Fixed Deposit of Rs. 30 Lakhs

A Fixed Deposit (FD) is a widely favoured investment avenue in India, providing a secure and reliable method to increase your savings. By investing Rs. 30 lakhs in an FD, you pledge your money for a predetermined duration, which can span from 7 days to 10 years, contingent on the financial institution's conditions. This investment instrument is offered by both banks and Non-Banking Financial Companies (NBFCs), affording versatility and a selection of interest rates that fluctuate based on the tenure and institution.

FDs are particularly suitable for individuals who prioritise minimal risk and assured returns, making them especially appealing to senior citizens and those seeking low-risk investments. The interest earned on an FD can be obtained at periodic intervals or compounded annually, providing either a regular income stream or enhanced returns at maturity. Let's delve into the numerous benefits of investing in an FD of Rs. 30 lakhs.

Applying for an FD of Rs. 30 lakhs is a straightforward process that can be completed through various channels, depending on your preferred bank or financial institution. Here are the steps to follow:

• Choose a Bank or Financial Institution: Research and compare interest rates offered by different banks and NBFCs to find the most competitive option for your Rs. 30 lakh FD.
• Gather Necessary Documents: To apply for an FD, you will need to provide certain documents for identification and verification purposes. These typically include:
• A PAN card for identity verification
• KYC documents such as Aadhaar card, passport, driver's licence, or voter ID as proof of address
• Choose the Application Method: Most banks offer two ways to apply for an FD:
• Online: If you have an online banking account, you can log in and follow the prompts to create an FD. Enter the investment amount of Rs. 30 lakhs and select your preferred tenure.
• In person: Visit your nearest bank branch with the required documents and fill out the FD application form.
• Complete the Application Form: Accurately fill in all the details on the FD application form, including the deposit amount, tenure, and interest payout option (monthly, quarterly, etc.).
• Submit the Application: Once you have completed the form, submit it along with the necessary documents. For online applications, you may need to verify your identity through a video call or by entering OTPs sent to your registered mobile number.
• Receive Confirmation: After your application is processed and approved, you will receive a confirmation of your FD, along with a certificate detailing the terms of your deposit.

Airtel Finance offers an attractive FD investment option with several benefits that make it stand out in the market. Firstly, you can earn up to 8.75% interest annually, which is one of the highest FD rates available. Senior citizens and women can enjoy even higher interest rates, making it an appealing choice for these demographics.

Additionally, Airtel Finance allows you to start investing with as little as Rs. 1,000, making it accessible to a wide range of investors. The entire FD booking process is fully digital and can be completed in just minutes, without any paperwork or the need to open a new bank account.

Your funds are secure with Airtel Finance, as FDs are insured up to Rs. 5 lakhs per PAN under the DICGC. The company partners with reputable small finance banks and NBFCs, such as Bajaj Finserv, Suryoday, Utkarsh Small Finance Bank, Sriram Finance, Shivalik, North East Small Finance Bank, and South Indian Bank, for added reliability.

Moreover, Airtel Finance offers flexibility with premature withdrawal benefits available after 7 days of investment, providing liquidity in emergencies. You also have the option to renew FDs automatically at maturity or transfer funds back to your savings account. With its combination of high returns, digital convenience, safety, and flexibility, Airtel Finance presents a compelling choice for your FD investment.