Check out the Best NBFC to Start a 1-Year Fixed Deposit in 2023!

Building an investment portfolio is the biggest success you can achieve financially. Many investors have a considerable amount of money and want to start their investment journey. However, they are usually unaware of choosing the right investment option. A Fixed Deposit (FD) for one year is the shortest yet most beneficial investment option in 2022. If you are beginning your investment journey or planning for a temporary investment, one year fixed deposit with Shriram is your go-to option.

With the current economic crisis, the need for investment is increasing daily. Investment options like Mutual Funds, Systematic Investment Plans and Stocks offer attractive interest rates in 2023, but investors are alarmed by the frequent fluctuation in the market condition. A fixed deposit account with an NBFC like Shriram is stable and helps investors peacefully sail through the current financial crunch with a beneficial income.

Corporate Fixed Deposit

A Corporate Fixed Deposit (Company Fixed Deposit) is offered by Non-Banking Financial Companies (NBFCs) to investors for a fixed tenure at a fixed interest rate. This fixed deposit is governed by the Companies Act under Section 58A. In 2022, a corporate fixed deposit is the safest bet for a profitable return.

It is common for investors to doubt about investing in a corporate fixed deposit. However, NBFCs have improved significantly recently and are recognised for safety by CRISIL, ICRA and India Ratings and Research. With the exponential growth of Shriram in the investment market, you can book a corporate fixed deposit to build a strong investment portfolio.

1-Year Fixed Deposit

A one-year fixed deposit is the best investment option to help you quickly achieve short-term financial goals. Besides, you can avail of regular payouts, loads on-demand, reasonable interest rates, and guaranteed returns in your one-year fixed deposit scheme. If you are an investor wanting considerable growth in a short period, a fixed deposit for one year is the choice.

Top 5 Benefits of a 1-Year Fixed Deposit

Short-term fixed deposit accounts have several benefits for investors. Below listed are a few:

• If you are planning a temporary investment, a one-year fixed deposit is an ideal choice of investment.

• It provides good returns along with easy & quick liquidity.

• Without any major paperwork, you can take a loan against your short-term fixed deposit for up to 95% of the investment.

• Investors will only be charged 1% from the predetermined interest rate when you withdraw money on a short-term fixed deposit before maturity.

• You can use the money in the short-term fixed deposit as margin money for non-fund-based services.

Shriram is the Best Corporate for a 1-Year Fixed Deposit

The tenure of investment plays a critical role in deciding the maturity amount. It is to be noted that short tenure attracts meagre interest. However, with Shriram Fixed Deposit, the interest rates for a 1-year fixed deposit scheme are the highest in the country.

Shriram, in 2022 wants to motivate investors to build a sound investment portfolio. Hence the company fixed deposit rates have been increased from 7.90 to 8.40%, including 0.50% for senior citizens.

Features of Shriram Short-Term Fixed Deposit

A fixed deposit account from Shriram offers multiple benefits to investors. It helps investors accomplish their short-term financial goals without hassles. Take a quick look at the features of Shriram's short-term fixed deposit.

• Highest Fixed Deposit Returns – Among all the NBFCs, Shriram offers the highest interest rate in the country for an FD. Hence, you are assured of getting excellent and stable returns from your investment.

• Quick Liquidity – Shriram allows you to liquidate your investment in times of emergency with a minor penalty. However, there is a lock-in period of three months; until then, you cannot break your FD.

• Flexible Investment Amount – Based on your personal and financial goals, you have the flexibility to invest any amount as low as Rs. 5000 and thereafter increase the value in multiples of Rs. 1000.

• Regular Income – You can choose a non-cumulative fixed deposit scheme and receive your interest payout for the one-year fixed deposit on a monthly, quarterly and half-yearly basis.

• Flexible Investment Tenure – Shriram allows you to choose your investment tenure. The minimum tenure is one year, and the maximum is five years. If you want exceptional returns on your investment, you should book a five-year fixed deposit from Shriram.

• Special Interest Rates for Senior Citizens – Senior citizens are entitled to an extra 0.50% on the interest rates. It applies to all the FD schemes and does not change based on any factors.

Invest with Shriram Now!

Shriram’s one-year FD is by far the best short-term FD scheme from an NBFC. You can open a short-term fixed deposit account with Shriram online and offline. However, before you book an FD, use a fixed deposit interest calculator to know the exclusive interest rates offered by Shriram and the maturity amount you will receive according to your tenure and principal amount.

Begin your investment portfolio with a 1 Year Fixed Deposit with Shriram!

Key Highlights

•      Building an investment portfolio is the biggest success you can achieve financially.

•      Many investors have a considerable amount of money and want to start their investment journey.

•      A Fixed Deposit (FD) for one year is the shortest yet most beneficial investment option in 2022.

•     If you are beginning your investment journey or planning for a temporary investment, one year fixed deposit with Shriram is your go-to option.