Published On : Mon, Jul 23rd, 2018

Guru Purnima 2018 Special: Best Advice for Students from Investment Gurus


Nagpur: Guru Purnima marks a day of remembering life’s greatest teachers, whether they’ve made their presence felt in the form of a parent, tutor or guide. In fact, Guru Purnima is as much about remembering your teachers as much as it is about remembering the lessons they’ve taught you. So, while you take the day to thank the various people who have played the role of a guru in your life, now is as good a time as any to ensure that you’re incorporating the lessons these teachers must offer.

For instance, take a quick moment to look into the various practices investment gurus advocate. It will help you re-evaluate your investment strategy, make adjustments if necessary and make the best use of the wealth of knowledge that’s available to you.

In fact, if you haven’t invested for yourself or your family’s future yet, now is as good a time as any to make a beginning. You can get started by choosing a safe investment option, such as a fixed deposit. Apart from creating wealth for your future, you can also us a Senior Citizen FD to secure your parents’ post-retirement life. FD interest rates are high, and they offer a secure way to help you grow your wealth steadily. To see just how lucrative this option can be, simply use an FD calculator to forecast your returns.

But first, take a look at the 3 tips that investment gurus urge you to keep in mind when you are investing in fixed deposits.

Pick the right fixed deposit provider
Any investment is as good as the interest rate it offers to you, and so, it is imperative that you pick a fixed deposit that offers you a high rate of return. In this regard, you will find that choosing an FD from an NBFC (Non-Banking Financial Company) will offer you a better FD interest rate as compared to picking a bank FD.

For instance, Bajaj Finance offers Fixed Deposits with interest rates that go up to 8.75%. In addition, a Fixed Deposit for Senior Citizens will fetch you an interest rate that is 0.35% higher. This makes the Bajaj Finance Fixed Deposit a reliable investment option for senior citizens.

Choose an appropriate type of interest
Fixed deposits, like all other investments, must help you achieve your financial goals. So, to ensure that your investment in a fixed deposit or a senior citizen FD is yielding the desired result, you must pick a type of interest rate that aligns with your goals.

You can choose a cumulative interest rate if your goal is to build a cash reserve or a corpus for your future. Here, the interest will compound over the tenor and offer you a substantial sum on maturity. On the other hand, if you want the FD to give you additional funds to take care of periodic needs, you can choose a non-cumulative FD. You will receive payouts at regular intervals, depending on whether you choose a monthly, quarterly, semi-annual or annual payout. This is ideal if you want to use the funds in lieu of a salary, for instance, or to take care of your child’s quarterly education expenses.

Be sure to check the FD provider’s credibility
In general, investing in a fixed deposit is a safe option as it isn’t linked to market performance and so, is low on risk. However, to be doubly sure that you will receive the sum that has been assured to you, make it a point to check the fixed deposit’s credibility before you sign the dotted line. You can do this easily by checking the safety rating that it has been awarded. A high safety rating indicates that you are likely to receive the sum due to you, and on time.

So, if you have been looking for the right time to build your investment portfolio, this Guru Purnima, don’t hesitate to make a beginning. With these three tips guiding your investment, you’re sure to be able to achieve your financial goals without faltering.

Author Bio:
Nishant is a passionate blogger. He has a very diversified skill of amazing artwork like Card Making, Painting and Crafting. He loves keeping himself up-to-date with the news and happenings around. He is always open to learning and shares his experiences on Greetings of the Day.