Fixed deposit in a bank is the type of Investment which is not a new term anymore. While everyone earns money, very few can put it to good use. Today, unpredictability rules over this competitive world. We may have a slight idea of how much we want to earn, but no one knows what to keep in stock or how to use the hard-earned money effectively. What if you are financially stable, but that’s not enough? Why seal your dreams with your retirement date? Yes, that’s possible through investment.
An FD – Fixed Deposit is a way of investing in bank deposits by depositing some amount of money for a certain period in a bank or financial institution. It is the easiest way of investing your money and benefit from the rate of interest offered by financial companies. Banks accept such a type of deposit as well as Non-Banking Financial Companies (NBFCs).
Benefits of Investing In Fixed Deposit:
1. High Rate of Return: Fixed deposit is an investment with high returns.High-interest rates ensure high returns.
2.Assurance Regarding Returns: The amount you can earn on your deposited money depends on the interest rate which in turn depends on the tenor of the investment. However, this is not the case with other investments such as stocks or funds which depend on fluctuations in the market rates.
3.Flexible Nature: Fixed deposit investment is very flexible as you can choose the tenor according to the amount you wish to invest.
4. Good Liquidity: Investing in fixed deposits allows the investor to withdraw money at any time by paying the penalty in case there is an emergency.One may also take a loan against FD where lenders offer loans of 60-90% of deposits.
Use your savings for your future.Fixed Deposits can give your future dreams and ideas the new way and path towards your success
The Rupee Evolution In India
In 18th Centuary, The Hindustan General bank in Bengal and Bengal bank became the first bank to issue paper currency note in India.In 1858, British took over the control in India, and they changed the Picture of coins by the Picture of the Monarch of Great Britain Supremacy.The king VI George changed the natives on the banknotes and coins.But after the revolt of 1857, he made the ‘RUPEE’as the official currency of Colonial India.In the honor of Queen Victoria in 1862, series of notes and coins were issued with victoria portrait.
After the Independence of India in 1947, Currency reshaped and restructured with the designs of signature rupee coin.The symbol chosen for the signature was the Sarnath Lion Capital.
The first note printed by RBI after independence was a 1 rupee Note.In 1969, RBI issued Mahatma Gandhi Birth Commemorative on Rs5 and Rs10 Notes.In 1959, special issues of Rupees 10 and Rupees 100 were issued for Indian haj pilgrimage, so they can exchange it in Saudi Arabia.In 1917-18, The NIZAM of Hyderabad was given permission to print his own currency and issue them for their people.Finally, in the year 1996, Mahatma Gandhi series of paper note was introduced.In November 2001, Rs 5 Denomination was issued with Mahatma Gandhi image in front and back.In June 1996 10Rs note was introduced with Mahatma Gandhi in front and Fauna of India in back.In 2001, a 20Rs note was introduced with Front Image of Mahatma Gandhi and at back was the image of Palm trees from the Mount Harriet at Port Blair.In 1997, the 50rs note was introduced with Mahatma Gandhi in front and image of Indian Parliament at the back.In 1996, the 100rs notes were Introduced with the Front image of Mahatma Gandhi and Himalayan mountain at the back.In 1997, the 500rs Note was introduced with Mahatma Gandhi image in front and Salt Satyagraha or Dandi march image at the back.In 2000, the 1000rs note was introduced with the Front image of Gandhi Ji and Grain harvesting or agriculture of India as its back image.
In the year 2016, the 500 and 1000 rs notes were banned and demolished by the central government and New paper notes of 500 were issued.The new currency note of 2000rs was introduced by RBI after the demonetization of 1000rs Note.
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