FDs are indeed among the most popular investment choices for an Indian investor who prefers safety and assured returns rather than the vulnerability of market risk. The Bandhan Bank 118-day attractiveness with a short maturity period, good interest rate, and aforetime return is thus attractive for short-term investors.
What is the Bandhan Bank 118-Day FD Scheme?
118-days FD is a short-term fixed deposit option offered by Bandhan Bank where the investors can only lock their money for just shy of four months, and assured interest is guaranteed. In general, the scheme is for those who do not want to lock-in funds for long tenure but still want to get better returns over the saver account.
Interest Rate and Maturity Amount
Bandhan Bank offers decent, interest rates for this short-term FD, so the investor will get a reasonable yield even for a short holding period. For example, if you invest a lump sum of ₹85,000, depending on the interest rate prevailing at the time, the maturity value may be somewhere around ₹89,000 at the expiration of 118 days. It is, thus, a low-risk option to safely and quickly grow your money.
Why Choose This Scheme?
The 118-day FD would be an ideal option for investors seeking a safe, short-term parking space for their surplus funds. Unlike market-linked investments, your returns are NOT marked to market variations in volatility, so you can plan your finances with a great deal of certainty. A senior citizen earns slightly higher interest rates under this scheme, making it an attractive option for retirees.
How to Open a 118-Day FD?
Opening an FD with Bandhan Bank is very easy as it can be done online by using net banking or mobile banking. Alternatively, one can visit the nearest branch to open the deposit with very little documentation.
Final Thoughts
Bandhan Bank’s 118-day FD scheme is the best option for those looking into short-term, no-risk investments with guaranteed returns. This plan serves as the quickest and most secure way to accumulate any amount for a salaried employee who is saving for an upcoming expense or a retiree who requires secure income.