Fixed Deposit Schemes
While investing, people generally aim at creating a portfolio of investment. There are various investment vehicles available wherein a customer can choose to build his portfolio. In India, fixed deposits are the preferred instruments of investment by the people. It is preferred over other forms of investment because it is the lowest risk vehicle and the simplicity of its functioning.
Fixed deposits are associated with safety and generally are regarded as risk-free. They generate an assured return based on the rate at which the fixed deposit was taken. The objective behind taking a fixed deposit scheme is the guaranteed return, which helps a customer plan their future better.
It is thought that fixed returns may not prove to be that effective in the longer run. But if you factor in all the necessary variables and then plan a scheme that substantiates a return which fulfils your future requirements, fixed deposits are one of the best investment vehicles in the market.
Some advantages of FD scheme:
- A fixed deposit is one of the safest investment options. Assured and fixed rate of return reduces the risk.
- Accessibility is another advantage of fixed deposit. The minimum amount to start a fixed deposit makes it a viable option for everyone.
- General purpose of starting any investment is to meet some needs in the future. The flexibility of tenure enables the customer to plan his future needs and take a fitting tenure scheme.
- Fixed deposit is an advantageous option for a senior citizen who wants to keep their liquidity higher and does not want to take any unnecessary risk. Further, the rates of return on FD for senior citizens are generally a bit higher.
Keeping the above in mind, it is easy to conclude that fixed deposits are a strategic investment option for everyone and should be considered a must-have portion in everyone's portfolio.
Having this clarity about the FD scheme, we need to understand which type of scheme we should pursue.
Types of FD Schemes:
There are two types of fixed deposit scheme:
1. Cumulative Scheme: If an individual aims towards building a corpus in the longer run, a cumulative fixed deposit is a better investment option. Here the principle of compounding is applied, interest earned from the deposit is added to the original sum, and the customer gets additional interest on the same.
The interest earned here is not paid out during the investment tenure. At maturity, the cumulative interest and principle is paid to the customer.
2. Non-Cumulative Scheme: This scheme is suitable for customers who wish to add a regular flow of income to their existing system. Here the interest is paid to the customer at regular intervals depending upon the chosen scheme particulars. Interest payment intervals are monthly, quarterly, half-yearly, and yearly.
Shriram Finance
Forty-six years of existence, with an unshakeable commitment to building valued customer services, aimed at providing banking and financial services of the highest order to the customers, the Shriram Finance.
A technologically driven firm that aims at utilizing the latest developments in the field of technology towards creating a unique and efficient system for its customers, Shriram Finance has a presence in various areas of banking and finance. Customers love to do their business with Shriram Finance, as this firm provides the deposits and lending services to the core of India, and tailors them as per the actual needs of the customer.
Fixed Deposit Schemes at Shriram Finance:
Shriram Finance believes that no matter how many new investment options are presented to the customer fixed deposit schemes will never lose their charm.
One of the basic reasons for the popularity of these schemes is their simplicity and clarity.
For a clearer description of the scheme, with details of different returns in Cumulative Scheme and that in Non-Cumulative Scheme, make sure to visit the Shriram Finance Website.
The rate of interest on various interest payment intervals in the non-cumulative scheme is also very clearly defined.
Over 6.7 million customers have absolute trust in Shriram Finance. The main factor behind such a bond is the way Shriram Finance functions.
Online Fixed Deposit Scheme:
Shriram Finance is a technology-driven company that gives you a link along with various details on their webpage and an app to start investing in their fixed deposit scheme. When you use this option, you can easily start an online fixed deposit scheme.
Online fixed deposit scheme particulars and details are available in the simplest format. With the current pandemic and the risk involved while visiting a facility in person, an online fixed deposit scheme becomes a very efficient tool for the customers.
Though the online fixed deposit scheme is great and helps the customer start investment from anywhere they want, that does not mean Shriram Finance is only for the technologically able customer.
If a customer is not tech-savvy, they can walk into any branch of Shriram Finance or if they do not want to visit the facility, they can call and get a visit from company representatives. Even the offline process of starting an FD scheme is so smooth that it gives the customer an absolute delight in investing with them.
Fixed Deposit Calculator:
Another factor that makes Shriram Finance so likeable to its customers is that they ensure transparency in their options. Whether you choose a Cumulative Scheme or Non-Cumulative Scheme and want to know the payout structure of your investment over different periods, different amounts and different intervals, you can do so with a few clicks. There are no hassles of punching in your number and revoking your DND setting on mobile phones.
A simple-to-use calculator with all the required functionality that helps customers make a better decision.
High Degree of Safety:
Shriram Unnati FD is accredited with [ICRA]AA+ (Stable)” by ICRA and "IND AA+/Stable" by India Ratings and Research. The rated deposits programme carries low credit risk."
ICRA Limited was formerly known as the Investment Information And Credit Rating Agency Of India Limited. This essentially means that Shriram Finance schemes are secured FD Scheme
Senior Citizen Fixed Deposit Scheme:
Fixed deposit schemes are generally the best investment option befitting the risk appetite of senior citizens. Shriram Finance provides 0.50%* p.a. special benefit for senior citizens on their fixed deposit plans.This makes it highly lucrative for them.
Shriram Finance provides the best Interest rates for senior citizens. Higher Rate of return, flexible tenure, and a flexible payout structure makes the Shriram Finance FD Scheme a complete package.
Adding to the already existing deal is the fact that Shriram FD is accredited with [ICRA]AA+ (Stable)” by ICRA and "IND AA+/Stable" by India Ratings and Research. Shriram Finance has been able to keep a higher rate of return despite the current economic situation and monetary policy, which makes it even more lucrative for its customers. They have been able to perform well as compared to their peers, and the efficacy of the same can be observed from the dominant position of Shriram Finance in the market.
Shriram Finance's position reaffirms the customer's faith in fixed deposit schemes when the real rate of return (inflation-adjusted) creates a troublesome picture for FD customers. When it comes to senior citizens, Shriram Finance provides the Best FD Interest rates.
Whatever your saving goals are, whether you want to build a corpus or keep a source of income at regular intervals, Shriram Finance Fixed Deposit Schemes are the best saving scheme in the industry.
