you can think of when talking about long-term investment). You can garner 4 times your investment if you invest the same money under the same conditions for 20 years. To be honest, for someone who is not investing to gain profit immediately can benefit from this.
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