Do you want to double your money and do you want to know about the plan to double the money, then we are telling you about a similar scheme issued by the banks called Fixed Deposit Double Scheme. double scheme).
What is Fixed Deposit Double Scheme?
Fixed Deposit Double Scheme (Fixed Deposit Double Scheme) started by banks is a scheme in which the investor invests his money little by little over a predetermined period and after a certain period his money is doubled by the bank and returned. Is.
Fixed Deposit Double Scheme, also known as Special Fixed Deposit Scheme, is introduced by various banks to serve the purpose of investors wanting to double their money on maturity. Launched.
How to double your money with Fixed Deposit Double Scheme?
It is a reinvestment plan where the interest earned is reinvested by adding it to the principal to generate compound profit. Banks usually offer Fixed Deposit Dual Scheme. These are FD schemes in which investors have to deposit a fixed amount for a fixed period.
This scheme doubles the money for an investor when an investor deposits a fixed amount every month or on a quarterly basis for a predetermined period decided by the bank. You can avail this scheme through top government and private banks of India.
Fixed Deposit Double Scheme is an FD scheme with a fixed tenure decided by the bank. The bank usually fixes a minimum investment amount for this type of deposit and the interest rate depends on the tenure of the FD.
The tenure of the Fixed Deposit Double Scheme scheme i.e. maturity period ranges from 6 months to 10 years and the interest rate also ranges from 3.5% to 10%. This interest rate may vary according to the bank and the tenure.
The interest earned on the investments made by you is reinvested. During maturity, you get a lump sum amount doubling the investment amount along with interest. Apart from this, investing in mutual funds is also considered a profitable deal.
Keep in mind that if you deposit money in a bank under Fixed Deposit Double Scheme, then you do not have any option to withdraw this money ahead of time. Only, some banks allow premature break or withdrawal of fixed deposit dual schemes.
The biggest advantage of this wealth doubling plan is that you get a loan against your deposit, which provides a great help in the form of a loan when you are in need of financial assistance.
You can choose any deposit amount on a monthly basis as per your savings and investment potential. This habit of investing slowly helps in doubling your money after completion of the time fixed by the bank.
You can avail the Fixed Deposit Double Scheme by visiting any bank. You will get a significant amount in lump sum after a particular time by investing gradually as per your investment capacity which will ultimately support you financially.
What is the difference between Normal Fixed Deposit and Fixed Deposit Double Scheme?
In a normal Fixed Deposit, the depositor can choose the tenure of the deposit and the amount of investment, whereas in a Fixed Deposit Double Scheme, the depositor cannot choose the tenure of the deposit and the amount of investment as it is pre-determined by the bank.
In normal Fixed Deposit, you can withdraw the interest earned on your investment at regular intervals or reinvest it whereas in Fixed Deposit Double Scheme you cannot withdraw the interest earned before the maturity period it is only reinvested.
There is no guarantee of doubling the money you invest in a normal Fixed Deposit, but there is a guarantee of doubling the money you invest in a Fixed Deposit Double scheme.
In normal FD scheme you can withdraw your money anytime but in FD double plan you can withdraw your money only after the maturity period decided by the bank.
Who offers Fixed Deposit Double Scheme?
Almost all banks in India offer this scheme, so you can go to any bank and get detailed information about the Fixed Deposit Double Scheme from the bank officer and start depositing your savings little by little and within a specific time frame. After that your money will double.
Under the Fixed Deposit double scheme, the investment amount and tenure are fixed. The interest earned on this is reinvested in the scheme and the interest rate here also remains constant throughout the tenure. Hence, at the time of maturity, the money invested by you doubles.
No one offers Fixed Deposit Double Scheme other than RBI registered banks so please don’t fall for anyone’s words and avoid scammers. Avail this scheme through reputed banks only to keep your money safe.