START SMART INVESTMENT
There are various avenues of investments. We will begin with the safest options. Don’t forget to cut and keep these tips from V. Mahadevan, CEO of Wealth Advisors India Pvt. Ltd., Chennai. Later on, a run through will provide you with enough information to plan your investments. You can also send in queries regarding investments to editor@evestimesonline.com Investigate and invest.
Bank Fixed Deposits…..
Banks are vying with one another to offer attractive interest rates for short term deposits, and this usually happens by March. This year the competition was at its peak with the schemes continuing well up to April/May. Keep a watch when the bank FDs offer attractive interest rates and park your surplus funds in banks. After all, no investment can be safe than the FDs in banks. Before you make up your minds , here are a few tips:
INVEST SMARTLY
- Before opening a FD account, compare the rates of interest offered by different banks for different periods.
- Try to place your investments in five or more small deposits instead of making one huge deposit If you happen to go for a premature withdrawal of partial amount, then you need to encash only one or two FDs. Hence the loss sustained in interest will be less than if you were to encash one big deposit.
- Ensure that all the particulars furnished by you have been entered in the FDs correctly.
- Before you consider investing in FDs you not only have to look at the interest rate but also at the inflation rate because a high inflation rate can eat into your real returns.
- A smart investor has a few Bank FDs as a part of his investment portfolio, which gives him a reassurance of safety and easy liquidity in times of need.
