IKoya Fixed Deposit
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Types of Fixed Deposits
Fixed term deposits are the most popular investment option in India. Primarily there are two types of Dixed Deposits
01.
Cumulative Fixed Deposit
In a cumulative fixed deposit, the interest earned will get compounded along with the principal for the invested tenure. The interest will not be payable in instalments. Instead, it will be paid only along with the principal amount at the time of maturity. The I Koya accepts investments only in multiples of Rs. 1,000/- subject to a minimum amount of Rs.5,000/- per deposit.
02.
Non-Cumulative Fixed Deposit
In this type Fixed Deposit, the interest is payable in monthly, quarterly, half-yearly, or annual instalments. It is suitable for individuals or pensioners who are looking for a income at regular intervals. These depositss are acceptable in multiples of Rs.1,000/- subject to a minimum amount of Rs.5,000/- per deposit.
Why is FD the best investment?
Why is FD the best investment?
While the market has too many high-return investment options, fixed-period-deposit have still not lost its charm. It has a plethora of benefits that make it the best investment option.
Guaranteed Returns
One of the most advantageous points is that FD offers guaranteed returns. Unlike other investments that are dependent on the market cycle, deposit with agreed maturity provides a fixed income.
Higher Interest Rates
When compared to the standard savings account, FD’s generally offer a higher rate of interest. The FD interest rates will vary according to your chosen tenure, and senior citizens get an additional rates.
Flexible Timeline
With an investment period of 1-3 years, I Koya FD schemes will help you achieve your financial goals. We also offer a higher rate of interest to make your earnings better. This lock-in period will ensure that you keep your savings safe and even earn interest for the same.
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