20 January 2024 | By INDIE
Fixed Deposits (FDs) are not just a financial product for savings but are also an instrument for financial security. The product offers investment assurance and stability. This is especially true when factoring in the banking vertical, where questions such as which bank is safe for fixed deposit, is fixed deposit a good investment, and whether fixed deposits are of paramount importance.
One such commendable option is INDIE, the new-age app from IndusInd Bank, which brings great convenience to our investment journey. INDIE’s approach to FDs is innovative and customer-centric, making it an attractive choice. Let's delve into why an FD is a good investment.
Attractive interest rate
A standout feature of the INDIE FD is the provision of an interest rate of up to 7.5% per annum. This means your money is not sitting idle but is actively growing. Such growth is considerable, particularly in an economic scenario where fixed deposit interests may fluctuate and often do not keep pace with inflation. The rate of INDIE FDs is competitive, ensuring your savings do not just grow but do so at the best market rate.
Customise savings your way
The option to start an INDIE FD with a minimum deposit of ₹1,000 introduces unprecedented inclusivity and customisation in savings. This benefit is especially empowering because it democratises investing, making it accessible to all irrespective of their finances. Whether you are a professional accumulating wealth, a college student saving through part-time employment, or a senior citizen accumulating a corpus for retirement years, this flexibility permits you to customise your savings as per your unique goals and situations.
Hassle-free instant booking
Speed and convenience are key features of the INDIE FD. The ability to book an FD in less than a minute, and without the need for any paperwork not just saves time; it streamlines your financial management process. This approach lines up perfectly with the modern lifestyle, where ease and efficiency are highly valued. This feature reflects INDIE's commitment to integrating technological advancements to enhance customer experience.
Pay using FDs
Imagine a situation where your regular expenses overshoot, and your savings account balance dips. Typically, this would be a cause for concern. However, with INDIE, you can seamlessly link your FD to your savings account. This innovative feature means that in times of need, your fixed deposit can instantly come to your rescue, allowing you to make payments directly from it. This not only ensures liquidity but also reinforces the safety of your investment, answering the common query, "Is FD safe?" in a very practical and reassuring manner. It is like having a financial backup plan that is both flexible and robust.
Save tax
A vital aspect of INDIE's FD offerings is the fixed deposit tax saving option. This financial product offers tax-saving benefits under section 80C of the Income Tax Act of 1961, which is a considerable boon for investors. On investing in a tax-saving FD, you can claim tax deductions of up to ₹1.5 lakh per annum from your taxable income.
Conclusion
Opening an INDIE FD account is not only about securing your surplus funds; it is about making a smart choice that matches your goals and needs. The features offered – from high-interest rates to unmatched convenience and flexibility – make INDIE fixed deposits a compelling choice for anyone looking to optimise their financial portfolio. So, whether you are an experienced investor or just starting out, the features of INDIE's FD are too significant to overlook. So why wait? Invest in an FD through INDIE today!
