Don’t get all the money in a single bank, use your wits and take full advantage of government rules, you know the trick

New Delhi. Because of the characteristics like good interest rates, low risk of losing money and getting money back whenever you want, fixed deposits are the preferred investment vehicle of investors. If you invest money in FD intelligently, by understanding the banking rules well, not only will you get more returns (FD yield), but the chance of sinking your money is also zero. Even if the bank goes bust, you get your pie-pie back. Some smart investors use these three tricks to enjoy more interest and liquidity than others.

It’s not like the bank gave them a separate facility. They just changed the way of investing in FD. They make good use of the Reserve Bank’s rules and make risk-free investments. If you also use these three smart methods while investing your money in FD, then you will also get many benefits.

Now earn a lot on FD yourself, no need to invest money here and there, the bank gives record returns, know-how

Don’t invest all that money in an FD
You shouldn’t invest all your money in a single FD. Share the amount of money you want to invest in FD. Instead of investing all your money in a fixed deposit of the same maturity, split that money into three parts. Invest your money in different time deposits.

Have FD done in different banks
There is also a difference in banks’ FD interest rates. Small banks usually pay more interest than large banks. For this reason, instead of getting FD in the same bank, you should get FD done in different banks. You can get FD for small amounts in a small bank. One benefit of FDs at many banks is that if a bank fails, not all of your money is lost.

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A security guarantee of Rs 5 lakh is available for bank deposits. This guarantee is provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of RBI. This means that no matter how much money you have deposited in a bank, if the bank fails you will only get back Rs 5 lakh. If you have accounts in multiple branches of the same bank and the amount deposited into them is more than five lakhs, even then only five lakhs rupees will be refunded. That is why you can secure your money by having FDs at different banks.

pay attention to the duration
You haven’t invested your money in an FD. FD accounts have also been opened at many banks. But if you make a mistake, you won’t get the full benefit. Mainly interest and liquidity. This is not FD tenure diversification. You should invest your money in FDs with different maturities at different banks. If you invest money in fixed deposits of 1 year, 3 years and 5 years, then you get more interest and money also comes to you at regular intervals.

There is a difference in the interest rates of FDs with different maturities. Doing FD this way will earn you interest on your money in three ways, and there will be more than the interest you get by investing in FD for a period of time. If we have invested money in FDs with several maturities, then one or the other FD from us will continue to mature at short intervals. Because of this, we will not be short of money. Even if we suddenly need money, we can get out of an FD in between. Since our entire fund is invested in different tranches, the loss in the event of an early withdrawal is lower.

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