How Fixed Deposits helps to boost our middle class economy?

Here’s How Fixed Deposits Help The Middle-Class Segment

For the Indian middle-class population, putting money into a fixed deposit scheme has always been a secured option.

The returns offered on an FD are not contingent on the market instability, and this is a safe bait for a middle-class individual who cannot afford to lose his/her hard-earned money at any cost.

Nowadays, you can avail of any information regarding your FDs by checking your FD status via net banking or mobile applications.

Ways In Which FDs Boost Middle-Class Economy

The middle-class population in India has limited financial resources to keep the ball rolling. Hence, having an FD can help boost the finances of a middle-class household in manifold ways.

After you procure a fixed deposit account, you can check your FD status online without any hassle.

Safest Investment Choice

Fixed deposits are one of the most secured financial alternatives present in the market. PNB Housing Finance is among the handful of HFCs that provide the best FD rates in India at a whopping 6.95%.

Lucrative Interest Rates for Senior Citizens

Most housing finance companies offer the best FD rates in India for senior citizens. The senior citizens are eligible for a 0.25% extra interest rate. Senior citizens can keep themselves informed about their fixed deposits by checking the FD status via online platforms.

Flexible Interest Payouts

Interest procured in a fixed deposit is remitted in two ways, that is, cumulative and non-cumulative. In the cumulative method, the interest is accumulated, on which further interest is aggregated. This compounded amount of interest is paid on maturity.

On the other hand, in the case of the non-cumulative method, the interest is paid out at regular intervals, be it every month, quarterly, half-yearly, and yearly. For the best FD interests in India on a cumulative basis, look out for the interest rates of PNB Housing HFC.

Facility to Take Loan against FD

Financial difficulties can come up at any point in time when you need a hefty sum of money to battle the crisis. It is during such times that you might be forced to procure an unsecured loan at an unreasonably high-interest rate.

But, if you have a fixed deposit account, you can avail of a loan against your FD. Only a nominal rate (0.5% – 2%) of interest is levied on the current fixed deposit rate. To be on the safe side, check your FD status before taking a loan against your FD.

Thus, having a fixed deposit saves one from shelling out exorbitant interest rates and not compromising on the best FD interests in India. Also, you need not break your FD untimely.

You check your FD status via mobile banking or net banking to know your FD maturity time.


Opting to buy fixed deposit schemes helps instill healthy saving habits and provides a training ground to organize one’s finances methodically.

For a section of the population with limited financial resources at their disposal, responsibly monitoring one’s money is imperative for a healthy running of a middle-class household.

Pooling in your hard-earned money in fixed deposits will help you secure significant savings for a robust future. Keep track of your FD status regularly to not miss out on important information related to your fixed deposit.