- bank fixed deposits are your losses
- Money security is not always guaranteed
- Penalty has to be given for breaking before maturity
- New Delhi: Bank fixed deposits are considered the safest investment in our country. This is the reason that saving people first invest money in fixed deposits in the name of investment. Actually, a fixed interest rate can be earned on fixed deposits (at the time of investment, you know how much money you will get after maturity.If you also think that you invest money in FD, then tell you that there can be some loss in FD, therefore it is not right to invest money in FD alone. If you are thinking that we want to tell you about the reduced interest rate on FD, then we want to warn you about some such dangers of Bank fd that you need to know for you. Is very important.Also Read: Babies with COVID-19 tend to have mild illness, mostly with fever
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- If you think that the money invested in bank FD will always be safe, then let us tell you that if the bank goes bankrupt, then in such a case, under the Deposit Insurance and Credit Guarantee Corporation (DICGC), your only 5 lakh over the bank default (Bank Default) Amount grains up to Rs. That is, it is not wise to invest all the money in a single bank, because if you make a fixed deposit of 2 crore, then in such a situation you are guaranteed only 5 lakh rupees.
- It is true that you can fulfill your need by breaking the bank FD at any time of need, but penalty has to be paid for breaking the FD before maturity.
- There is also a lock-in period of 5 years on FD. Many times bank FDs have long lock-in periods with low returns.
- In the environment of falling interest rate, early maturing FDs come under the cumulative option. This means that the interest payable at the time of maturity is reinvested. This often causes investors to lose.
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