Does your bank give you a very low interest rate on fixed deposits? Do you not want to invest in stocks, shares or mutual funds?
If you have such questions, Solutions are here in this financial blog post. And it is the right place to find appropriate solutions.
Most people consider a fixed deposit investment the safest mode to earn a passive income/return timely.
But nowadays, almost every bank offers a very low interest rate of less than 6%/year on their fixed deposits plans. It is too low to invest. Because we should keep the inflation in mind. Considering these, opening a new bank account in other banks just to open a fixed deposit is not smart work.
But you find a way, if you have will.
Opening a fixed deposit account online becomes very easy and earns upto 7% interest rate per annum.
And it’s a matter of peace that your investment is insured by one of the RBI’s subsidiary agencies.
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# Best website to open an online fixed deposit online
No doubt it is ‘GROWW’.
Groww is not only famous and reliable source for opening a fixed deposit it is a very good online platform to invest in IPOs, Stocks, Mutual Funds, Etc.
If you don’t know about Groww, let me say something about it.
Grow is an investment website for Mutual Funds, Shares, Stocks, Trading. It released their online presense from 2016. Millions of Indians have already invested via this platform.
# How investing in fixed deposit via Groww different from any other platforms
I personally use this website to invest in Mutual Funds, Fixed deposits. My user experience is awesome on this platform.
Investing via Groww 4 reason:
- Invest in a good return fixed deposit without opening a new bank account>it means you can open a fixed deposit in a bank without having a savings account in the same bank.
- Your money is safe because it will be insured by Deposit Insurance and credit guarantee corporation, one of the subsidiaries of Reserve bank of India.
- Offer Higher Interest rates.
- No hidden charges.
# How to via Groww
- Visit the official website of Groww
- Register if you have not yet
- Login with your credentials
- Click on fixed deposit tab
- Choose the better option
- Put your amount (maximum 90000)
- Insert some additional details
- Submit and pay the amount.
Can I invest via Groww Mobile App?
If you are interested in investing in a fixed deposit via Groww, you should use mobile browser or desktop browsers. Because FDs are available only on these 2.
It is hoped that the FDs will be available in the Groww mobile app very soon.
# In Which banks I can invest
Presently 2 Banks and 1 NBFC are available in Groww
- Equitas bank
- Axis bank
- Bajaj Finance
These organizations offer different rates as per the different time periods.
# Other online platforms for FDs
Apart from Groww, Some other most trusted online platforms are available
- ETMoney-A fixed deposit investment can be opened via website as well as mobile application. You will find only Bajaj Finance Ltd to invest in FDs.
- Google Pay– A fixed deposit investment can be made in Equitas Small Finance by Setu upto 6.75% rate of interest yearly.
- Bajaj Finserv
# Final Words-How to invest in a FD without opening a new bank account
Sometimes We find that the interest rate on fixed deposits in the bank where I have a savings account is not good.
And Again, we do not agree to open a savings account
In other banks, investing in savings accounts in multiple banks is not a smart investment model, and that time we search for such options to solve such issues.
In that case, we can use websites or apps that provide us with such facilities.
Still it is advised to all please do some research before investing your money via such investment websites or online platforms.
Do you know what are the advantages of taking loans? learn here
If you are interested to know about IPO investment via Groww App Click Here
I am a personal finance, stock market update, etc.-related blog post writer. Besides, I am a stock market trader. I invest in IPOs, stocks, Etc. I publish valuable posts and information here.