Saturday, 28 January 2017
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What Are The Types of Fixed Deposit Schemes?
When you open fixed deposits, you need to choose whether you want to withdraw the interest regularly or reinvest it to increase earnings. This will determine what type of fixed deposit scheme you are opting for.
If you want to regular interest payouts to meet your needs, then Non-Cumulative Fixed Deposit is the best scheme for you. If you want to earn more and have no issue with the interest withdrawal, then cumulative fixed deposit is suitable for you.
If you want regular income, Fixed Deposits are a good choice. Look at the fixed deposit interest rates offered by different financial institutions and select a few good ones to invest with. You can also choose the NBFC or bank based on the frequency of payouts they offer.
If you want to know what all options you will get to invest in FD, read: http://financeaffairs.kinja.com/types-of-fixed-deposit-schemes-and-interest-payout-opti-1790493095?rev=1482734280614
About Arwind Sharma
Arwind Sharma, Currently residing in Gurugram, Haryana. I work as a financial advisor with a Fintech company and have an experience of more than 7 years in personal finance. Having worked with some of the topmost financial firms in India I developed a knack for writing and sharing my knowledge to help others. If you need help or suggestions regarding matters related to finance and investment, you can connect with me on social networking platforms
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