How to Get Maximum Returns on Fixed Deposit?

If you are worried about security, Fixed Deposit are the best investment option for you.

They are free from market risks. That means your principal amount will be protected. You can withdraw your fixed deposit whenever you are in urgent need of funds.

Guess what? You will not have to worry about the downward trends in the market.

However, FDs do not give extraordinary returns. Then, how can you maximize your returns from fixed deposits?

Don’t worry for we have got you covered.

Tips To Maximize Your Returns on Fixed Deposits

1. Do Not Withdraw Before Maturity

Make sure you keep your FDs for the full term. Do not withdraw them before maturity unless it is urgent. Withdrawing your fixed deposits earlier will cut down on your interest payments. Your bank or NBFC will charge a penalty on your interest.

Keeping the FD for the entire term will ensure you get the maximum returns. If you need money, you can take a loan against your FD. You will get it at a lower interest.

Moreover, that will also stop you from withdrawing your deposit prematurely.

2. Go for Cumulative Deposits

Cumulative fixed deposits are those where your interest gets compounded periodically. Therefore, they are an excellent way to grow your money in the long term.

If you opt for non-cumulative deposits, the bank will pay out your interests monthly or quarterly. So, your money will not be able to grow in the long run. Thus, if you want to get the maximum returns, cumulative deposits are the best option.

3. Check Who Is Giving The Highest Interest On FD

Do your research before investing in an FD. You can compare the interest rates of different lenders. That will make sure you get the best rates in the market. Going for the highest interest rates on FD will maximize your returns on the deposit.

4. File your Income Tax Returns on Time

Filing your returns on time will ensure you get all the tax benefits. Moreover, you should be aware of all the changes in the tax norms so that you do not miss out on any benefit.

FDs are an excellent way to save on your income tax payments. And, getting tax deductions will make you get higher returns on your deposit.

5. Go Beyond Bank Fixed Deposits

Don’t stick to banks only. These days, you can open a fixed deposit account with an NBFC or housing finance company. They might offer higher interest than banks.

Final Word

Fixed deposits can help you meet your urgent financial requirements. If you follow these tips, you will be able to get the maximum returns.

PNB Housing Finance offers competitive interest rates on FDs. Moreover, you can open an online FD account.

Is AWS Good For Career? (Check Out Full Report)

The amount spent on the public cloud infrastructure and services is expected to double up by 2023, going by the latest reports. It showcases an impressive CAGR (Compound Annual Growth Rate) of at least 22%. From retail to telecommunications, several sectors will invest heavily in the public cloud within this time.

Of course, if you simply go by the monetary lucrativeness of it, the public cloud shines the brightest. But these figures are not the only reason for you to go for AWS certification.

Remember that it can also be the switch you need if the present profession feels stagnant for you.

Given below are many more of such reasons that make an AWS certification course a good idea.

1. Get with the most popular public cloud platform

In terms of the public cloud, AWS is still the #1 choice everywhere. If you take into account infrastructure as a service, which is only a segment of the public cloud arena, AWS emerges as the market leader.

Reports suggest that AWS cloud holds 33% of the infrastructure as a service segment. It is almost equal to the combination of the following top providers, i.e., Google Cloud Platform and Microsoft Azure.

Moreover, AWS also has remarkable signs of growth in different areas besides infrastructure as a service. After all, the total software as a service market is double that of the infrastructure as a service sector.

2. The public cloud with the fastest growth rate

Did you know that AWS training and certification pertained to the first public cloud to market back in 2006?

Thus, AWS received at least a seven-year worth of start over the competition. This lead really helped AWS to register a commendable growth rate that continues till today. You will get an idea of the growth if you consider that it had gone from 42% in 2017 to 52% in 2020.

3. More jobs available than certified professionals

In the job market for public cloud computing, you will find at least six to twelve times more job vacancies posted than the number of job seekers. And most of these postings are related to AWS.

Employers across the world admit that it is pretty challenging to find a qualified professional with an in-depth knowledge of cloud computing. This scenario will continue for a long time, which makes it a good idea for you to grab this opportunity.

4. An IT professional has to be an expert in cloud computing

Reports also suggest that machine learning and artificial intelligence are both the biggest drives for rising cloud adoption in the years to come.

IT professionals unanimously agree that machine learning and AI, and related cloud security will have major roles to play in cloud adoption.

With AWS being one of the foremost cloud computing services adopted widely by organizations of all scales, AWS devOps cloud certification will also earn brownie points for the IT professionals looking to climb the career ladder.

Getting the AWS certification training the right way

You now know enough reasons to consider a career in AWS.

All you need to figure out now is how to get trained and earn the skills to that effect. The thing is that there are too many learning resources available for AWS, so choosing wisely is imperative. It has been a long time since these certifications first came into existence (2013).

Loads of courses, manuals, books, practice exam sheets, and communities have come up in this time.

If you plan to be an AWS cloud developer, such resources can truly come in handy. But as mentioned earlier, you will have to be careful about the resources you choose to grow your career.

After all, some courses and manuals are simply easier to follow and understand than others.

Certification training should also be assessed based on the availability of quality study material, budget, and timings.

The best thing you can do in this regard is to seek assistance from a well-reputed center with experienced teachers.

Wrapping up

Hopefully, you have no more doubts in your mind about the viability of an AWS career. Regardless of whether you are starting a career or making a job switch, AWS can bring you the success that you are aiming for.