The Lesser-Known Benefits Of Fixed Deposit

# Insurance

As known Fixed Deposits are safe and caters to the security needs of a person, and with Deposit Insurance Scheme, fixed Deposits of all banks, foreign banks in India, co-operative, and regional rural Banks are insured by the Deposit insurance and credit guarantee corporation. Through the scheme, each depositor is assured of getting up to 1 lakh, including the principal and interest amount, in the event of the bank being unable to fulfill its commitment. But, if you owe any dues to the bank, the amount will be deducted from the cover before the money reaches you.

READ MORE: Mutual Fund Folio Count Rises By 2 Lakh In FY15 So Far

RBI Rate Cut Keeps Sensex Hopes Alive