By: Eastern Eye Staff
The Indian Department of Posts is considered the backbone of India and is an old government institution running like clockwork. The department has made its reach more diversified by venturing into the domains of insurance, investment, money transfer and retail services. A post office fixed deposit is a good way to invest, earning returns more than banks give you today.
Advantages of a Post Office Fixed Deposit
With bank and NBFC interest rates hitting rock bottom, you may not find avenues to invest your money. However, you can invest in a fixed deposit scheme offered by NBFCs like Bajaj Finance and find out more at Finserv MARKETS. Another way to invest is via the Department of Posts in India, offering you high returns in terms of interest rates. Here are advantages of a post office fixed deposit:
Disadvantages of a Post Office Fixed Deposit
Although you will see high returns on a post office fixed deposit if you use a post office FD calculator, some people find there are disadvantages in opening a post office FD:
Opt for an FD
You can opt for an FD that strikes a balance between a bank FD and a post office FD with one at Finserv MARKETS. Explore attractive options and interest rates, plus value-added services.