As a parent, securing your child’s future is most likely on top of your priority list. And why not? Your child deserves the best quality education and access to all the right opportunities. And in this day and age, both of them can get quite expensive. Read about how to Secure Your Child’s Future with IndusInd Bank Fixed Deposit
If you don’t have a risk appetite, you’re probably opening a savings account to save and grow your funds. But if you open a fixed deposit (FD) with a trusted banking partner, you can get even higher returns on your earnings, all without any market risks.
IndusInd Bank provides some of the best FD interest rates to make your money work for you. Here are a few more reasons to open an FD with IndusInd Bank.
5 Reasons to Open an FD with IndusInd Bank
IndusInd Bank FDs come with a range of exclusive benefits for your convenience. They include:
1. Flexible Tenures
FDs may be term deposits. But that doesn’t mean you must lock your money away for uncomfortably long periods to earn returns.
People have different short-term and long-term financial goals, and with IndusInd Bank fixed deposits, they have the opportunity to meet them all. Hence, IndusInd Bank offers FD tenures ranging from 6 months to 10 years. Moreover, you can choose your tenure before opening your fixed deposit account.
2. High-Interest Rates
The last thing you want to do is lock away your funds for long periods and not earn good returns. Fortunately, you never have to worry about the returns on your IndusInd Bank fixed deposit.
With higher interest rates than most banks in the market, you can multiply your investments, that too, without any market risks. This means you can grow your money quickly and safely when you open a fixed deposit with IndusInd Bank.
3. Interest is Compounded Based on Your Preference
Want periodic payouts rather than a lump sum at the end of your FD term? No problem! With IndusInd Bank FD, you can choose how your interest gets compounded. For instance, you could opt for monthly, quarterly, half-yearly, yearly, or even term-compounding based on your financial goals.
Remember that when you opt for non-cumulative FDs or FDs with interest payouts on a monthly, quarterly, half-yearly, or yearly basis, you don’t get the benefits of compounding on the interest earned. So, if you’re looking to get the most returns on your FDs and don’t mind the locking out period, opt for a cumulated FD with IndusInd Bank.
4.Tax Savings
Did you know you can bring down your total taxable income by opting for a tax-saving FD with IndusInd Bank? You can open a tax-saver FD with IndusInd bank and deposit up to Rs. 1.5 lakhs and claim tax deductions under section 80C of the Income Tax Act, 1961.
However, remember that these FDs have a lock-in period of 5 years. This means you cannot withdraw any funds pre-maturely.
5. Easy Account Opening
Who said opening an FD was a long-drawn process? With IndusInd Bank, you can open an FD online in 3 simple steps.
You can book an FD via the web application form if it’s your first time opening an account with the bank. All you need to do is fill in your details, select an FD and submit your Aadhar and PAN card information. Once you do this, you can quickly complete the video KYC and start your FD.
If you’re already an IndusInd bank customer, opening an FD is even easier for you. Log into your IndusMobile account and click on create an FD. Don’t want to download the app? Open your fixed deposit via IndusInd Bank’s net banking facility – IndusNet instead!
Over to You
All the above features make IndusInd Bank an excellent banking partner for opening a fixed deposit. Not only do you get assured returns, but you get them on your own terms too. So if you’re eager to start saving for your child’s secure future, visit IndusInd Bank’s website to know more about their offerings.
Apart from this, if you are interested to know about Best Short Term Investment Plans in India to look for in 2021 then visit our Business category.
