Opportune Time for Investing in Fixed Deposits

So, the news is viral, Reserve Bank of India has reduced its repo rate. It is now lending money to commercial banks at a rate much lower than before. This has had an all-out effect on all interest rates, deposits and loans alike.

Why is it Opportune Time ?

So what does that mean for someone who is looking to make an investment in a fixed deposit account? It is really simple. Now, is a really good time to make a fixed deposit account!

So, that is exactly what I got on to the internet to do.

Should I invest money now ?

Reviewing of lending and deposit rates is underway and banks are clamouring to secure a balance between their assets and liabilities.

Since I have a reasonable lump sum of savings, the impending plummet of the interest rates of fixed deposits had me browsing different types of fixed deposit options when I stumbled upon the Andhra Bank fixed deposit scheme.

Where the money should be invested ?

Instantly, I realised that the interest rates for fixed deposits is not going to be any better. The bank’s 3-10 years tenure scheme of fixed deposits visibly offer high rates of interest. A higher value of fixed deposit is the better investment plan with attractive rates of interest. This got me thinking, if I deposit a large chunk of my savings for a long tenure, I will get the best rate of interest that is currently possible.

Where the money should be invested ?

• Download the Andhra Bank fixed deposit application form and completed it.

• Scroll through the list of supporting documents required to apply for an Andhra Bank fixed deposit account.

• The only requirement documents were an address proof and an identity proof.

How to apply for a fixed deposit account in Andhra Bank ?

To compare interest rates visit

http://www.bankbazaar.com/fixed-deposit-rate.html