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2 mins Read | 4 Years Ago

Why Fixed Deposit have charmed generations of Indian households


Over the years, one can see incredible differences in the ways generations evolve to think, act and behave. But while there may be various differences in our opinions, there is one financial advice that has stood the test of time: invest in a Fixed Deposit. Our parents swore by the reliability and benefits of this investment tool, as did the generations before them. But what is exactly about a Fixed Deposit account that makes it such an indispensable investment option for Indian families?

What makes Fixed Deposits so useful?

To understand why people of all ages have stood by the practice of investing in Fixed Deposits, it is important to thoroughly understand the many benefits it offers. Let us take a look at what exactly makes Fixed Deposits such a lucrative investment tool:

Investment without risks:

If there is one thing professionals of all ages value more than anything, it is security, be it for our finances or for our futures. Which is why Fixed Deposit accounts were and still remain such a popular financial option across generations. Fixed Deposits are one of the safest investment options in the market, and whether you are an individual who likes to take risks in their investments or not, having a Fixed Deposit account will always help in the long run.

There are other investment opportunities such as stocks and mutual funds that may provide you with higher returns. But these returns are dependent on the current trends in the market. A Fixed Deposit account, on the other hand, is built to keep your capital safe at all times. This minimises your risk and helps protect your finances from economic downturns.

Assured and profitable returns:

Saving your money in a Fixed Deposit account practically guarantees that there will be no risks to the returns of your investment due to an uncontrollable factor. Unlike other forms of investment, you will be able to receive the promised returns, exactly as you expected. Moreover, due to the high interest rates typically associated with FDs, you are certain to enjoy higher returns from a Fixed Deposit account than a Savings Account. This makes it a perfect savings option for Indian families.

Flexible tenures:

One of the greatest benefits of Fixed Deposit accounts is that they offer a flexibility in investment that can suit finance needs of all kinds. With investment tenure options ranging from a period as short as 7 days to tenures as long as 10 years, Fixed Deposits answer to the investment requirements of all, regardless of their age or economic status.

Once you pick your tenure, it becomes easy for you to determine what your returns would look like and plan your future finances accordingly. You can even plan ahead for your future financial goals by timing your FD tenures to mature at the perfect time.

Emergency fund:

Generations upon generations are sure to pass down this financial advice: make sure you have something saved up for a rainy day. In case of a financial emergency, an FD would be able to provide you with a reliable financial source of comfort. Moreover, in case you do not want to break the FD, you are always presented with the option of availing of a loan against your FD principal amount. Either way, a Fixed Deposit account always provides the assurance that you will never be unprepared for a financial emergency.

Senior Citizens get extra perks:

For all the above reasons, Fixed Deposits prove to be a great financial option for people of all ages. However, Fixed Deposits are even more advantageous if you are a senior citizen who is retired or about to retire. This is because Fixed Deposits tend to offer higher interest rates to senior citizens, guaranteeing you higher returns for all your future retirement needs.

If you too are on the lookout for the most flexible and profitable Fixed Deposit account in the market, you can use ICICI Bank’s Fixed Deposit calculator to determine the principal amount, tenure and interest rates perfect for you. Choose from a tenure ranging from 7 days to 10 years, and watch your money grow with guaranteed returns and without any market risks.

If you are a customer, Apply for FD, here.

If you are not a customer, Apply for FD, here.


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