There are so many different investment
options in India that one is bound to get distracted. But the most common one
out of them all is a bank’s fixed deposit. It allows you to lock-in your saving
for a particular duration and let you earn interest on the same.
Apart from being the most common, it is
also the simplest way of utilizing available investment options in India. But a
situation which is very common amongst investors is the premature withdrawal of
a fixed deposit. This decision can be taken for many reasons, including
personal and business.
However, now with the help of an instant
personal loan, investors
can stop losing money on premature FD withdrawals. In this article, you will
read about everything related to such case scenarios.
Situations that can encourage you to break an FD
●
When the
interest rates rise and your fixed deposit is in a lock-in period for three
years. It can make you miss out on investing in other great investment options
in India.
●
When the
interest rates fall, and the fixed deposit is in lock-in for one year or less.
●
When an
investor needs immediate funds, but their FD investment options in India are
nowhere near the maturity period.
Ways a personal loan help investors
1. Quick funds
Due to the simple personal loan
eligibility criteria, a borrower can obtain funds almost instantly. It is
evident when you have all the relevant personal loan documents handy.
2. Easy application process
If you are wondering how to apply for
personal loan, then you are in for a surprise! All the personal loan
eligibility standards allow you to apply online with convenience.
3. Usage and limitations
Using a personal loan as available
investment options in India will allow you to enjoy flexibility. It is all
because the funds generated by this source can be utilized for any purpose.
4. Loan amount and tenor
If you want to acquire a personal loan
for an extended period, it is now possible. Borrowers can easily apply for a
personal loan for a tenor of up to 5 years. Furthermore, the amount limitation
for this investment option in India is also substantial.
5. Interest rates and fee
Although theinterest
rates on personal loans can be a little bit high, one can still shop for a better
quotation. To find low interest rates personal loans, borrowers can easily use
the online EMI and fee calculator.
Other available options to avoid premature withdrawal
1. A laddering approach
One way to save yourself from making a
premature withdrawal on your fixed deposit is by following the laddering
approach. With such investment options in India, you will be able to create an
extensive portfolio of assets. You can opt for schemes that offer best short
term investments to create fixed deposits of different maturity periods.
2. Sweep-in accounts
The list of investment options in India
also provides you with the facility of sweep-in accounts. It is two in one
account that allows you to enjoy interest rates of a fixed deposit with
liquidity factor. Moreover, this account is also considered the best investment
plan for 3 years by most people.
NBFCs is the ideal option
to consider when you are looking to borrow a personal loan, business loan, home
loan or more.
To facilitate the loan acquiring
process, they have created numerous pre-approved online deals. Going for these
deals can make your loan process hassle-free and fast.
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