Fixed Deposit for Women 2024

Fixed Deposits (FDs) can be a suitable financial tool for women seeking secure and reliable investment options. Certain financial institutions offer special FDs for women with higher interest rates than regular FDs, helping them grow their savings faster.

 

These FDs provide guaranteed returns, making them ideal for women who prefer low-risk investments. Additionally, some financial institutions offer flexible tenure options and added benefits, like easier access to loans against FDs. For women planning for future expenses such as education, marriage, or retirement, FDs offer a safe and effective way to build a robust financial foundation.

Fixed Deposits offer a secure and reliable way to invest your money. Bajaj Markets provides tailored benefits that make it especially advantageous for women. Here are some reasons why women should consider investing in an FD through Bajaj Markets:

Attractive Interest Rates

Bajaj Markets offers competitive interest rates on FDs, helping women grow their savings effectively. Some banks and NBFCs may provide additional interest rate benefits, further boosting returns.

Flexible Tenure Options

Women can choose from several tenure options ranging from 12 to 120 months. This flexibility allows them to align their investment goals with their financial plans.

Guaranteed Returns

Unlike market-linked investments, FDs offer guaranteed returns. This provides financial security and peace of mind, particularly for women who prefer low-risk investments.

Special Schemes for Senior Women

Senior citizen women can benefit from higher interest rates, ensuring better financial support during their retirement years.

Periodic Payouts for Regular Income

On Bajaj Markets, women can compare offerings from various banks and NBFCs that provide periodic interest payout options. These payouts, available monthly or quarterly, serve as a regular source of income for managing expenses.

Easy Online Process

Women can conveniently invest in an FD through Bajaj Markets via a seamless online application process that requires minimal documentation.

Fixed deposits provide stability and assured returns, and some banks and NBFCs offer competitive interest rates tailored to meet the financial needs of women. The interest rates may vary depending on the tenure of the deposit, providing flexibility to address different financial objectives:

Short-term FDs

Short-term FDs, with a tenure ranging from 7 days to 6 months, are ideal for women seeking quick returns. These deposits offer flexibility and easy access to funds in case of financial emergencies.

Medium-Term FDs

Medium-term FDs typically span between 1 year and less than 5 years, designed for women aiming to meet medium-term financial goals. These deposits generally offer higher returns compared to short-term options.

Long-Term FDs

Long-term FDs, with a tenure of 5 years or more, are ideal for women planning for retirement or other long-term goals. These deposits typically provide the most attractive interest rates, helping to build a substantial corpus over time.

One of the key factors to consider when investing in FDs is the interest rate. Check out the FD rates for women:

For small investors, it is essential to understand how to calculate FD returns. Check out how your returns on women's fixed deposits may vary at different rates for a tenure of 1, 3, and 5 years if you invest ₹50,000.

You can earn considerable returns on FD investment if you are a medium investor. The following are the returns you can make on FD schemes for women in India if you invest ₹1 Lakh for these varying tenures.

If you are a high net-worth individual (HNI), you can spare a significant sum to invest in an FD. Check out the estimates of returns if you plan to invest a sum of ₹10 Lakhs for varying tenures:

Women looking to open a fixed deposit must meet certain basic eligibility criteria, although these may vary across financial institutions. Here are some general requirements:

• Applicants must be at least 18 years old

• Minors can open an FD under the supervision of a parent or legal guardian

• Both resident and Non-Resident Indian (NRI) women are eligible to open an FD, subject to the institution’s internal policies

• Applicants must provide valid identification proof, such as a passport, voter ID, Aadhaar card, or driving licence

• Address proof is also required, which can include utility bills, an Aadhaar card, or a rental agreement

Opening a fixed deposit is a simple process that can help women secure and grow their savings. Follow this simple process to open an FD for women:

Select the Right Bank

Choose a financial institution that offers competitive women's FD interest rates and flexible tenures.

Keep Your Paperwork Ready

Gather necessary documents for Know Your Customer (KYC) verification, including Aadhaar card, PAN, and recent photos.

Complete the Application Process

Apply for a fixed deposit online or in person at the branch.

Choose the Amount

Select the desired deposit amount of investment based on your financial goals.

Select a Suitable Tenure

Choose a fixed deposit scheme tenure that suits your financial needs, usually ranging from 7 days to 10 years.

FDs are an excellent way for women to start building their financial portfolio. However, to maximise returns on investment and ensure long-term financial security, consider the following tips:

Best Practices for Investing in FDs

• Research and compare the various FD interest rates offered by different banks and NBFCs to secure the highest returns

• Choose a tenure for your FD that aligns with your financial planning and investment goals

• Look for banks and NBFCs offering exclusive schemes designed for women, providing higher interest rates and additional benefits

Diversifying Investment Options Beyond FDs

• While FDs offer a secure and stable investment method, they should also complement a diversified portfolio

• If you have a higher risk appetite, explore other market-linked investment avenues that can potentially offer higher returns

• Consider a recurring deposit alongside your fixed deposit to cultivate a regular savings habit

• Explore traditional investment options such as gold or government bonds as other low-risk alternatives

Financial Literacy Resources for Women

• Many financial institutions provide comprehensive learning resources on investment and fixed deposits, helping women enhance their financial literacy

• Explore websites and apps that offer tools for budgeting, investing, and understanding various financial products

• Seek professional advice when in doubt to tailor your investments according to your specific needs and goals

FDs are a secure and versatile investment option that offer numerous benefits tailored specifically for women. From competitive interest rates to tax-saving opportunities, FDs empower women to achieve their financial goals, whether short, medium, or long-term. Additionally, the availability of special schemes for women helps them make informed decisions and build a robust financial foundation.